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SirionLabs: Vendor Analysis, 2021 Update (Part 2) — Product Strengths & Weaknesses

03/02/2021 By

Part 2 of this Spend Matters PRO Vendor Analysis provides a detailed assessment of SirionLabs’ strengths and weaknesses of its solution for contract lifecycle management (CLM) and supply management.

In many ways, the easiest method for differentiating CLM solutions comes down to two questions: How deeply does a system model the commercial aspects of legal language, and to what extent can the system facilitate the analysis, certification and management of that resulting contract data?

Some vendors go deep on the modeling of contractual information, allowing that commercial knowledge to drive risk and performance management with counterparties. Other — often newer — vendors take a different approach, optimizing the workflows of CLM such as contract authoring and negotiation as the path to fast system ROI.

SirionLabs is a helpful example in illustrating the first group of CLM vendors. Because its roots are in managing services agreements and the ultimate outcomes of agreements, its approach to modeling and managing contractual information embraces complexity — and as a result, it delivers insights about relationships that are uniquely valuable to customers.

Part 1 examined SirionLabs’ background and offered a detailed solution overview. Part 3 will cover Sirion’s competitors, a company SWOT analysis and tech selection tips.

Now, let’s learn more about its solution strengths and weaknesses.

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Series
Vendor Analysis