SPONSORED CONTENT

SirionLabs launches SirionAE, an AI-driven data extraction platform that reduces the high cost of contract diligence by 50 per cent

July 24, 2020 23:31 IST | ANI Press Release
Tennis player James Blake
SirionLabs

SirionLabs today announced the release of its new analytics and contract extraction product, SirionAE.

Using the AI-driven platform, organizations can easily digitize their legacy contract portfolio and gain full visibility into risks, entitlements, and obligations from a central dashboard automatically.

SirionAE delivers a higher level of insights than competing products at five-times the speed and 50 per cent of the cost with no compromises.

End the skyrocketing cost of contract analytics and management

IACCM research shows that poor contract management costs companies 9 per cent of their bottom line. At the heart of poor contract management is the inability of most businesses to effectively access the critical business information 'hiding' deep within their contracts.

This creates significant risk, operational challenges, and financial leakage for businesses on a daily basis which gets further amplified during crises such as natural disasters and pandemics and events such as regulatory changes, audit requests, and mergers & acquisitions.

Legacy approaches have failed to address these gaps effectively. Manual extraction is slow and error-prone while conventional CLM and contract discovery tools prove to be expensive, cumbersome to configure, and address limited use cases due to their narrow and basic extraction capabilities.

Enter SirionAE

Unlike other software tools, SirionAE goes beyond basic metadata to capture out-of-the-box 100 plus fields across clauses, obligations, service levels, rate tables, and more to digitize the heart of legal and business promises made, and consequences if those promises are not kept, between counter-parties.

The system replaces rule-based AI with neural-network-based technology that's able to re-train itself on new contract types within days, versus weeks and months, and helps businesses pull insights from complex contract types across procurement, sales, finance, legal, operations, and delivery.

SirionAE, whilst natively integrated into the Sirion CLM platform, as a stand-alone product can accelerate the ROI on a company's existing investments in digital contract repository, document management, P2P, and ERP solutions.

"Organizations still face massive challenges in extracting valuable insights from digital contract repositories during M & A due-diligence, repapering exercises to adapt to new regulations such as GDPR, disruptions such as COVID-19 and for managing their own legal and operational obligations to customers or those of their vendors," said Ajay Agrawal, CEO and Founder of SirionLabs.

"SirionAE will significantly lower the barrier for companies who need a better way to manage agreements, but can't afford the high costs and durations associated with risk analysis, diligence and compliance," added Ajay.

To learn more, you may download our new whitepaper or visit the SirionAE product page. To request a demo, or to attend our invitation-only product launch event on Aug 13th, that will highlight product use cases and best practices, please email marketing@sirionlabs.com.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

 

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

SirionLabs launches SirionAE, an AI-driven data extraction platform that reduces the high cost of contract diligence by 50 per cent

SirionLabs today announced the release of its new analytics and contract extraction product, SirionAE.

Using the AI-driven platform, organizations can easily digitize their legacy contract portfolio and gain full visibility into risks, entitlements, and obligations from a central dashboard automatically.

SirionAE delivers a higher level of insights than competing products at five-times the speed and 50 per cent of the cost with no compromises.

End the skyrocketing cost of contract analytics and management

IACCM research shows that poor contract management costs companies 9 per cent of their bottom line. At the heart of poor contract management is the inability of most businesses to effectively access the critical business information 'hiding' deep within their contracts.

This creates significant risk, operational challenges, and financial leakage for businesses on a daily basis which gets further amplified during crises such as natural disasters and pandemics and events such as regulatory changes, audit requests, and mergers & acquisitions.

Legacy approaches have failed to address these gaps effectively. Manual extraction is slow and error-prone while conventional CLM and contract discovery tools prove to be expensive, cumbersome to configure, and address limited use cases due to their narrow and basic extraction capabilities.

Enter SirionAE

Unlike other software tools, SirionAE goes beyond basic metadata to capture out-of-the-box 100 plus fields across clauses, obligations, service levels, rate tables, and more to digitize the heart of legal and business promises made, and consequences if those promises are not kept, between counter-parties.

The system replaces rule-based AI with neural-network-based technology that's able to re-train itself on new contract types within days, versus weeks and months, and helps businesses pull insights from complex contract types across procurement, sales, finance, legal, operations, and delivery.

SirionAE, whilst natively integrated into the Sirion CLM platform, as a stand-alone product can accelerate the ROI on a company's existing investments in digital contract repository, document management, P2P, and ERP solutions.

"Organizations still face massive challenges in extracting valuable insights from digital contract repositories during M & A due-diligence, repapering exercises to adapt to new regulations such as GDPR, disruptions such as COVID-19 and for managing their own legal and operational obligations to customers or those of their vendors," said Ajay Agrawal, CEO and Founder of SirionLabs.

"SirionAE will significantly lower the barrier for companies who need a better way to manage agreements, but can't afford the high costs and durations associated with risk analysis, diligence and compliance," added Ajay.

To learn more, you may download our new whitepaper or visit the SirionAE product page. To request a demo, or to attend our invitation-only product launch event on Aug 13th, that will highlight product use cases and best practices, please email marketing@sirionlabs.com.

This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.

DISCLAIMER


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

image
Business Standard
177 22