Spend Forecasting

Spend Analytics

Challenges organizations have to face while implementing Spend Analytics

Spend analytics should be a crucial part of any procurement strategy but implementing spend analytics in the strategy is not easy. It calls for a great deal of effort to make spend analytics a part of the organization. The economic … Read More

Spend Forecasting

Spend Forecasting is the most important tool for Procurement. Why?

Spending can have a forecast which prepares a data on how and when the spending will be done and why people would do that. It is a wise step for the procurement decision maker. Spend Forecasting is the most important … Read More

Low Value Spend Management

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 or Low Value Spend Management represent the bottom 20% or purchases, but very often 80% or so of suppliers are connected to this activity. … Read More

Supplier Diversity Dashboard

Free Supplier Diversity Dashboard

Learn how Simfoni Spend Analytics can help your company support minority-owned businesses.