Salt Lake City, UT, September 20, 2024—Sirion, the AI-native contract lifecycle management (CLM) platform, today announced it has been recognized as the industry’s No. 1 ranked CLM vendor in the Spend Matters® Fall 2024 SolutionMap evaluation, based on analyst and customer assessments. This is testament to Sirion’s market leadership built on the foundation of its industry-leading CLM technology, visionary product innovation roadmap, and unwavering commitment to customer success and satisfaction. You can download a summary of Sirion’s results from the Fall 2024 Spend Matters SolutionMap evaluation here.
In Spend Matters’ latest SolutionMap edition, Sirion received the highest scores among all 27 vendors for overall CLM functionality, thereby securing the 2024 Top Tech award for the third time in a row. Sirion dominated the evaluation, top scoring in multiple key CLM functional areas, including Specialty CLM Analytics; Contract Creation, Authoring and Negotiation; and Contract Performance Management. Sirion’s success in this evaluation underscores its unmatched ability to understand the evolving contracting needs of enterprises and deliver a best-in-class experience.
SolutionMap is designed to provide procurement and supply chain leaders with an accurate and up-to-date analysis of the market landscape based on granular, data-based assessments of procurement technology, functionality, and customer satisfaction metrics. Beyond feature/function, Spend Matters looks at the platform elements to reflect buyer needs, for e.g., the application of AI, user experience, low-code platforms.
As an AI native CLM platform, Sirion has established itself as the go-to contracting solution for enterprise procurement professionals to store, create, and manage agreements. The platform’s category-leading contract analytics, conversational search, generative AI assisted review and redline automation, and vendor performance management capabilities enable faster time to contract, shorter negotiation cycles, and stronger vendor performance and compliance management. With a differentiated approach that seamlessly combines Large Language Models with Small Data AI, Sirion is extending the definition of contract intelligence to document intelligence, enabling users to extract and utilize critical information from other enterprise documents, such as invoices and other financial statements, across their contract and supplier management processes.
“Being recognized as the top CLM provider by Spend Matters is a tremendous honor and a testament to our commitment to innovation in contract management,” said Kanti Prabha, President and Co-Founder of Sirion. “Our AI-native platform is redefining CLM by leveraging a multi-model AI approach. With our latest generative AI features for conversational search, and contract review and surgical redlining of contracts, we’re pushing the boundaries of what’s possible. Our curated combinations of LLMs and small data AI ensures that our platform not only adapts to each client’s unique needs, but also delivers unparalleled precision and efficiency. And this is just the beginning – our extensive AI roadmap promises to keep driving transformative capabilities for our customers.”
This acknowledgment from Spend Matters contributes to Sirion’s growing list of industry accolades. Sirion is a Leader in the 2023 Gartner® Magic Quadrant™ for CLM, the highest ranked vendor for all five Use Cases in the 2023 Gartner® Critical Capabilities for CLM, and the top ranked provider in the 2023 IDC MarketScape for Buy-Side Contract Lifecycle Management. In 2024, Sirion has been recognized as a Customers’ Choice in the 2024 Gartner® Peer Insights™ Voice of the Customer for CLM report as well as recognized as a Digital World Class vendor positioned in the top category in Hackett Group’s latest CLM Digital World Class Matrix evaluation.
Sirion is the world’s leading AI-native CLM platform, it has been a pioneer in applying generative AI to help enterprises transform the way they store, create, and manage contracts. The platform’s extraction, conversational search, and AI-led negotiation capabilities have revolutionized contracting across enterprise teams – from legal and procurement to sales and finance. The world’s most valuable brands such as BNY Mellon, DHL, KPMG and Vodafone trust Sirion to manage 7M+ contracts worth nearly $800B and relationships with 1M+ suppliers and customers in 100+ languages. Leading analysts such as Gartner, IDC, and Spend Matters have consistently recognized Sirion as a leader in CLM for its focus on category-leading innovation.
For more information about Sirion, visit https://www.sirion.ai.
The Spend Matters’ SolutionMap is a prominent procurement technology assessment and benchmarking tool. It provides a comprehensive evaluation of various solution providers in key procurement categories, offering valuable insights and guidance to organizations seeking to make informed decisions about their technology investments. It considers multiple factors, including analyst assessments, customer feedback and vendor updates, to provide an accurate and up-to-date analysis of the market landscape.
Hot Off the Press: Gartner CLM Magic Quadrant 2024
Sirion Named a Leader in the 2024 Gartner® Magic Quadrant™ for Contract Life Cycle Management.