SirionLabs Unveils Several Patent-Pending AI Updates
SirionLabs, the leading AI-powered contract lifecycle management (CLM) platform, announces the next phase of its evolution with several patent-pending applications to help businesses improve decision making and harness the full value of contracts.
The patents, which were filed over the last two years, deal with the automated extraction of performance segments and metadata values within contract documents, as well as the method and system for determining risk scores post analysis. They fulfill the promise of smart contracting technology with full visibility into obligations, entitlements and exposure to invoice leakage.
In addition to its central SirionCLM platform, SirionLabs has leveraged recent improvements in deep-learning technology to provide businesses with granular insights into contract documents to improve business outcomes.
It’s latest offering, SirionAE, goes beyond basic metadata to capture 100s of out of the box fields including clauses and service levels, and retrains itself on new contract types within days, versus weeks and months. Acting as a single source of truth across teams like finance, legal, operations, procurement and sales, the platform now processes more than 1M documents per day, where customers are seeing an increase in tasks through automation by as much as 50%.
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