Simfoni took home the prestigious award for ‘Best Procurement Consultancy’ for a complex Spend Analytics Project during the CIPS Middle East Supply Management Awards 2021 which was hosted virtually on Tuesday 9th February and moderated by Sam Achampong, Head of … Read More
Simfoni Blog
Blog
What is Supplier Management? Why and How it is Implemented?
In Procurement, Supplier Management refers to the meticulous process of managing and improving interactions with third-party vendors that provide goods or services. This includes assessing the suppliers’ strengths and capabilities in the entire lifecycle of a supplier in an organization … Read More
Simfoni Announces Achievement of SOC 2 Type I Certification, Boosting Its Commitment to Security
Simfoni, a global innovator in Spend Analytics and Spend Management, proudly announces today it has completed its Service Organization Control (SOC) 2 Type 1 examination. The audit was conducted by Assure Professional, a leading cybersecurity, assurance, and compliance solutions provider, … Read More
Product Cost Management Expert Eric Hiller Appointed Managing Director of What’s the Price USA
Simfoni Limited, a global innovator in Spend Analytics and Spend Automation, announces the appointment of Eric Hiller as Managing Director of its What’s the Price (WTP) USA division, following its partnership with Buynamics, the leading negotiation insight software vendor. As part of … Read More
Simfoni and Supplier.io enter into strategic partnership for Vendor Diversity Analytics.
Simfoni, a next generation digital solutions provider for procurement analytics and spend automation, and supplier.io, a pioneer in the field of supplier diversity tracking, today announced a strategic partnership to bring Supplier Diversity Analysis in Simfoni to the US market. … Read More
What is Purchase Price Variance? Why and How is it Calculated (PPV)?
In Procurement, Purchase Price Variance (PPV) is the difference between the standard price of a purchased material and its actual price. In Short, Purchase Price Variance = (Actual price – Standard price) x Quantity purchased. What is Purchase Price Variance … Read More
Spend Forecasting is the most important tool for Procurement. Why?
Spend Forecasting is the most important tool for Procurement. Why? Simfoni’s Spend forecasting software combines the analysis of historical data with progressive prediction processes and business intelligence from several sources. Easily predict future profitability and create a forward-looking view on … Read More
What is Category Management. How and Why is it Important?
Category Management is a strategic approach to procurement where businesses segment their spend into areas that contain similar or related products enabling focus opportunities for consolidation and efficiency. When we think of a company and its several departments, we must … Read More
Simfoni and WTP Buynamics Enter Into Joint Venture to Bring Market-Leading Should Cost Modelling to USA
Simfoni, a next generation digital solutions provider for procurement analytics and spend automation, and WTP Buynamics, an innovator in the field of should cost modelling and vendor rating solutions, today announced a joint venture partnership to bring “What’s the Price” … Read More
6 Ways to Support Supplier Diversity by Increasing Supplier Spend to Minority-owned, Diverse and Small Businesses.
Supplier Diversity refers to an organization’s efforts to include suppliers in its supply chain and sourcing process that are owned by a minority or disadvantaged group including, people of color, women, veterans, disabled and LGBTQQIA+. George Floyd died on Memorial … Read More
