Savings management in a firm. How a savings software helps in it?
Savings management in terms of finances is termed as the forecasting or estimation of the savings on the basis of plans carried out under every activity. Every firm keeps aside a definite amount of transaction or returns which are called...
Tail Spend Management for the financial progress
Tail spend management is necessary for any firm to improve its financial performance. It is the spend made that is not included in all the categories of spend, rather few that impacts its performance in respect of the finances. Suppliers...
Tail Spend Solutions’ hand in boosting savings
What are Tail Spend Solutions? :- Tail Spend Solutions is a blend of sourcing network, expertise and technology. It is a complete solution package for the problems related to the management section.
Tail Spend Software and its working
Tail Spend Software is useful software for the management of Tail Spend in Porcurement / Sourcing or Supply Chain (Tail Spend Solutions). It is a useful tool for the management of low value spend / purchases in a organization. Simfoni...
Why Mid-Size Companies Need On-Demand Solutions to Conquer Tail Spend
Procurement has firmly entered the tail spend era, and with necessary tools now available to tackle this persistent purchasing problem, supply organizations are finally consolidating costs, cracking down on unauthorized spend and clawing back lost time to deliver real value to...
Supply Chain Visibility starts here! – Savings Management
When we talk about Supply Chain visibility, you may be thinking about some complex data analysis tools, methods, visualization or even insights. No, in this article, we are talking about something even more fundamental, the classification of products or services...
Event – Best Practice in Analytics Roadshow – Sponsored by Simfoni
The event will include in-depth case study and sharing of best practice. It is for senior management executives to better understand what their data means and how to use it in their decision making.
Simfoni Tail Spend team delivers OS&E packages for the Louvre Abu Dhabi Museum
Simfoni Tail Spend managemnt team of professionals were given responsibility to source a wide range of Operational Supplies and Equipment (OS&E) and Furniture Fittings and Equipment (FF&E) for the new Louvre museum in Abu Dhabi, which opens its doors to...
What is the Difference Between Spot Buying and Tactical Buying Within Tail Spend Management?
Continuing on in this series about how organizations can better manage tail spend, we are now turning our attention to spot buying and tactical buying. Is there a difference between these two terms, or are they one and the same...
How Important is Catalog Procurement in the Management of Tail Spend?
So far in this series, we have discussed the importance of tail spend and the implications of managing it badly, and what well-managed tail spend looks like. This time around, we will consider whether procurement catalogs have an important role to play...
What Does Well-Managed Tail Spend Look Like?
In our previous post, we discussed why tail spend is important, as well as the negative impact poorly managed tail spend can have on an organisation. Obviously, a well-controlled procurement “tail” is important and will have a beneficial effect on...
Does Tail Spend Really Matter?
The generally accepted definition of “tail spend” is the bottom 20% of purchases made by an organization (by value, volume, or both). The Pareto rule is also usually applied to tail spend in regard to suppliers, i.e. tail spend purchases...
Evolving use of Technology and Analytics in Procurement and Supply Chain.
It was a great opportunity for us to bring together a collection of interesting speakers to impart their knowledge and experience of Procurement Technology in the Middle East. On an uncharacteristically rainy February evening in Dubai, we ran the second...
Spend Analysis in 3 Easy Lessons
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 Now
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...