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SirionLabs: What Makes It Great (Contract Lifecycle Management SolutionMap Analysis)

Editor’s note: This “What Makes It Great” column is normally reserved for SolutionMap Insider subscribers, but SirionLabs has generously agreed to support access for readers who are not yet members.

In a world where everything that businesses purchase is increasingly consumed “as a service,” contracts are taking on increased importance as a commercial system of record for all transactions, processes and obligations that a company must manage.

This system of record includes not just basic facts and risk transferring mechanisms for contract parties but also cooperative elements that define how a relationship will generate value — from project milestones and contingencies to complex payment conditions.

And it extends beyond simple functional boundaries, too, putting contract management at the core of all enterprise processes, whether they begin in sales, legal, procurement or elsewhere.

This conceptual framework for contracts, which Spend Matters calls commercial value management (CVM), is an emerging ambition within organizations looking to raise their contract management maturity to new levels. But a major hurdle exists to doing so: Not all contract lifecycle management (CLM) solutions have the necessary capabilities to support such a vision.

SirionLabs, a contract lifecycle and obligation management platform, is one of a handful of firms that can play in this new CVM space — while also maintaining a highly competitive position in the traditional CLM market. The Seattle-based vendor achieves both feats by infusing strong core CLM functionality with a unique set of surrounding capabilities for post-signature obligation management and AI-based content extraction.

Customers, too, cite many strengths in SirionLabs’ solution approach, particularly its commitment to driving fast ROI and continuous innovation informed by client needs. But where does SirionLabs stand out most and help “set the bar” in CLM, and why should this matter for businesses?

Let’s delve into our SolutionMap benchmark to find out where SirionLabs is great.

“What Makes It Great” is a recurring column for SolutionMap Insider subscribers. The columns share insights from SolutionMap updates, which rank offerings from more than 65 vendors in 13 technology areas of procurement. The updates are released in the spring and fall. Based on SolutionMaps’ rigorous evaluation process by our analysts and customer reference reviews, these columns offer quick facts on the vendor, describe where it excels, provide hard data on where it beats the SolutionMap benchmark and conclude with a checklist for ideal customer scenarios in which procurement, finance and supply chain organizations should consider it.

Spring 2020 Contract Lifecycle Management (CLM): Provider Scoring Summary

The Spend Matters SolutionMap Contract Lifecycle Management (CLM): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of Contract Lifecycle Management (CLM) providers. It is part of our Spring 2020 SolutionMap report series, also featuring spend analytics, sourcing, supplier management (including supplier information management, performance management and risk management), e-procurement and invoice-to-pay providers.

Spring/Q1 2020 SolutionMap release note: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology Suites

This Spend Matters SolutionMap Insider release note provides insight into the Spring/Q1 2020 SolutionMap release for the following five categories: Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite. The note reviews the process we follow and highlights what has changed since the last release.

Also, SolutionMap is shifting from quarterly updates to spring and fall updates. This is the last quarterly release and the first spring release, so you’ll see it labeled “Spring/Q1.”

Changes to Spring/Q1 2020 SolutionMap

In the above individual areas, the following providers have been added for this release:
* Conga is a new participant in the Contract Lifecycle Management SolutionMap category.
* Rosslyn Analytics is a new participant in the Spend & Procurement Analytics SolutionMap category.
* Suplari is a new participant in the Spend & Procurement Analytics SolutionMap category.
* Xeeva is a new participant in the Spend & Procurement Analytics SolutionMap category.

Wax Digital, has changed its name to Wax Digital / Medius, and Orpheus was acquired by McKinsey. Their offering is now “Spend Intelligence by McKinsey.

In addition, 72 new or refreshed customer references (and 60 individual map references) were added in the Strategic Procurement Technology areas.

Get a first look at the Spring/Q1 2020 SolutionMap comparative quadrant graphics here.

SolutionMap Insider members: Access the latest Provider Scoring Summary reports right here.

Q4 2019 Contract Lifecycle Management (CLM): Provider Scoring Summary

The Spend Matters SolutionMap Contract Lifecycle Management (CLM): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of Contract Lifecycle Management (CLM) providers. It is part of our Q4 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management (including supplier information management, performance management and risk management), e-procurement and invoice-to-pay providers.

Q4 2019 SolutionMap Release Notes: Sourcing, Spend & Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology Suites

This Spend Matters SolutionMap Insider research note provides insight into the Q4 2019 SolutionMap release for Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite SolutionMap areas, reviewing the process we follow and highlighting what has changed since the last release.

Within the individual areas covered in this brief, the following providers have been added to the Q4 2019 release:

— Promena is a new participant in the Sourcing SolutionMap category.
— Spendata is a new participant in the Spend & Procurement Analytics SolutionMap category.
— Vendorful is a new participant in the Sourcing and Supplier Relationship Management (SRM) & Risk SolutionMap categories.

