Sirion Named a Leader in the 2024 Gartner® Magic Quadrant™ for Contract Lifecycle Management for Third Consecutive Year

Barchart · 10/17 10:47

Sirion, the AI-native contract lifecycle management platform, today announced it has been named a Leader in the 2024 Gartner® Magic Quadrant™ for Contract Lifecycle Management (CLM) for the third consecutive year. We feel this continued recognition as a Leader reflects the trust the world’s leading companies place in Sirion. Download a complimentary copy of the full report here.

Customers trust Sirion’s AI-native CLM because its foundation model intelligently adapts and explains the “why” behind each answer. As users engage with Sirion, their feedback informs and improves its algorithms, ensuring that the platform continuously learns and delivers increasingly relevant and accurate insights.

“The convergence of AI and contract management is transforming how modern enterprises operate, offering a significant competitive advantage to those that embrace this innovation,” said Joanne Wright, SVP of Transformation and Operations at IBM. “We are excited about our collaboration with Sirion in this space—both as a customer leveraging Sirion’s AI-native CLM platform to unlock contract intelligence across IBM’s business processes, and as a technology partner with IBM watsonx powering Sirion’s multi-model generative AI approach.”

“At Sirion, we know that with generative AI trust is everything,” said Ajay Agrawal, Founder and Chief Executive Officer at Sirion. “For our customers trust is delivered through a specific focus on explainability, security and accuracy. If a CLM engine suggests an answer to a conversational query or automatically redlines a contract, the user needs to know why they can rely on that recommendation. In Sirion, the redlines and answers are accompanied by plain language explanations and links to its data source. This transparency gives users the confidence that they can trust our AI to make informed decisions.”

This emphasis on trust reemerges as a common theme across Sirion’s customer base. Together, the feedback from our customers contributed to Sirion being recognized as a Customers’ Choice in the 2024 Gartner Peer Insights™ Voice of the Customer for CLM. With innovative AI capabilities like advanced extraction, conversational search, and AI-led negotiation, Sirion will continue to pioneer the application of generative AI to transform the way enterprises manage contracts.

Learn more about the 2024 Gartner Magic Quadrant for Contract Life Cycle Management here.

About Sirion

Sirion is the world’s leading AI-native CLM platform, it has been a pioneer in applying generative AI to help enterprises transform the way they store, create, and manage contracts. The platform’s extraction, conversational search, and AI-led negotiation capabilities have revolutionized contracting across enterprise teams – from legal and procurement to sales and finance. The world’s most valuable brands such as BNY Mellon, IBM and Vodafone trust Sirion to manage 7M+ contracts worth nearly $800B and relationships with 1M+ suppliers and customers in 100+ languages.

For more information, visit www.sirion.ai.

Gartner disclaimer

Gartner, Magic Quadrant for Contract Life Cycle Management, Kaitlynn Sommers, Kerrie McDonald, Lynne Phelan, 14 October 2024.

Gartner, Voice of the Customer for Contract Life Cycle Management, Peer Contributors, 22 March 2024

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