Simfoni, a leading global provider of spend management solutions, has once again been named a Sample Vendor in the Gartner® Hype Cycle for Procurement and Sourcing Solutions, 2023
In this year’s report, Simfoni has been listed as a Sample Vendor in four essential categories: Tail Spend Solutions, Predictive Analytics, Supplier Diversity Solutions, and Operations and Savings Management.
Chirag Shah, the Executive Chairman at Simfoni, expressed his excitement about the acknowledgment, stating that their unique consumption-based pricing model is attracting a new set of customers who were previously deterred by upfront license fees and implementation costs. Additionally, market challenges such as recessionary fears and supply chain complexities have brought procurement technologies to the forefront in boardrooms worldwide.
One of the recent milestones for Simfoni is their collaboration with global consultancy management firm Kearney. Together, they are set to deliver what is expected to be the world’s most accessible and effective tail spend management program. Tail spend has been a significant pain point for many clients, and Simfoni aims to address this issue by combining Kearney’s procurement expertise with their own digital tail spend solution
Simfoni’s dedication to supporting an inclusive procurement ecosystem has also been acknowledged, as they were added as a Sample Vendor in the Supplier Diversity category. This recognition highlights their commitment to helping organizations establish and grow supplier diversity programs, making more conscious business decisions, and supporting growth and enablement across the source-to-pay process.
Learn more about how Simfoni’s innovative technologies are shaping the future of procurement and sourcing.
Read the full press release here.
