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”...
Simfoni Named a 2020 Spend Matters Provider to Watch
Spend Matters once again named Simfoni Analytics in its prestigious, 7th annual “50 Providers to Know/50 Providers to Watch,” list for an impressive fifth consecutive year. Spend Matters compiles the top 50 list from its Almanac containing 450+ vendor descriptions...
Simfoni recognized as a leading vendor for the 5th year in succession
Spend Matters verified Simfoni Analytics as a Solution Map Leading Vendor for a remarkable third consecutive year. The Spend Matters Solution Map validation designates Simfoni Analytics as a trusted, leading vendor in procurement software applications and technologies for procurement professionals....
6 Strategies to Transition from a Peacetime CPO to Wartime CPO
Procurement strategies can help CPO’s make the right decisions to improve cost savings, decrease supplier risks, enhance innovation and flexibility, and heighten the influence of the procurement office throughout the company. These are times of War. Along the health front,...
Simfoni launches Spend Analytics Business Unit, Appoints Jason Stern as CEO of the Analytics and Expands US Operations to Silicon Valley
San Francisco, CA – April 28th, 2020. Simfoni Limited, a global innovator in Spend Analytics and Spend Automation, announced the appointment of Jason Stern to Chief Executive Officer Simfoni Analytics, and the opening (soon) of an additional office and moving...
Simfoni offers free mapping of your COVID-19 supply risks: Read its methodology for addressing coronavirus problems
In recent days Simfoni has developed a Covid-19 risk assessment dashboard to help its customers assess potential business impact arising from supply chain disruption. Given the acuteness of this situation we have decided to provide this dashboard on a complimentary...
Simfoni raises $3m to accelerate US expansion of its Spend Analytics and Spend Automation Platform
Simfoni, a next generation digital solutions provider for spend analytics and buying automation, today announced that it has raised $3m in Series A financing. The investment was led by BOOST&Co, a global leader in Venture Debt with support from private...