Simfoni is pleased to announce it has once again been named a Value Leader on the 2022 Spend Matters Solution Map for Spend Analytics and Sourcing. This honor builds upon a series of strategic engineering and technology investments to accelerate machine learning (ML) and artificial intelligence (AI) capabilities across its suite of composable spend management solutions, including eSourcing, Spend Analytics, and solutions for Tail Spend management.
Known as the most rigorous and data-centric assessment of procurement technologies, the Spend Matters SolutionMap contains 500+ RFI requirements across 10 source-to-pay modules and suite technology categories to pinpoint and rank the capabilities of participating vendors. Customer feedback also factors into where vendors rank on the maps. Simfoni’s ongoing support model and dedication to exemplary customer service also continues to distinguish the company as an industry leader.
“We are delighted to see Simfoni retain its position as a value leader on the 2022 SolutionMap. It’s evident that we are making the right investments in areas that have the most impact. These investments have allowed us to stay ahead of market trends while remaining innovative and responsive to customer needs,” said Ron Emma, Simfoni CEO, eSourcing.
Machine learning is gaining a prominent role in Simfoni’s procurement solutions, allowing for customer access to fully categorized spend data — at any level of granularity — faster, with more accuracy and less human intervention than ever before. With detailed, authentic, and up to date spend data, Simfoni customers can make better data-driven decisions in support of strategic objectives.
Simfoni’s commitment to the advancement of composable procurement solutions has modernized the way companies see and manage direct and indirect spend. Fusing revolutionary technology with AI-enabled content and proven deep domain expertise, Simfoni helps organizations identify opportunities to lower costs, improve efficiencies, and achieve supply chain sustainability, vendor diversity, and strategic CSR (Corporate Social Responsibility) objectives on a global scale.
The company also recently expanded its engineering team, bringing on established procurement technologist Alan Buxton as Chief Technology Officer. “As we continue to expand Simfoni’s footprint with proven industry veterans, Alan Buxton is the perfect addition to our executive management team,” said Chirag Shah, Chairman, Simfoni. “He brings years of experience as a procurement technology native operating within the landscape of spend intelligence, he already understands what our customers are looking for. His deep expertise in machine learning and natural language processing (NLP), in combination with his proven record of accomplishment scaling SaaS (Software as a Service) startups will boost our engineering operation, making it a world-class entity.”
“Simfoni has assembled an outstanding team of industry leaders who know the procurement space from the inside out,” said Buxton. “As a globally distributed organization, Simfoni’s engineering team has the advantage of a continuous, 24/7 workflow. The team is focused and nimble enough to keep up with market demand and capabilities that rival those of much larger competitors in this space. I am so eager to join this company in its quest to turn procurement data into actionable insight and concrete recommendations that help procurement teams make better business decisions.”
Simfoni provides Spend Analytics, Spend Automation and eSourcing solutions to leading global enterprises. The Simfoni platform utilizes machine learning and artificial intelligence to accelerate and automate key aspects of the procurement and sourcing processes, saving customers time and money and paving the way toward supply chain sustainability. With offices in the USA, Europe, Australia, and the Middle East, Simfoni works with its customers and the wider vendor community to improve vendor diversity and achieve strategic CSR objectives.