KPMG has announced a new strategic alliance with SirionLabs which will aim to focus on helping enterprises accelerate their business transformation journey to drive better outcomes in third party relationships.
A combination of both KPMG’s experience in solving complex business problems and Sirion’s platform for integrated management of an organization’s commercial relationships, this alliance is said to offer enhanced possibilities for driving business performance.
KPMG said that organizations are continuously looking to transform their business across multiple dimensions – revenue, cost, risk, compliance, agility, innovation, collaboration, and more.
Central to these transformation objectives is the ability to effectively manage third-party relationships including customers and suppliers, and the underlying contracts that drive those relationships.
Nicola Brooks, head of contract management transformation for KPMG Law, said: “We see Contract Management as a strategic enterprise capability that delivers commercial value. All too often we find that contracting is siloed and an administrative burden on sales, procurement and legal.
“We challenge leaders to think about contracting in a new way. We’re excited to announce that ‘there is a better way’ to approach managing contracting with our relationship with SirionLabs.”
High on the transformation agenda is digitalization, which has taken center stage during the Covid-19 pandemic.
In KPMG’s 2020 Global CEO Outlook survey, it revealed that 80% of CEOs said that more digital acceleration had occurred within the last few months than in the previous few years. A dis-jointed digital transformation strategy, however, can amplify the gaps within a business rather than bridging them.
The KPMG-SirionLabs alliance will help clients drive rapid digitalization of the complete lifecycle of supplier and customer engagements (including contract creation, performance management, invoice validation, relationship management, risk management and advanced analytics).
At the same time, it will also reportedly help the accountancy firms clients deliver a more “cohesive enterprise” by enabling visibility, alignment and collaboration across major functions including legal, procurement, commercial, sales, delivery, and finance.
Amol Joshi, chief revenue officer, SirionLabs, said: “Sirion CLM is uniquely positioned to help enterprises transform into agile, resilient, and cohesive businesses to effectively meet the threats and opportunities of the post-COVID world.
“As the go-to firm for business consulting, KPMG is the trusted advisor helping organizations navigate this journey to future-proof themselves. We are excited and proud to collaborate with KPMG and bring this unprecedented combination of technology and expertise to our clients.”