Simfoni Expands Leadership Team with Proven Leaders
Simfoni Sets new highs in customer acquisition and revenue growth for its Spend Analysis and Automation Platform San Francisco, CA – June 2, 2021 – Simfoni, the next-generation digital solutions provider for procurement analytics and spend automation, today announced two...
Simfoni Wins Procurement Award From World-Renowned CIPS Awards
Simfoni took home the prestigious award for ‘Best Procurement Consultancy’ for a complex Spend Analytics Project during the CIPS Middle East Supply Management Awards 2021 which was hosted virtually on Tuesday 9th February and moderated by Sam Achampong, Head of...
What is Supplier Management? Why and How it is Implemented?
In Procurement, Supplier Management refers to the meticulous process of managing and improving interactions with third-party vendors that provide goods or services. This includes assessing the suppliers’ strengths and capabilities in the entire lifecycle of a supplier in an organization...
Simfoni Announces Achievement of SOC 2 Type I Certification, Boosting Its Commitment to Security
Simfoni, a global innovator in Spend Analytics and Spend Management, proudly announces today it has completed its Service Organization Control (SOC) 2 Type 1 examination. The audit was conducted by Assure Professional, a leading cybersecurity, assurance, and compliance solutions provider,...
Simfoni teams up with Gulftainer for companies overall Digital Procurement Transformation
Gulftainer announced on Thursday 15th April 2021 that it had selected Simfoni for the execution of a Digital Procurement Transformation of its business. The leading port operator has port operations and associated logistics activities across the UAE, KSA, Iraq, and...
Webinar – Raw Material Prices Exploding
On March 18th, the engine that powers Simfoni’s Negotiation Insights tool, What’s the Price, will be hosting a free webinar discussing how to defend against price increases from suppliers as economies continue to get back up to speed and materials...
What Is Vendor Risk Management? Why And How It Is Implemented?
Vendors are vital to achieving a company’s objectives because of the growing importance of contingent workers in big organizations. Depending on the size of a company, it may already be dealing with a few or perhaps hundreds of suppliers for tasks ranging from raw material and labor to fulfillment and even management. A single...
What Is a B2B Procurement Marketplace? and What are its Benefits?
B2B marketplaces simplify business-to-business procurement using a digital platform designed for buyers and suppliers. The platform allows buyers to source new products and suppliers that are pre-qualified to meet the marketplace’s requirements. The procurement marketplace for B2B procurement provides information...
What is Sustainable Procurement and Why it is Important for Businesses?
Environmental, Social, and Governance (ESG) responsibility has rapidly scaled the list of corporate priorities in recent years, and for good reason. Sustainable and socially conscious procurement practices are beneficial for the environment and society, but also directly benefit the business...
Product Cost Management Expert Eric Hiller Appointed Managing Director of What’s the Price USA
Simfoni Limited, a global innovator in Spend Analytics and Spend Automation, announces the appointment of Eric Hiller as Managing Director of its What’s the Price (WTP) USA division, following its partnership with Buynamics, the leading negotiation insight software vendor. As part of...
Simfoni and Supplier.io enter into strategic partnership for Vendor Diversity Analytics.
Simfoni, a next generation digital solutions provider for procurement analytics and spend automation, and supplier.io, a pioneer in the field of supplier diversity tracking, today announced a strategic partnership to bring Supplier Diversity Analysis in Simfoni to the US market....
What is Purchase Price Variance? Why and How is it Calculated?
In Procurement, Purchase Price Variance (PPV) is the difference between the standard price of a purchased material and its actual price. In Short, Purchase Price Variance = (Actual price – Standard price) x Quantity purchased. What is Purchase Price Variance...
Spend Forecasting is the most important tool for Procurement. Why?
Spend Forecasting is the most important tool for Procurement. Why? Simfoni’s Spend forecasting software combines the analysis of historical data with progressive prediction processes and business intelligence from several sources. Easily predict future profitability and create a forward-looking view on...
What is Category Management? How and Why is it Important?
Category Management is a strategic approach to procurement where businesses segment their spend into areas that contain similar or related products enabling focus opportunities for consolidation and efficiency. When we think of a company and its several departments, we must...
Simfoni and WTP Buynamics Enter Into Joint Venture to Bring Market-Leading Should Cost Modelling to USA
Simfoni, a next generation digital solutions provider for procurement analytics and spend automation, and WTP Buynamics, an innovator in the field of should cost modelling and vendor rating solutions, today announced a joint venture partnership to bring “What’s the Price”...