AITech Interview with Kanti Prabha, Co-founder at SirionLabs
With an AI-powered Contract Lifecycle Management (CLM) system, SirionLabs delivers insights that can help businesses answer critical questions, identify underperforming relationships, locate upsell opportunities, and uncover hidden risks. Under the leadership of its Co-founder, Kanti Prabha, the team realized the importance of contract authorship and ownership and expanded its platform to include AI to maximize the bottom line.
In this interview, Kanti will discuss how SirionLabs uses AI to revolutionize the way businesses approach contracts, and the impact it has on companies in today’s uncertain economic climate.
Kindly brief us about yourself and your journey as the co-founder at SirionLabs.
I’m one of the co-founders of the leading AI-powered contract lifecycle management (CLM) company, SirionLabs. At the beginning of my career, I graduated with a degree in chemistry and after college was working a job reviewing patents. That is when Sirion’s co-founder and CEO Ajay Agrawal approached me. He was planning to launch a patent start-up and told me about his vision for the business. I was instantly interested in joining him.
Our first customer was Hewlett-Packard (HP). They had recently gone through a large acquisition and asked us to put thousands of contracts into a centralized, searchable repository. Starting from scratch, we built a software platform that made this task possible. During this process, Ajay and I quickly realized the other opportunities in contract lifecycle management (CLM). It has been very rewarding to continue to expand our offerings, as our market reach continues to grow.
Please share your source of inspiration for exploring various facets of technology and contract businesses.
We started SirionLabs to create technology that would help companies manage complex contracts in the post-signature process throughout the contract lifecycle. We wanted to save customers money, reduce complexity, and break contracts down into something easy to understand. The goal was to create access to information held in contracts across an enterprise, allowing different people within an organization to access contracts. It did not take us long to realize the homecourt advantage to drafting your own contracts, because whoever authors the contract technically owns it, and so we joined the contract authoring space.
As our platform became more advanced, we began to infuse AI into the CLM processes to maximize the bottom line. A CLM system powered by AI unlocks the wealth of insights contained in contracts, delivering answers to a range of critical questions, such as why some business relationships are underperforming, where to upsell clients, and where hidden risks exist. Having such strategically critical information at your fingertips is a formidable strategic advantage, especially in an uncertain economic climate.
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