How to do Spend Analysis Guide by Simfoni will help you reduce expenses and provide savings delivery in the long term by helping you identify all the sources available for your spend data by category and department. The Guide also … Read More
Spend Management
What is Spend Management? Why and How it is Implemented?
What is Spend Management? 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 includes the use of best in … Read More
What is Spend Analytics? Why and how it is implemented?
What is Spend Analytics? Spend analytics is a process of gathering procurement data and organizing it so that it can be visualized and analyzed. Spend analysis deep dives into procurement and expense data to analyze and understand the spending patterns … Read More
The 4C approach that can improve your spend analysis
The organizations need to have a full view of its functions in order to transform to the better. Procurement requires the control and hold of the total spend done by the different departments. Since the organization has multiple ERPs for … Read More
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
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
What are the benefits of Spend Analytics for a company.
Spend Analytics is the analysis of the amount that the company spends for the management of the products and services. There are many companies that are spending a decent amount of money only to assure that they will provide their … Read More
What is the importance of Spend Analytics
Spend analytics can deliver big benefits to any corporate organization. Spend analytics can help in gaining the visibility to the spend data. It can help to dive deep and track the metrics of procurement performance to provide some actionable insights … Read More
ROI, Today: Making the Near-Term Business Case for Spend Analytics
Most varieties of procurement software deliver some form of return on investment. Whether it’s an e-procurement system that consolidates process costs or a sourcing tool that optimizes supplier selection, successful vendors can always point to clear ways their solutions deliver … Read More
What is Procurement Analytics? Why and how it is implemented?
What is Procurement Analytics? Procurement analytics is the process of using quantitative methods to derive actionable insights and outcomes from data. It involves the capture and use of data to support fact based decision making and gaining competitive advantage. It … Read More