Event – Best Practice in Analytics Roadshow – Sponsored by Simfoni
The event will include in-depth case study and sharing of best practice. It is for senior management executives to better understand what their data means and how to use it in their decision making.
Simfoni Tail Spend team delivers OS&E packages for the Louvre Abu Dhabi Museum
Simfoni Tail Spend managemnt team of professionals were given responsibility to source a wide range of Operational Supplies and Equipment (OS&E) and Furniture Fittings and Equipment (FF&E) for the new Louvre museum in Abu Dhabi, which opens its doors to...
What is the Difference Between Spot Buying and Tactical Buying Within Tail Spend Management?
Continuing on in this series about how organizations can better manage tail spend, we are now turning our attention to spot buying and tactical buying. Is there a difference between these two terms, or are they one and the same...
How Important is Catalog Procurement in the Management of Tail Spend?
So far in this series, we have discussed the importance of tail spend and the implications of managing it badly, and what well-managed tail spend looks like. This time around, we will consider whether procurement catalogs have an important role to play...
What Does Well-Managed Tail Spend Look Like?
In our previous post, we discussed why tail spend is important, as well as the negative impact poorly managed tail spend can have on an organisation. Obviously, a well-controlled procurement “tail” is important and will have a beneficial effect on...
Does Tail Spend Really Matter?
The generally accepted definition of “tail spend” is the bottom 20% of purchases made by an organization (by value, volume, or both). The Pareto rule is also usually applied to tail spend in regard to suppliers, i.e. tail spend purchases...
Evolving use of Technology and Analytics in Procurement and Supply Chain.
It was a great opportunity for us to bring together a collection of interesting speakers to impart their knowledge and experience of Procurement Technology in the Middle East. On an uncharacteristically rainy February evening in Dubai, we ran the second...
Spend Analysis in 3 Easy Lessons
Spend analysis is an important sub-discipline of overall spend management and is primarily concerned with collecting, cleansing, classifying and analyzing procurement expenditure in order to find opportunities to improve purchasing efficiency and reduce an organization’s overall spend.
Top 3 Reasons Why Procurement Can Immediately Benefit From Reviewing Its Approach To Spend Analytics Right Now
We are increasingly living and doing business in a data-driven environment. This trend has affected the procurement sector as much as, or in some cases even more so, than any other business activity, and has brought with it tremendous opportunities...
Enterprise Mobile Apps Will Play an Important Role in Business Development Over the Next Few Years
Enterprise Mobile Apps Will Play an Important Role in Procurement Spend Analytics We are now living in a world where technology, especially mobile technology, has fundamentally changed the way people live, entertain themselves, work, and conduct businesses. It seems as...
Press Release: Simfoni recognized as an innovator by Spend Matters
Simfoni is delighted to have been recognized by Spend Matters as a vendor to watch in its “50 to Watch 2016” Almanac. Spend Matters, the globally recognized procurement industry commentator, have a keen eye on what is happening in the...
Unmanaged Tail Spend: Problems and Solutions : Tail Spend Solution
Tail spend, and the importance of properly managing it, has been widely discussed on our blog and elsewhere recently. By now, most senior business managers should be aware of the concept.
3 Ways Using Spend Analytics will Increase Your Procurement Efficiency
Most businesses, especially those with a business model that has a substantial purchasing element, can benefit from the implementation of a spend analytics system. Spend analysis is a process in which purchasing expenditure data is collected, organized, and analyzed in...
Better Tail Spend Management is a Clear Priority Among Procurement Professionals
In a previous post, we looked at a study undertaken by The Hackett Group, titled: The CPO Agenda: Reduce Purchase Costs, Improve Agility, and Become a Trusted Advisor, by Patrick Connaughton and Christopher Sawchuk. This time around, we are revisiting...
How to Properly Manage Tail Spend.
We are going to turn our attention to manage tail spend in such a way that “hidden” value is unlocked and costs are reduced using Tail Spend Automation. In the first four articles in this series, we looked at the...