Sirion Ranks High in Gartner Critical Capabilities for Contract Lifecycle Management 2023

By AIT News Desk On Nov 3, 2023

Sirion, the global leader in AI-powered contract lifecycle management (CLM) announced it has been ranked the highest in all five Use Cases in the 2023 Gartner Critical Capabilities for CLM report – Full Life Cycle, Pre-Signature, Pre-Signature (Third-Party-Generated Contracts), Post-Signature and Post-Signature (Advanced).

“We believe that our highest rank in the Gartner Critical Capabilities report Use Cases shows Sirion’s ability to provide customers with value across every stage of the contract lifecycle,” said Kanti Prabha, Co-founder & President at Sirion. “Contracting is mission-critical for every business; the ability to manage and extract optimal value from your contracts all the way from pre-negotiation to the renewal of an agreement is becoming increasingly important. We feel ranking highest in all 5 Gartner Critical Capabilities Use Cases shows our commitment to innovation, AI advancements, and helping businesses across the globe contract smarter together.”

The Critical Capabilities report is an essential companion to the recently published 2023 Gartner Magic Quadrant, in which Sirion was named a Leader. It provides deeper insight into the CLM market by extending Magic Quadrant analysis. This year’s report evaluates 16 CLM platforms on 11 critical capabilities and five Use Cases across the contract lifecycle, which we feel makes it easy for enterprises to evaluate CLM vendors and their ability to support prioritized use cases.

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Gartner states that, “The CLM market is very saturated, with tools appearing to have similar product offerings, making it hard for clients to decipher their best-fit CLM tool. This research helps application leaders compare and select vendors’ software according to their ability to support prioritized use cases.”

“The increasing complexity of contracts and the need to manage risk are driving the demand for CLM solutions that help enterprise teams optimize the value of every business transaction,” said Sujay Rao, Chief Product Officer at Sirion. “Our mission is to stand out from other CLM platforms by continuing to build a product that equips teams with the right tools and AI capabilities, including generative AI, to extract custom insights, highlight risks, improve the drafting experience, and track contract performance. The Gartner Critical Capabilities report shows us that we’re on the right path to fulfilling these needs for our customers.”

Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner research organization and should not be construed as statements of fact. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

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