Spend Forecasting

Spend Forecasting

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 … Read More

Spend Data

How Serco Has Used Spend Data to Generate Business Value

Spend data is a gold mine of valuable information for improving the procurement process as well as driving enterprise-wide decision-making. FTSE 100 services provider Serco learned this first hand when it engaged Simfoni, a provider of spend analytics tools, to change the way it gathered, presented and analyzed its data. … Read More

Savings Management

Savings Management: Methods to save more

A group of activities that come under the forecasting savings in procurement are related to the savings management. There can be savings mapping to budget, strategic sourcing plans and the tracking of the savings realization (the savings that actually happen … Read More

Spend Analytics

Spend Analytics’ in action and its benefits.

Spend analytics are basically focused on the improvements that are required to be made in the operational sector. Analytics is mainly the systematic data or the information that is received from that data. The hidden working that causes the big results to happen, need insights and re-examination. It is just because of the spend analytics that are created skillfully, the company is able to check the things that do more harm than good. Whether it is the understanding of the data or controlling the costs to increase the level of profits, it is all known with the help of spend analytics. … Read More

Savings Management

Savings management in a firm. How a savings software helps in it?

Savings management in terms of finances is termed as the forecasting or estimation of the savings on the basis of plans carried out under every activity. Every firm keeps aside a definite amount of transaction or returns which are called savings. Saving management in a firm is the result of combined efforts from both the suppliers and customers. … Read More

Data Analytics

Event – Best Practice in Analytics Roadshow – Sponsored by Simfoni

The event will include in-depth case study and sharing of best practice. It is for senior management executives to better understand what their data means and how to use it in their decision making. … Read More

Procurement Technology

Evolving use of Technology and Analytics in Procurement and Supply Chain.

It was a great opportunity for us to bring together a collection of interesting speakers to impart their knowledge and experience of Procurement Technology in the Middle East. On an uncharacteristically rainy February evening in Dubai, we ran the second … Read More

Spend Analysis

Spend Analysis in 3 Easy Lessons

Spend analysis is an important sub-discipline of overall spend management and is primarily concerned with collecting, cleansing, classifying and analyzing procurement expenditure in order to find opportunities to improve purchasing efficiency and reduce an organization’s overall spend. … Read More

Spend Analytics

Top 3 Reasons Why Procurement Can Immediately Benefit From Reviewing Its Approach To Spend Analytics Right Now

We are increasingly living and doing business in a data-driven environment. This trend has affected the procurement sector as much as, or in some cases even more so, than any other business activity, and has brought with it tremendous opportunities for increased efficiency. … Read More

Spend Analytics

3 Ways Using Spend Analytics will Increase Your Procurement Efficiency

Most businesses, especially those with a business model that has a substantial purchasing element, can benefit from the implementation of a spend analytics system. Spend analysis is a process in which purchasing expenditure data is collected, organized, and analyzed in … Read More

Supplier Diversity Dashboard

Free Supplier Diversity Dashboard

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