Wax Digital has added a new category to its existing participation this quarter: Contract Lifecycle Management (CLM).

In addition, 31 new or refreshed customer references (and 51 individual map references) were added in the Strategic Procurement Technology areas for Q4 2019.

*Get a first look at the Q4 SolutionMap comparative quadrant graphics here.

The Q4 2019 SolutionMap marks the first time Jaggaer solutions have been evaluated against Q2 2019 RFI requirements by the Spend Matters analyst team, and are able to again appear in this quarter’s editions of the Provider Scoring Summaries.

(SolutionMap Insider members: access the Q4 Provider Scoring Summary reports right here.)

Q3 2019 SolutionMap Release Notes: Sourcing, Spend & Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology Suites

This Spend Matters SolutionMap Insider research note provides insight into the Q3 2019 SolutionMap release for Sourcing, Spend and Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite SolutionMap areas, reviewing the process we follow and highlighting what has changed since the last release.

Within the individual areas covered in this brief, the following providers have been added to the Q3 2019 release:

— K2 Sourcing is a new participant in the Sourcing SolutionMap category.
— Orpheus is a new participant in the Spend & Procurement Analytics SolutionMap category.

Wax Digital has added a new category to its existing participation this quarter: Supplier Relationship Management and Risk.

In addition, 38 new or refreshed customer references (and 76 individual map references) were added in the Strategic Procurement Technology areas for Q3 2019.

The following providers still did not update their scoring based on the new Q2 2019 RFI and, as a result, had their scores adjusted based on a common shift factor (that preserves positional integrity relative to peers) and any platform updates, or lack thereof, that the analysts have received since the last time the RFIs were filled out. We expect most of them to participate in upcoming Q4 2019 or Q1 2020 releases.

In Source-to-Pay:
— SAP Ariba, Jaggaer (Indirect, Advantage, and Direct)*

In stand-alone Sourcing:
— Keelvar and Scout RFP

In stand-alone Spend and Procurement Analytics:
— Opera BIQ

In stand-alone Supplier Relationship Management and Risk:
— Aravo and Sourcemap

* As Jaggaer has unified three of its product lines — Jaggaer Indirect, Jaggaer Direct and Jaggaer Advantage — into Jaggaer One, which allows customers and prospects to select the best modules from each offering to fit an organization’s unique needs, Spend Matters has broken out the naming convention for the Jaggaer offerings more specifically for Q3 2019 SolutionMap in the persona ranking graphics as follows:

— Jaggaer One is Jaggaer Sourcing, Jaggaer Supplier Management, Jaggaer Spend Analytics, Jaggaer Contracts+, and Jaggaer eProcurement, and corresponds to what was formerly Jaggaer Indirect.
— Jaggaer One+ is Jaggaer Sourcing+, Jaggaer Supplier Management+, Jaggaer Analytics+, and Jaggaer Contracts, and corresponds to what was formerly Jaggaer Advantage.
— Jaggaer One Direct is Jaggaer Direct Sourcing and Jaggaer Direct Supplier Management and corresponds to what was formerly Jaggaer Direct.

Please note: as none of the Jaggaer solutions have yet been evaluated against Q2 2019 RFI requirements by the Spend Matters analyst team, they are not able to appear in this quarter’s editions of the Provider Scoring Summaries. Please refer to the Q1 editions for their latest scoring.

This SolutionMap Insider research note provides insight into the methodology and additional changes in the Q3 2019 SolutionMap release.

(SolutionMap Insider members: access the Q3 Provider Scoring Summary reports right here.)

Q3 2019 Contract Lifecycle Management (CLM): Provider Scoring Summary

The Spend Matters SolutionMap Contract Lifecycle Management (CLM): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of Contract Lifecycle Management (CLM) providers. It is part of our Q3 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management (including supplier information management, performance management and risk management), e-procurement and invoice-to-pay providers.

Q2 2019 Contract Lifecycle Management (CLM): Provider Scoring Summary

The Spend Matters SolutionMap Contract Lifecycle Management (CLM): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of Contract Lifecycle Management (CLM) providers. It is part of our Q2 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management (including supplier information management, performance management and risk management), e-procurement and invoice-to-pay providers.

Q2 2019 SolutionMap Release Notes: Sourcing, Spend & Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management and Strategic Procurement Technology Suites

This Spend Matters SolutionMap Insider research note provides insight into the Q2 2019 SolutionMap release for Sourcing, Spend & Procurement Analytics, Supplier Relationship Management & Risk, Contract Lifecycle Management, and Strategic Procurement Technologies Suite SolutionMap areas, reviewing the process we follow and highlighting what has changed since the last release.

