“While value leakage can take up 25% of annual contract value (ACV), invoicing inaccuracies alone can bleed 12% of overall spend.”
Routine processes for procuring and paying for services used to be simple, but in today’s business environment, they’re fundamentally broken. Complex services engagements in particular feature rampant waste: invoicing inaccuracies alone can bleed 12% of overall spend. Though not a glamorous problem, it is persistent, widespread and very costly - and deserves attention and operational remedies.
The Sirion platform is purpose-built to plug value leakage caused by invoicing inaccuracies. For the first time in the evolution of CLM technology, the way contracts are authored will transform each stage of the subsequent contract lifecycle, including how invoicing will be performed. With a dedicated, three-step solution to address each challenge with specific remedies, Sirion dramatically reduces invoicing errors and eliminates the need for manual data conversions and reconciliations.
Download this whitepaper to understand what makes invoicing errors so widespread and how Sirion’s unique functionality can eliminate them to deliver true value.