AI-Powered Spend Analytics
Simfoni’s AI-powered spend analysis software rapidly delivers detailed, accurately classified, spend data from multiple sources. The out-of-the-box dashboards provide actionable insights to easily identify costs savings, supplier risk and supply chain optimization. We automatically generate detailed Opportunity Assessments and Wave Plans. Ready to take advantage of actionable insights and realize savings?
See the Savings
Achieve 100% Spend Visibility Using for More Procurement Savings
Realize the full value of Spend Analysis, with clean, accurate, rich data.
Simfoni uses the power of AI Machine Learning and Natural Language Processing to automate loading and data refresh processes. Our AI automatically validates, cleans, and classifies data from many sources, including Invoice line items, Purchase Order details, P-Card and Travel. Simfoni Analytics enables you to analyze 100% of spend–direct and indirect-from all your systems.
See your spending in a whole new way.
Granular data leads to drill-down charts that illuminate spend in ways you didn’t think possible. Out-of-the-box, configurable, dashboards quickly provide insights into all areas of procurement allowing you to manage spend and supplier risk across all parts of the organization.
AUTOMATED OPPORTUNITY ASSESSMENT
Get a detailed wave plan quickly, saving weeks and months.
Simfoni’s Opportunity Assessment is based on our years of procurement experience and 100’s of customers. We compare your detailed spend data with our proprietary benchmark pricing data and proven industry data instantly identifying savings opportunities. We generate a detailed list of sourcing events and a wave plan for your procurement team to execute and achieve tangible savings.
Extract the most out of data to
Accurate, granular data – consistently.
✔ Standardized Commodity and Industry Specific Taxonomies
Our standard taxonomies cover direct and indirect spend, as well as many industry specific categorizations. We live procurement and our deep categorization reflects our industry experience.
✔ Categorization Self-Modification
5%-10% of spend is unique to a company. We let you, the local expert, modify misclassified items directly (with approvals) to increase the accuracy of the data set.
✔ Automated Data Refresh Process
With the power of AI, Simfoni can refresh the categorization of large quantities of data. Because the automated refresh cycle times are hours or days, not weeks and months, you can refresh data as frequently as you wish—quarterly, monthly, weekly, even daily.
✔ Capture 100% of Your Spend
We can take in data from almost any system, validate it, and clean it using machine learning. Feed data into the analytics system however you are comfortable—uploads, APIs, connectors—it’s all good to us.
✔ Third Party Data Enrichment
Combine your spend data with third party metrics, e.g. price of oil, stock prices, temperature, to illuminate trends.
Visual spend explanations – beautifully.
✔ Dashboards, Ready Out-of-the-Box
Based on our years of servicing procurement clients, we have an array of out-of-the box dashboards and widgets to satisfy almost every data visualization need. You can learn about your spending
✔ Dashboards, Configured, Not Customized
Getting a dashboard exactly right happens quickly. By moving and swapping elements from our large collection of widgets to customize your reports you get your special view of the data without waiting for customized programming.
✔ Look Familiar? That’s because we’re powered by MS Power BI.
We are procurement specialists, so we left the coding of graphs and charts to the professionals – Microsoft and their Power BI platform. If you are using a different business analytics tool and want your spend data to appear there, give us a call.
✔ Benchmarks Align Expectations
Understand your performance compared to industry peers using Simfoni data or independent sourcing benchmarks from the Hackett Group.
Prioritized savings plans – instantly.
✔ Automated Opportunity Assessment
Don’t waste valuable resources and time to identify saving opportunities. Our automated opportunity assessment let’s you use that time to realize the saving.
✔ Detailed Quantifiable Sourcing Events
Using our proprietary pricing data and industry average processing times, Simfoni identifies a list of low hanging fruit to reduce costs. With quantified events, you are empowered to make the adjustments needed for your business.
✔ Wave Plans
Organize and prioritize the savings in a quarterly plan based on resource availability, ease of achievement, and priority. Give your team a clear plan to stay focused on execution.
✔ Sourcing Strategies and Goals
Each opportunity is matched with a proven sourcing strategy and detailed goals providing clear expectations and alignment for both executive management and category managers.