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

Spend Forecasting is the most important tool for Procurement. Why? Simfoni’s Spend forecasting software combines the analysis of historical data with progressive prediction processes and business intelligence from several sources. Easily predict future profitability and create a forward-looking view on...

November 4, 2020

Spend Analysis Spend Analytics

What is Spend Analytics Dashboard

Spend Analytics Dashboard is an interactive dashboard that provides knowledge into an organization’s procurement activities and expenditures. It allows the organization to identify areas for cost reduction and process improvement. Additionally Spend Analytics Dashboard helps in the process of analyzing...

October 13, 2019

Spend Management

What is Spend Management? Why and How it is Implemented?

What is Spend Management? Why and How it is Implemented? Spend management means managing organization expenditure through processes starting Demand Identification and Spend Analysis to Sourcing and Order Management, for both direct and indirect spend categories. A robust Spend Management...

February 7, 2019

Spend Analytics

What is Spend Analytics? Why and how it is implemented?

What is Spend Analytics? Spend Analytics is the discipline of collecting, processing, and analyzing procurement data. Spend analysis uncovers business buying patterns through an in-depth review of procurement data. Organizations use these to manage their suppliers, to track procurement performance,...

February 7, 2019

Spend Analysis Spend Analytics

The 4C Approach That Can Improve Your Spend Analysis

Spend analysis is the procurement strategy process of reviewing current and historical expenses. The aim of this strategy is to reduce costs, improve strategic procurement, and increase the efficiency of spending management. Spend analysis requires spending data processed into KPIs and...

December 2, 2018

Spend Analysis

How spend analysis services can improve procurement

The company’s procurement strategy must contain spend analysis. A robust and strong spend analysis is vital for successful procurement in the organization. A matter of concern here is whether the company gains maximum benefits as a result of its current...

December 2, 2018

Spend Analysis Spend Analytics Spend Forecasting

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...

December 2, 2018

Spend Analysis Spend Analytics

What are the benefits of Spend Analytics for a company.

Spend Analytics is the study of the amount of money a company spends on products and services. Many companies spend a decent amount of money to ensure they provide their customers with the best possible product or service. However, the...

October 28, 2018

Spend Analytics

What is the importance of Spend Analysis

Spend analytics can deliver big benefits to any corporate organization. Spend analytics can help in gaining visibility to the spend data. It can help to dive deep and track the metrics of procurement performance to provide some actionable insights that...

September 29, 2018

Spend Analytics

Why is Spend Analytics important?

Spend Analytics California State University has created a program on Spend Analytics and implemented it, presenting a clear sight to campuses and Chancellor’s Office to bring more savings. The California State University (CSU) previously identified billions of spend in 2011...

July 22, 2018