SirionLabs’ new integration of its contract lifecycle management (CLM) software with Salesforce has several meaningful implications for in-house legal teams, according to SirionLabs General Counsel Evangelos Apostolou.
By leveraging the customer relationship information available in Salesforce combined with the AI-powered SirionOne CLM platform, legal departments can quickly access detailed information to guide their risk assessments of contracts.
This could include reviewing past agreements for terms pertaining to indemnity, liability, termination and warranty, as well as CSR or HIPAA provisions.
“Literally with a touch of a button you're able to answer questions that in previous years would have taken an army of people weeks,” Apostolou told Legal Dive. “That in itself is going to give you incredible positioning in the market in terms of insight and in terms of proximity to your customer.”
Increased contracting speed
Legal teams securing access to key contracting information more efficiently through SirionOne appearing on the Salesforce AppExchange should also enable in-house lawyers to more quickly provide contract feedback and necessary approvals, Apostolou said.
“Different legal departments will experience optimal efficiency in different ways depending on what their pain points are,” he said.
This in turn should engender goodwill from other company departments, such as sales, which value accelerated contract approvals.
Additionally, faster contract turnarounds typically provide a boon to business, particularly when coupled with improved connections with customers.
“Anything that gives you an advantage of time with respect to understanding your customer relationship will give you an advantage in the marketplace,” Apostolou said.
Chemours, a global chemical manufacturing company, has reported that SirionLabs integration with Salesforce has already helped reduce contract cycle time.
One driver of this development is that “with real-time synchronization between the two platforms, up-to-date customer information from Salesforce is readily available in SirionOne to cut down the time needed to create the initial contract draft,” said Rebecca Smith, senior project manager at Chemours, in a prepared statement.
Other integration announcements
SirionLabs is not the only CLM provider to tout new integrations in recent months.
In late June, Agiloft announced its new Integration Hub powered by Workato, the enterprise automation company.
The company said the hub results in hundreds of business apps being easily connected, which facilitates use cases ranging from streamlining purchase orders to expediting customer entitlements.
“The key to truly unlocking the power of CLM is the integration with other systems,” said Andy Wishart, Agiloft’s chief product officer, in a prepared statement. “Our newly enhanced Connected Experience Platform sets a new bar in the market in its ability to deliver industry-leading manageability, data flow, and connection with corporate governance systems.”
LawVu, a technology platform designed for in-house legal teams, features a CLM tool. CEO Sam Kidd highlighted during a recent interview with Legal Dive that LawVu features integrations with Microsoft Outlook, Slack and Gmail, among other technologies.
In late August, the company announced a new integration with Microsoft SharePoint, a web-based collaborative platform.
“It provides seamless and automatic syncing of files between LawVu and SharePoint, enabling in-house legal teams to be more efficient and collaborative without disrupting work,” LawVu said in its announcement.