Afternoon Coffee: SirionLabs launches AI-powered M&A platform; Electric delivery vehicles wanted — stat!; Tips for suppliers to meet demand amid COVID-19; Read about Icertis on Spend Matters PRO

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SirionLabs announced this week that it’s releasing a new AI-powered platform, SirionM&A, to simplify the complex M&A process. Sirion said the platform reduces the time associated with manual due diligence by 70% while enabling full transparency into contract clauses and shortening contract review cycle times.

Speed has traditionally been a hurdle in evaluating deals and negotiating terms for mergers and acquisitions. But administering contract data can be time-consuming, tedious and expensive. The longer the process, the higher the risk to an organization.

SirionM&A aims to simplify the process through using AI technology for document extraction, governance and collaboration. It can help in the standardization of commercial contracting practices while providing insights of things that could hurt a company.

“We’ve heard from many organizations who want an easier way to complete M&A due diligence at the speed they require without sacrificing the integrity of the review process,” said Ajay Agrawal, Founder and Chairman of SirionLabs, in a press release. “SirionM&A cuts review and analysis down to hours versus weeks and months, which will be game-changing in terms of how fast corporate transactions get done. With far better accuracy, speed and insights than traditional due diligence solutions, firms can now allocate more time on strategies focused on the best way to merge and integrate to realize true synergy savings.”

E-commerce parcel delivery firms want electric vehicles

A surge in e-commerce package demand has delivery companies itching to switch to electric vehicles soon, according to Reuters.

Fleet operators like United Parcel Service (UPS) are in the market for computers on wheels that can harvest data and upgrade safety and autonomous features overnight to save money and boost profit. Tesla is seen as a forerunner in the production of these types of electric vehicles because of its power to send wireless upgrades and fixes to electric cars. Major companies like UPS would like to harness these capabilities to bring cost-saving, autonomous and safety measures to fleets in real time, according to the article.

“For us, it’s not just about making the wheels turn with a zero-emission vehicle,” Scott Phillippi, UPS’s Senior Director of fleet maintenance and engineering, told Reuters. He imagines “Tesla-like” vehicles in the company’s vast fleet. “It’s about an integrated-technology vehicle, and that’s really what we’re pushing for.”

Tips for suppliers to meet demand when historical data doesn’t cut it anymore

As consumers and supply chains face shortages on certain products — like cleaning supplies, kettlebells, appliances or meat — manufacturers are still coming up short when it comes to supply, according to Supply Chain Dive.

And while suppliers can usually turn to historical data to figure out demand for certain products, these historical measures haven’t proven as helpful during the COVID-19 pandemic because demand has shifted. The numbers aren’t totally useless, but they don’t tell the whole story, according to the article.

Experts weighed in on tips for what can help fight "stockouts" in times of unpredictable demand:

  • Tweak planning frequency and data process
  • Focus on core products and customers
  • Try something new

In case you missed it ... Spend Matters’ PRO roundup

Contract management is increasingly a hot topic, especially in the B2B technology sphere. Naturally, competition between contract lifecycle management (CLM) vendors has increased.

To help you break through the noise, Spend Matters PRO did a Vendor Analysis in the CLM space, Icertis. Icertis has maintained a top spot in the contract management market because of its deep support for essentials and expansions of what a CLM platform can do, our analyst Nick Heinzmann writes.

Part 1 provides an in-depth look at Icertis as a technology provider and its specific solutions, and Part 2 gives a detailed analysis of Icertis's solution strengths and weaknesses and a review of the product’s user experience. Part 3 includes a look at Icertis's competitors, a SWOT analysis of the provider, tech selection tips and a summary analysis.

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