SirionLabs is the leading provider of enterprise SaaS products focused on the post-signature management of complex services contracts. Sirion is purpose-built for managing strategic services contracts after the contract is signed. Traditional tools are either goods focused or are limited to the pre-signature phase.
Sirion simplifies the management of complex services contracts such as IT outsourcing, BPO, Facilities Management and Logistics. It bridges the gap in existing supplier and contract management solutions by tightly integrating key supplier management disciplines – contracts, performance, financial, risk, and relationship management - on a single platform, providing an enterprise level view of how your strategic supplier engagements are performing, thereby enabling higher value realization in such engagements.
- Hierarchical Document Repository with Integrated Document Viewer
- Technology assisted extraction and management of contractual obligations; workflows and algorithms to drive obligations towards completion with current status tracking
- Real-time monitoring of supplier performance against service levels and obligations; auto computation and tracking of service level credits resulting in improved performance
- Automated invoice validation against performance and contract data resulting in 8 to 12 % hard dollar savings
- Reduction of manual effort in supplier management by almost 40%.
- Founded: 2012
- Headquartered in Singapore, with additional offices in Copenhagen, Denmark; Dublin, California; Frankfurt, Germany; Gurgaon, India; and London
- Number of employees (range): 201–500
- Total annual revenue (range): $2 million–$10 million
- Percentage of revenue from procurement/supply: 100%
- Serves customers in Asia, Australasia, North America and Western Europe
- Customers include Western Union, Vodafone, Vestas Wind Systems and University College London Hospitals (UCLH)
- Industries served include financial services, manufacturing, energy, healthcare, telecom and information technology
- Available modules: Contract Authoring, Contract Management, Performance Management, Financial Management, Relationship Management and Risk Management
Background & OverviewSirionLabs has primarily focused on business process outsourcing (BPO) to date, particularly in IT services. From a category perspective, BPO is the current low-hanging fruit in managing highly complex supplier relationships, where the largest benefits come from areas other than price negotiation or ongoing collaboration and development. Any category in which the combination of raw performance data and underlying obligations is central to realizing the value from a supplier relationship is a strong candidate to manage in new ways through specialized approaches. This is where SirionLabs begins to differentiate itself. It has developed capabilities that emphasize the post-transaction lifecycle. While it does not have advanced strategic sourcing, it would seem a logical step for this class of solution to incorporate these capabilities in the future (even if they are not primary value drivers today). In contrast to other providers that focus on supplier relationship management, SirionLabs is attempting to move beyond being a bolt-on set of applications to manage performance and obligations while developing suppliers. Rather, it is attempting to be a new system of record in which underlying contract elements become what we might describe as a services “bill of materials.” Competitors include:
- DCR Workforce
- SAP Fieldglass
- PRO Unlimited
Commentary & SummarySirionLabs can serve a range of potential customers. But there are important considerations in this statement that apply to different groups of potential users (as well as those which are not a perfect fit):
- In terms of ideal customer match for SirionLabs, the most important determinant is not size or industry, but rather their spend/supplier mix and the importance of putting in place a system and entire operational governance framework and approach for managing only the most strategic services supplier relationships
- Organizations without an internal commitment to create a true partnering environment with the strategic suppliers and the commitment to create specialized business process and governance approaches are unlikely to be able to take full advantage of the capabilities that SirionLabs delivers. These types of organizations are better suited to adapting a VMS system and using its SOW capabilities for complex services relationships.
- Organizations that are not happy with existing approaches contract lifecycle management (CLM) solutions based on their ability to operationalize commitments and obligations may wish to consider SirionLabs for a broader portion of their spend
- Suppliers that have to manage highly strategic customer relationships in complex services/solution environments (in cases of contract manufacturing, aftermarket support, etc.) are also a fit for the toolset