Simfoni recognized as a leading vendor for the 4th year in succession.
The Spend Matters 2019 Almanac has been released today and Simfoni is delighted to announce that – for the 4th year in succession – it has been recognized in the “Top 50 to Watch” category amongst leading technology vendors in...
Simfoni is recognized for the second time at World Procurement Awards in “Best New Procurement Technology” category.
Procurement Leaders have announced the finalists for the World Procurement Awards 2019 and Simfoni has been listed for the second time as the best new procurement technology in the "Procurement Technology" Category.
What is Spend Management? Why and How it is Implemented?
What is Spend Management? Why and How it is Implemented? Spend management means managing organization expenditure through processes starting Demand Identification and Spend Analysis to Sourcing and Order Management, for both direct and indirect spend categories. A robust Spend Management...
What is Spend Analytics? Why and how it is implemented?
What is Spend Analytics? Spend Analytics is the discipline of collecting, processing, and analyzing procurement data. Spend analysis uncovers business buying patterns through an in-depth review of procurement data. Organizations use these to manage their suppliers, to track procurement performance,...
What is Predictive Analytics in Procurement? Why and how it is implemented?
What is Predictive Analytics in Procurement? Predictive Analytics in Procurement refers to the use of available spend, catalog, supplier, and materials data in order to perform analysis that determines patterns and predicts future outcomes and trends. Predictive analysis is comparatively...
What Exactly Is in the Tail Spend?
At a headline level, I think most procurement folks are now familiar with the concept of tail spend: the low-value spend items that are non-core but still essential to the smooth operation of an organization.
The 4C Approach That Can Improve Your Spend Analysis
Spend analysis is the procurement strategy process of reviewing current and historical expenses. The aim of this strategy is to reduce costs, improve strategic procurement, and increase the efficiency of spending management. Spend analysis requires spending data processed into KPIs and...
How spend analysis services can improve procurement
The company’s procurement strategy must contain spend analysis. A robust and strong spend analysis is vital for successful procurement in the organization. A matter of concern here is whether the company gains maximum benefits as a result of its current...
Challenges organizations have to face while implementing Spend Analytics
Spend analytics should be a crucial part of any procurement strategy but implementing spend analytics in the strategy is not easy. It calls for a great deal of effort to make spend analytics a part of the organization. The economic...
Analytics Webinar
In this webinar, you will learn how Serco uses analytics around contracts, bid support, benchmarking, ethics and more to support business decisions — and the resulting business benefits.
How Serco Has Used Spend Data to Generate Business Value
Spend data is a gold mine of valuable information for improving the procurement process as well as driving enterprise-wide decision-making. FTSE 100 services provider Serco learned this first hand when it engaged Simfoni, a provider of spend analytics tools, to change...
What are the benefits of Spend Analytics for a company.
Spend Analytics is the study of the amount of money a company spends on products and services. Many companies spend a decent amount of money to ensure they provide their customers with the best possible product or service. However, the...
What is the importance of Spend Analysis
Spend analytics can deliver big benefits to any corporate organization. Spend analytics can help in gaining visibility to the spend data. It can help to dive deep and track the metrics of procurement performance to provide some actionable insights that...
How does Tail Spend Analytics work
Tail spend analytics is a concept that is recognized in the procurement departments yet seldom addressed, is at long last getting its chance in the spotlight. Tail spend is professional purchases, services that are outside the large purchases in the...
ROI, Today: Making the Near-Term Business Case for Spend Analytics
Most varieties of procurement software deliver some form of return on investment. Whether it’s an e-procurement system that consolidates process costs or a sourcing tool that optimizes supplier selection, successful vendors can always point to clear ways their solutions deliver...