Spend Analysis in 3 Easy LessonsFebruary 1, 2017
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 NowSeptember 20, 2016
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 for increased efficiency.
Enterprise Mobile Apps Will Play an Important Role in Business Development Over the Next Few YearsJuly 7, 2016
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 MattersMay 31, 2016
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...
Unmanaged Tail Spend: Problems and Solutions : Tail Spend SolutionMay 20, 2016
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 EfficiencyMay 5, 2016
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 ProfessionalsMay 3, 2016
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...
Why it is Important to Properly Manage Tail Spend – (Part 3)March 28, 2016
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 ManagementMarch 14, 2016
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?March 3, 2016
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 MattersMarch 2, 2016
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 in the enterprise mobile application industry while allowing its clients to benefit from the industry expertise Spend Matters has to offer.
We’ve been at this for a long time. And we recognize procurement is more than just finding an item at the cheapest price. We all need to see spend differently. Responsible sourcing and sustainable procurement are not a sidebar, they are at the core of the job. And to do this job well it takes technology + humans. Simfoni is here to bring opportunity, balance, impact and control to your procurement team and process. We are here to help you see spend differently.