Unmanaged Tail Spend: Problems and Solutions : Tail Spend Solution
May 20, 2016Tail 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
May 5, 2016Most 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
May 3, 2016In 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.
April 22, 2016We 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)
March 28, 2016Just 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
March 14, 2016In 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, 2016Tail 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...
![Why it is Important to Properly Manage Tail Spend. [Part 1]](https://simfoni.com/wp-content/uploads/2016/02/iStock_000061419362_Small.jpg)
Why it is Important to Properly Manage Tail Spend. [Part 1]
February 29, 2016Why 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
January 7, 2016Simfoni, 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
October 12, 2015Tail 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
September 1, 2015The 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
August 1, 2015If 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...
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.
