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Most Innovative Companies

SirionLabs

The World's Most Innovative Companies 2017

Contract legalese can make anyone zone out after one paragraph—but in business, as in life, if you snooze, you lose. SirionLabs’s contract-management system turns the whereofs and thereins into wording that’s discernable to the platform, which then organizes the services, expectations, payments, and penalties for the client to track. Such managing of contracts is becoming ever-more crucial, says SirionLabs marketing manager Indus Khaitan, as economies shift to contracting out for services rather than performing them in-house. Say a medical practice contracts with a company servicing photocopy machines. The copiers occasionally falter or jam, but the technician doesn’t arrive for days instead of the contracted-for hours. The contract’s penalties for those delays are collectible funds, to say nothing of the value of the practice’s lost productivity and of sending staff to shops to get the printing done. The platform calculates all those agreed-upon ramifications—and does so on a big scale. SirionLabs’ clients include corporations in the beverage, transportation, credit card, insurance, oil, and telecommunications industries. To give a sense of what’s at stake: Each client pays an average of $250,000 annually, accounting for its nearly $5 million annual revenue. SirionLabs claims it saved clients close to $100 million in 2016. 

Lists
2017: India
Data
staff: 183
headquarters: Gurgaon, India
SirionLabs On The Web
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