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...
What is Spend Analytics Dashboard
Spend Analytics Dashboard is an interactive dashboard that provides knowledge into an organization’s procurement activities and expenditures. It allows the organization to identify areas for cost reduction and process improvement. Additionally Spend Analytics Dashboard helps in the process of analyzing...
How does the Simfoni Procurement Dashboard work
How do procurement dashboards help companies in any industry track KPIs, perform spend analysis, identify savings opportunities and implement cost reduction strategies to improve their business? Improve Compliance Rate The compliance rate is how completely companies fulfill their contractual agreements...
Big Savings in Small Spend — Tales from the Tail
In the world of strategic sourcing, realizing 5 to 8% savings is considered to be impressive. After all, these are the high-spend categories and are supposedly already well-managed and frequently revisited for improvement opportunities. In contrast, when our clients work...
Mid-Market Procurement — The Pitfalls of Current Approaches
Mid-market companies are at a significant disadvantage when compared to larger corporations — a key finding from Simfoni’s analysis of its customers’ procurement and savings delivery capabilities in mid-market companies. It’s OK to obsess about top-line growth, but what lies beneath...
How To Do Spend Analysis? – The Ultimate Guide
How to do Spend Analysis Guide by Simfoni will help you reduce expenses and provide savings delivery in the long term by helping you identify all the sources available for your spend data by category and department. The Guide also...
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...