User experience, efficiency and superior reporting features cited as key reasons behind decision
SirionLabs, a provider of AI-powered contract lifecycle management (CLM), announced a new business engagement with MediaKind, a global change leader in media technology and services. SirionOne – SirionLabs’ end-to-end smarter contracting platform – has been selected by MediaKind to transform its contract management strategy.
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MediaKind’s evaluation team measured SirionLabs on both risk management and compliance Management solutions, identifying several key elements of the SirionLabs platform that ultimately exceeded their requirements. SirionLabs will enable MediaKind to automate, optimize and simplify its contracting processes through a single, AI-enabled platform. MediaKind will benefit from shorter contracting cycle times, reduced manual/email-based reviews & approvals, and a central repository that provides easy access to all its legacy and on-going contracts and capabilities to search and report on the same.
“Across the board, our selection team felt SirionLabs was the superior choice based on our needs and SirionLabs’ platform feature set, implementation and service records. Another plus point was the platform’s intuitive user interface,” said Yan Farah-Lajoie, Head of Sourcing and Procurement at MediaKind.
SirionLabs was unanimously selected from amongst eight suppliers, following a three-month evaluation process based upon 200 business requirements. A key feature noted by MediaKind was ease of user adoption. Additionally, SirionLabs’ MS Office plugins – which allow users to maintain current workflows and seamlessly integrate their existing documents into the SirionOne platform – have been widely embraced by the MediaKind team.
Fluxym, a trusted Source-to-Pay advisory partner, recommended SirionLabs as the best technology provider to meet MediaKind’s contract management needs. In collaboration with SirionLabs, MediaKind will be able to enhance the current contract repository capabilities by transforming contract data into actionable objects through AI-led capture and analysis of contract metadata covering obligations, milestones, deliverables, etc. The implemented solution hence contributes, through operational excellence and seamless interaction with suppliers, to MediaKind’s competitive advantage.
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“Innovation without purpose is of little value to the customer,” said Rajeev Kumar, Chief Revenue Officer at SirionLabs. “Designing a solution that enables companies to leverage the power of artificial intelligence to evaluate their suppliers and work collaboratively with them in a way that positively affects a company’s bottom line is what our solution thrives on. SirionLabs is proud to support MediaKind’s contract management journey, helping drive digital transformation and providing enhanced business outcomes, savings and efficiencies.”
“As MediaKind is the innovation leader in media technology, the fit with the most advanced CLM solution is obvious. Along with SirionLabs, the leader in contract management, we are looking to help MediaKind gain greater visibility and optimum supplier performance. On top of this, the complementarity with Fluxym providing advisory and implementation expertise to get the maximum of the solution is the recipe for fast ROI,” said Thierry Jaffry, Senior Vice President, Americas at Fluxym.
SirionLabs’ SirionOne platform allows customers to digitize and streamline all phases of the contract lifecycle for sales, procurement, finance, legal, and all other enterprise functions on an integrated, AI-powered platform. The solution creates a single source of truth and connects teams through real-time contract intelligence enabling unprecedented collaboration across the contracting lifecycle. Specifically, the vendor / supplier management module helps companies plug spend leakage and work on strategic supplier engagements while focusing on improving and tracking supplier performance throughout the contract lifecycle.
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