Receives Industry Recognition for Adding Value and Bringing Innovation to the Procurement Analytics Market
Simfoni, the next generation digital solutions provider for procurement intelligence and spend automation, today announced the release of its new Spend Intelligence platform and being named a leader by Spend Matters for Spend Analytics in the Spend Matters Fall 2021 Solutions Map. Click here to see Simfoni’s Spend Matters Insider Scoring.
Powered by Artificial Intelligence (AI), Simfoni Spend Intelligence Platform includes Spend Automation which distills and organizes complex financial data providing granular visibility into enterprise spending, along with the predicitive Opportunity Assessments and robust Saving Pipeline Management and Savings Tracking so that Chief Procurement Officers and procurement teams can make smarter decisions and focus resources on being more strategic.
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“Providing actionable data is only part of Simfoni’s Spend Intelligence solution–our customers are focused on outcomes and measuring results,” said Jason Stern, CEO, Simfoni Spend Intelligence. “Simfoni Spend Intelligence provides a complete savings lifecycle that enables our customers to identify, manage and track their savings.”
Simfoni Spend Intelligence is designed for procurement leaders who want to be proactive, rather than reactive. It includes Simfoni’s award-winning Spend Analytics solution, as well as modules for Opportunity Assessment, Savings Pipeline Management, Savings Tracking, “Should Cost”, Spend Forecasting, Impactment Assessment and Supplier Diversity. By delivering real-time visibility across all spend categories and visualizing the entire savings lifecycle, Spend Intelligence identifies hidden savings opportunities and provides data management and insights into pricing, vendors, categories, diversity, and total spend.
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“Spend analytics is expanding to broader ‘supply’ analytics in more advanced procurement organizations,” said Jason Busch, Founder, Spend Matters. “Technology that supports spend analytics efforts includes spend classification, broader data layer support, reporting, report building, scorecarding and benchmarking and out-of-the-box functional reporting — and more. Spend analytics represents one of the early procurement technology implementations for artificial intelligence as well in select cases.”
Simfoni was recognized as a Leader in the Spend Matters Fall 2021 Solutions Map for Spend Analytics vendors. Based on a combination of analyst reviews and customer references, Simfoni ranked the highest of all vendors across 22 categories including Customer Surveys, Functionality, Services and Technology.