Tail Spend Management in the Trenches: Lessons Learned and Questions Answered
Spend Matters recently hosted a webcast exploring how Owens & Minor revamped its tail spend management strategy using Simfoni, a procurement solutions provider with specialized capabilities in this area.
What is Procurement Analytics? Why and how it is implemented?
What is Procurement Analytics? Procurement analytics is the process of using quantitative methods to derive actionable insights and outcomes from data. It involves the capture and use of data to support fact-based decision making and gaining competitive advantage. It reports...
Why is Spend Analytics important?
Spend Analytics California State University has created a program on Spend Analytics and implemented it, presenting a clear sight to campuses and Chancellor’s Office to bring more savings. The California State University (CSU) previously identified billions of spend in 2011...
Savings Management: Methods to Save More
Savings Management in procurement refers to activities related to forecasting procurement savings based on strategic sourcing plans, mapping savings to the budget, and tracking savings realization. Before you begin generating funds, you should get familiarized with several theories that comprise...
Tail Spend Management Webinar
Hear from Simfoni client Jean-Pierre Pinsonneault, Vice President Global Indirect Procurement at Owens & Minor about how the Fortune 500 healthcare distributor has been successfully tackling tail spend.
Why a Marketplace Model is a Key Part of a Tail Spend Solution
For many procurement organizations, catalogs have become the default way to manage indirect spend. It’s easy to see why. Catalogs offer a simple way to manage recurring, low-value purchases. By grouping previously sourced categories and commonly requested items into a...
Tail Spend Technology is Not Just Available, Its On-Demand
Procurement has firmly entered the tail spend era, and with necessary tools now available to tackle this persistent purchasing problem, supply organizations are finally consolidating costs, cracking down on unauthorized spend and clawing back lost time to deliver real value...
Technology to Solve Procurement’s Persistent Tail Spend Problem is Available.
Tail spend frustrates many procurement groups. It’s messy, it’s complex and it’s time-consuming to tackle. Inking big deals and keeping stakeholders happy seem like far better priorities for the typical category manager, since that’s how he can turn executive heads...
Simfoni recognized as a leading vendor for 3rd year in succession
The Spend Matters 2018 Almanac has been released today and Simfoni is delighted to announce that – for the 3rd year in succession – it has been recognized in the “Top 50 to Watch” category amongst leading technology vendors in...
Simfoni’s ‘Virtuosi’ Analytics Recognized as a leader by Spend Matters
We are delighted that Spend Matters have recognized Virtuosi™ Analytics as a Leader in their latest assessment report on spend analytics. Spend Matters assesses solutions on two primary axes; an Analyst score derived from an in-depth technical review of the...
Simfoni recognized at World Procurement Awards in “Best New Procurement Technology” category
The finalists for the World Procurement Awards 2018 have been released today and we are pleased to announce that Simfoni – the spend analytics and tail spend management specialist – has been nominated in the category “Best New Procurement Technology”.
Why has Simfoni been nominated for a Best Procurement Technology Award?
The finalists for the World Procurement Awards 2018 were released this week and we are pleased to announce that Simfoni – the spend analytics and tail spend management specialist – has been nominated in the category “Best New Procurement Technology”.
Tail Spend is too good to be true – and that’s a problem!
Simfoni manages tail spend for clients all over the world and across many different industries. But regardless of geography or sector, I have gained 2 important insights that are vastly out of sync with the common theory about tail spend;...
Spend Analytics’ in action and its benefits.
Spend analytics are basically focused on the improvements that are required to be made in the operational sector. Analytics is mainly the systematic data or the information that is received from that data. The hidden working that causes the big...
Savings management in a firm. How a savings software helps in it?
Savings management in terms of finances is termed as the forecasting or estimation of the savings on the basis of plans carried out under every activity. Every firm keeps aside a definite amount of transaction or returns which are called...