News | October 25, 2022

Chain IQ, Global Leader In Indirect Procurement Services, Selects SirionLabs To Enhance Its Digital Procurement Capability

SEATTLE--(BUSINESS WIRE)--

SirionLabs, the global leader in AI-powered contract lifecycle management (CLM), today announced procurement service provider Chain IQ, an independent global leader in indirect procurement services, has selected Sirion’s AI-driven CLM platform, SirionOne, to standardize contracting management throughout its operations.

The Sirion selection is the result of an exhaustive process by Chain IQ to identify and implement a best-in-class CLM solution. After conducting thorough research, the company identified Sirion as a leader in AI and contract digitization, as well as a CLM provider with a clear commitment to customer success.

Chain IQ’s choice of Sirion was reaffirmed by the recent announcement that Sirion was named a Leader in the 2022 Gartner Magic Quadrant for Contract Lifecycle Management.

“Even before Gartner named Sirion a CLM leader, our search for a cloud-based, best-in-class CLM solution had led us to the SirionOne platform,” said Marcel Stalder, CEO of Chain IQ. “Providing a centralized repository across the organization will reap real benefits, while SirionOne’s capacities for accurately extracting contract intelligence will allow us to gain significant efficiencies in our contracting processes and uncover hidden opportunities to generate money not just for our company but, even more importantly, for our customers.”

With 14 offices around the world providing service to customers in over 49 countries, Chain IQ required a full-scope CLM platform that could capture contract data across multiple operations and languages to standardize its contracting processes for faster workflows, stronger negotiations, and smarter insights. It needed a solution that not only could digitize contracts but also could leverage the intelligent data within the contracts for cost savings and risk analytics. As a service company providing strategic, tactical and operational procurement services for its clients, Chain IQ also sought to leverage its procurement intelligence to the benefit of its customers. It will partner with Sirion to combine the benefits of the SirionOne platform with its own intelligence to deliver savings for Chain IQ customers.

“Enterprise customers are discovering the compelling technology advantages that a CLM platform can deliver, and we are excited that Chain IQ has selected us to lead their digital transformation,” said Ajay Agrawal, CEO and Founder of Sirion. “It confirms not only our recent recognition as a Leader in the 2022 Gartner Magic Quadrant but also what we hear from our customers on a daily basis: SirionOne is a transformational tool with AI-led capabilities that are unmatched in the CLM market.”

Recognized as a leader in the 2022 Gartner Magic Quadrant for Contract Life Cycle Management, the 2021 Forrester Wave for Contract Lifecycle Management and the 2021 IDC MarketScape for CLM, Sirion recently doubled its capitalization with an $85 million Series D investment to support scaling its operations and accelerate its development, quality assurance and test automation abilities.

About SirionLabs

Bringing together category-leading innovation, unrivaled Contract Lifecycle Management expertise, and a deep commitment to customer success, SirionLabs helps the world’s leading businesses contract smarter. Powered by intelligence uniquely connected across the complete contract lifecycle, Sirion’s easy-to-use, highly configurable Smarter Contracting platform brings legal, procurement, sales, and business teams together to author stronger contracts, improve risk management and strengthen counterparty relationships. Sirion is trusted by over 200 of the world’s most successful organizations to manage 5+ million contracts worth more than $450 billion across 70+ countries. For more information, visit www.sirionlabs.com

About Chain IQ

Chain IQ is a leading global independentindirect procurement service company. Chain IQ supports their corporate clients across a multitude of industries in more than 49 countries in strategic, tactical and operational procurement services. Chain IQ’s growing organization with procurement experts around the globe, both on and offshore, is known for generating significant value through volume bundling from its global clients, digitalization of procurement processes as well as achieving latest ESG standards. For more information visit www.chainiq.com.

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