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...
Why it is Important to Properly Manage Tail Spend – (Part 3)
Just about every person in the business community is familiar with the Pareto Rule, also known as the 80/20 rule, i.e. that approximately 80% of a business’s sales and profits will come from approximately 20% of sales or customers. When...
Why it is Important to Properly Manage Tail Spend – Studies and Expert Opinion, Part 2: Identifying and Segmenting Tail Spend for Better Management
In the first article in this series, we looked at a report from The Hackett Group This time around, we are having a look at a white paper from Accenture, titled Getting a Grip on Tail Spend, by Ralf Mägerle,...
What is Tail Spend Management and Why Does it Matter to a Business?
Tail spend refers to all the unmanaged high-volume and low-value transactions that take place within an organization. Tail Spend Management Solutions by Simfoni actively manages maverick spending by consolidating 80% of suppliers who account for 20% of procurement spend and...
Simfoni announces new partnership with Spend Matters
Simfoni, a leading provider of enterprise mobile apps for business, Analytics & Tail Spend Management Services recently announced it has formed a key partnership with Spend Matters. The Associate Sponsorship allows Simfoni to continue to position itself as a leader...
![Why it is Important to Properly Manage Tail Spend. [Part 1]](https://simfoni.com/wp-content/uploads/2016/02/iStock_000061419362_Small.jpg.webp)
Why it is Important to Properly Manage Tail Spend. [Part 1]
Why it is Important to Properly Manage Tail Spend. Part 1: Manage Your Tail Spend Better and Save Up to 10% on Purchasing Costs Over the last few years, the importance of managing tail spend has become a regular talking...
Four Things You Should Do With Spend Analytics Data : Spend Analytics Solutions
Simfoni, a leading provider of Spend Analytics Solutions & Tail Spend Management & Analytics. Once you take the time to compile a full spend analytics report, there are many things you can do with the data you collected. Here are a...
The Challenges of Tail Spend Management – Why Corporate America Isn’t Managing Its Tail…and How We Can Start
Tail Spend Management - As market share gains become harder to realize and competition drives prices down, companies are looking to cost reduction initiatives as the easiest path to increased profits.
Escaping the “pay less” cycle – Three alternate spend strategies to drive savings
The article discusses three additional spend “levers” that appear straight-forward on the surface but seldom get the attention they deserve, let alone reach the point where they become ingrained in corporate spending culture.
Understanding Tail Spend – What it is, Why you care and What’s to be done
If you’ve been reading the procurement trade publications over the past year, you will have noticed a lot of discussion about the importance of understanding and managing tail spend in large or geographically dispersed organizations. The fact that tail spend...