Within the individual areas covered in this brief, the following providers have been added to the Q2 2019 release:

  • LevaData is a new participant in the Sourcing and Spend & Procurement Analytics SolutionMap categories.
  • Procurence is a new participant in the Supplier Relationship Management & Risk SolutionMap category.

Additionally, the following providers have updated their RFIs and received updated scoring following the submission and demonstration of new and updated capabilities based on production releases of their platform. (Non-GA capabilities are not considered in SolutionMap scoring.)

In Source-to-Pay:
  • Coupa, Determine, GEP, Ivalua, and SynerTrade
In standalone Sourcing:
  • Allocation, Bonfire, EC Sourcing, Market Dojo, Scanmarket, and Wax Digital
In standalone Spend & Procurement Analytics:
  • AnyData Solutions, Sievo, Simfoni, Spendency, and SpendHQ
In standalone Supplier Relationship Management and Risk:
  • Allocation, APEX Analytix, ConnXus, HICX, and State of Flux
In standalone Contract Lifecycle Management:
  • Agiloft, Coupa-Exari, Icertis, and SirionLabs

In addition, 95 new or refreshed customer references (and 175 individual map references) were added in the Strategic Procurement Technology areas for Q2 2019.

The following providers did not update their scoring and, as a result, had their scores adjusted based on a common shift factor (that preserves positional integrity relative to peers) and any platform updates, or lack thereof, that the analysts have received since the last time the RFIs were filled out. Nearly all the providers requested a short-term delay because of the intensive nature of the expanded RFI (with nearly 800 requirements for Source-to-Pay), but we expect most of them to participate in upcoming 2019 Q3 or Q4 releases.

In Source-to-Pay:
  • SAP Ariba, Jaggaer (Indirect, Advantage, and Direct), and Zycus
In standalone Sourcing:
  • Keelvar and Scout RFP
In standalone Spend & Procurement Analytics:
  • Opera BIQ
In standalone Supplier Relationship Management and Risk:
  • Aravo and Sourcemap

This SolutionMap Insider research note provides insight into the nature of the expanded RFI, methodology and additional changes in the Q2 2019 SolutionMap release.

Comparing Coupa to Exari: Piecing Together a Top Tier Jigsaw Puzzle for CLM (SolutionMap Analysis)

With its announced intent to purchase Exari, Coupa has completed a full circle of acquisitions to bring best-of-breed applications to each area of the Strategic Procurement Technology (SPT) category of Spend Matters’ SolutionMap as Coupa expands beyond its original P2P roots.

Earlier acquisitions of Trade Extensions, Spend360 and Hiperos helped Coupa assemble an SPT jigsaw puzzle for sourcing, spend analytics and supplier management, and Exari, with its AI-based approach to deep contract modeling and analytics, represents yet another piece of an emerging tableau. And a critical one at that: In many ways, CLM forms the critical link within Coupa’s source-to-pay suite between upstream sourcing activities and downstream P2P, meaning there are significant opportunities to mine here for Coupa users in areas such as risk management, strategic supplier relationship management and, of course, savings generation.

Yet in addition to the question of how Exari fits into the larger Coupa strategy puzzle, there is also a relevant one about how the vendor fits into Coupa’s current CLM product strategy (and current contracts application), from a feature-function angle as well as a technical (integration) perspective.

As the Spend Matters Contract Lifecycle Management scoring in SolutionMap illustrates, Coupa’s current CLM capabilities are stronger in some areas than others, whereas Exari’s help set the benchmark in many areas.

When brought into Coupa, Exari would theoretically help close some of the gaps in Coupa’s offering relative to best-of-breed pacesetters, as well as suite competitors that have made investments in strong CLM capability.

The technical reality, however, is not quite as simple. Exari itself is a vendor built somewhat from acquired solutions, and while its CLM capabilities are best-in-class, its three main components (contract parsing, template creation and core CLM features) are all built on different technology stacks.

So where do Coupa and Exari fit together, and what are their areas of comparative strengths and weaknesses at the time of the acquisition?

This Spend Matters SolutionMap analysis provides an overview of the two providers’ capabilities, their comparative rankings in the CLM category and what combining the solutions into one offering could look like. It uses as the basis of comparison the Q1 2019 SolutionMap for Contract Lifecycle Management, which analyzes 13 vendors across dozens of functional categories, including contract creation and authoring, core contract modeling, analytics, expiry and renewal management, and compliance.

Q1 2019 Contract Lifecycle Management (CLM): Provider Scoring Summary

The Spend Matters SolutionMap Contract Lifecycle Management (CLM): Provider Scoring Summary is only available to SolutionMap Members. This SolutionMap analyzes a select group of Contract Lifecycle Management (CLM) providers. It is part of our Q1 2019 SolutionMap report series, also featuring spend analytics, sourcing, supplier management (including supplier information management, performance management and risk management), e-procurement and invoice-to-pay providers.