Simfoni collaborates with Snowflake to deliver spend management solutions powered by AI and trusted data.
Simfoni, the next-generation digital provider for spend intelligence and spend management solutions, announced a collaboration with Snowflake, the AI Data Cloud company. The collaboration sees Simfoni leveraging Snowflake’s data and AI capabilities to help clients gain visibility of their spend using composable AI-enabled solutions that enhance return on spend and protect the enterprise from harm caused by fluctuations in cost, risk and supply disruptions.
One of the biggest challenges with spend visibility is access to data from multiple systems. Through this collaboration, joint customers will be able to take advantage of Simfoni Native Apps available via the Snowflake platform to undertake automated data extraction, spend analytics, opportunity assessments, contract reviews and much more.
“The [Procurement] landscape is changing rapidly with the advent of solutions such as Simfoni, which automate spend management activity using the easy, trusted and connected Snowflake platform.” — Joe Frederick, VP Procurement at Snowflake.
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The combined capabilities of Simfoni and Snowflake offer an advanced spend management solution with:
- A human-centric user experience powered by AI to get the user what they need, optimizing value and time.
- A data-centric approach that leverages trusted data to inform analysis and decision-making.
- AI-powered opportunity analysis and insights, which takes on the heavy lifting of data analysis and market intelligence, providing the procurement pro with insights to react to opportunities and risks.
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“AI needs reliable data to inform analysis and decision-making, which is a central tenet of our collaboration”, said Stefan Dent, Chief Strategy Officer and Simfoni co-founder. “Simfoni is thrilled to work with Snowflake to bring to market solutions that leverage the Snowflake platform and its comprehensive data and AI capabilities to help joint customers leverage AI to directly launch sourcing events at the touch of a button.”
Joe Frederick, VP Procurement at Snowflake commented: “Traditional procurement solutions typically require large teams of skilled operators to operate the solution and analyze data, which is often stored in silos. However, the landscape is changing rapidly with the advent of solutions such as Simfoni, which automate spend management activity using the easy, trusted and connected Snowflake platform.”
