Beyond the Hype: Managing Our Expectations of AI in the Age of ChatGPT
“We overestimate the impact of technology in the short-term and underestimate the effect in the long run.” – Ray Amara, Stanford computer scientist Tweet Simfoni’s Chief Technology Officer Alan Buxton shares insights into expectations around the capabilities of AI and...
4 Spend Data Differentiation Strategies That Will Set Your Company Apart
Data is one of our most important assets in 2023. Companies are using data to improve their products and services, understand their customers better, and make better business decisions. However, not all data is created equal. For companies to truly...
The Power of Strategic Sourcing: How Supplier Engagement and Technology Can Boost Your Procurement Function
Procurement is no longer just about finding the cheapest price for goods and services. Instead, it’s about finding suppliers who can provide the best value for your organization. This is where strategic sourcing comes in. What is Strategic Sourcing? Strategic...
The Top Three Procurement Challenges We’re Seeing in 2023
In a world where market dynamics and supply chain management are constantly evolving, businesses must understand and keep up with the latest procurement topics and challenges. Let’s discuss the top three procurement challenges we’ve observed in 2023 and what they...
Simfoni’s David Bush and Zoya Ali Khan named 2023 ‘Pros to Know’ by Supply & Demand Chain Executive Magazine
Simfoni celebrates female leadership in procurement with SCDE recognition of Zoya Ali Khan Simfoni is pleased to announce that David Bush, CEO of Spend Automation, and Zoya Ali Kahn, Commercial Director of the UAE region have been recognized by Supply...
How AI is Solving the Biggest Challenge in Automotive Procurement
Artificial intelligence (AI) is revolutionizing the way we live and work, and the automotive industry is no exception. From self-driving cars to supply chain management, AI is transforming every aspect of the automotive industry. While most of the focus in...
3 Ways to Ensure High Quality Spend Data
High-quality spend data is essential for any business looking to optimize its procurement processes. However, achieving this can be challenging. Procurement data, and in particular indirect, or ‘tail spend,’ can be difficult to manage. If left unchecked, this can lead...
Spend Under Management Part Three: Achieving the ‘Closed-Loop’ Spend Management Model
In our previous two installments, we’ve discussed the spend-under-management (SUM) framework. Specifically, how it provides executives with a simple outcome-based model that drives the necessary organizational changes needed within the procurement function to capitalize on unrealized savings. SUM transforms what...
Simfoni Client Emaar Properties Wins 2023 ‘Digital Transformation of the Year’ Award at Middle East Procuretech Summit
This week, Emaar Properties, a world renowned multi-national real estate development company based in the UAE, joined Simfoni at the 2023 Middle East Procuretech Summit where they were awarded with the prestigious Digital Transformation Initiative of The Year Award. The...
Spend Under Management Part Two: The 5 Key Principles of Proper Spend Management
In our last post, we discussed adopting spend under management (SUM) and the first of the five principles: Spend Under Management Part One: Connecting Procurement to Your Core Business Spend Under Management Part Two: The 5 Key Principles of Proper...
Spend Under Management Part One: Connecting Procurement to Your Core Business
Procurement is still often seen as a non-strategic back-office function. This is because practitioners often focus too narrowly on measuring cost savings directly from sourcing initiatives and lose sight of how those initiatives impact core financial metrics—such as total cost...
3 Ways Machine Learning Helps Manage Spend
NOT JUST A BUZZWORD—HERE ARE 3 WAYS MACHINE LEARNING HELPS MANAGE SPEND Simfoni.com Tweet When running a successful business or organization, the bottom line is everything. That’s why classifying spend and keeping track of where the money goes after it leaves your organization’s...
3 Ways Proper Spend Management Can Ease Inflationary Pressures
All companies are navigating an uncertain market due to high inflation, which challenges the traditional ways companies typically seek out savings. While inflation usually eats into their bottom line, some companies see it as an opportunity to create a competitive...
5 Ways to Improve Your Supply Chain Management Strategy in 2023
Bottlenecks, demand swings, and unpredictable weather brought challenges for everyone during the 2022 holiday season. Here are some takeaways and a path to better supply chain management in 2023 Simfoni.com Tweet In 2022, holiday staples such as turkey, wine and...
5 Things Procurement Should Lose in 2023
Simfoni’s COO shares his thoughts on what needs to change in procurement in the new year As an essential part of conducting business, it is critical that procurement continues to evolve to meet the needs of today. However, as things...