About Simfoni
Composable spend management technology solutions to help you see, source, and manage spend differently.
Simfoni provides Spend Analytics, eSourcing, and Tail Spend Management solutions to leading global enterprises. The Simfoni platform utilizes machine learning and artificial intelligence to accelerate and automate key aspects of the procurement process, saving customers time and money and paving the way toward supply chain sustainability.
With offices in the USA, Europe, Australia, and the Middle East, Simfoni works with its customers and the wider vendor community to improve vendor diversity and achieve strategic corporate social responsibility objectives.
Composable Solutions
At Simfoni we believe in Composable Procurement. That’s a new approach to solution design where you select best-of-breed software modules – from the same vendor – so they already work together seamlessly (and with your existing systems) rather than connecting them with endless APIs or buying a monolithic, all-in-one monster.
Below are selected examples of composable designs that address common solution challenges.
Digital Procurement Transformation -
Move processes from paper and people to AI and automation.
Spend Analytics
Gain level 4+ visibility on your spending patterns with automated categorization. Measure procurement performance and illuminate insights with automatically calculated KPIs and metrics. |
Order Management
Flip Requisitions to start an RFQ process that automates the manual work of emailing vendors, collecting responses, and ranking proposals. |
Safe Harbor Sourcing
Users can run their own RFx within the company guidelines using already approved vendors. This captures formerly maverick spend, keeps buying compliant, and reduces the workload of the procurement team. |
Contracts Management
Gain insights on your procurement efficiency from your existing contracts. Investigate common terms, what is under, and not under, contract, and possible risk of non-compliance. |
Tail Spend Control -
Small deals add up – 80% of suppliers account for only 20% of spend.
Spend Analytics
Automated, deep categorization happens for products, services, and vendors providing lots of ways to slice and dice your data. Compare spend under contract to Spot Buys. See opportunities to consolidate vendors. |
Opportunity Assessment
Identify savings activities options. Prioritize based on estimated savings and ease of completion. |
Order Management
Use the most cost effective and efficient process to make purchases. Users are guided to Marketplace and Catalog purchases unless an RFx process is absolutely necessary. |
Marketplace
Online marketplace purchases drive savings, concentrate volume across select vendors, and capture spend that was previously lightly (or not) tracked. |
Savings Realisation -
Insights on your spending trends, savings opportunities and resulting cost realities.
Spend Analytics
Analyze trends and opportunities by pulling insights from rich data pools created by automated deep categorization. |
Opportunity Assessment
Identify savings activities options. Prioritize based on estimated savings and ease of completion. |
Savings Reporting
See and share actual savings results as you finish each initiative. Project the future savings from work done today. |
Order Management
Capture and track your spend more easily when everyone uses the right procurement tools. |
Product
Fit-to-purpose technology solutions to help you see, source, and manage procurement spend differently.
Spend Intelligence
Simfoni Spend Analytics delivers intuitive and easy-to-use dashboards that help the user to visualize ALL spend in one location. Simfoni quickly aggregates and classifies data from all locations and data sources, and can even integrate 3rd party data to provide you with the richest, and most meaningful insights possible.
With powerful machine learning and advanced AI capabilities, Simfoni Spend Analytics transforms and supercharges the classification process – classifying thousands of records per minute – to provide you with more accurate visibility, faster than ever before.
eSourcing
A user-friendly eSourcing and Optimization solution that offers advanced automation and unique insights to help users identify the best supplier award decisions in less time.
Increase Supplier Transparency
Collect the information you need to be more intentional about the suppliers you choose |
Automate Workflows & Processes
Automation helps reduce the time it takes to run a sourcing event and award a contract |
Faster Award Decisions
Make award selections based on dynamic factors in hours, not weeks |
Reach More Suppliers, Faster
Access more suppliers to acheive more competitive price points |
Spend Automation
Simfoni Spend Automation helps you bring more spend under management - regardless of your operating model.
Strategic Spend Terminal
Simfoni’s Strategic Spend Terminal bridges the gap between spend visibility and sourcing project planning and execution.
With an intuitive interface, users can easily identify, track, and execute strategic savings initiatives, putting a spotlight on procurement's strategic value and impact to the business.
Comprehensive Spend Management
Capture total value creation by addressing ALL of your business spend |
Accelerate Speed to Value
Automate data extraction & classification with AI and Machine Learning capabilities |
Automatically Monitor for Opportunities
Sourcing pipeline that builds itself, targeting value-rich opportunities for your team to pursue |
Streamline Your End-to-end Process
Digitally alleviate friction and delays. Empower your team with the tools necessary to streamline procurement |
Customer References
“We engaged with Simfoni to automate our tail spend. They have brought a level of transparency that we needed to make better informed decisions. Benefits were achieved almost immediately, and the planning, targets and execution are managed on time and to the commitments made with numbers exceeding expectations.” | “Simfoni's Spend Analytics platform has helped our procurement team to stretch beyond cost savings and become more strategically aligned with our organization's core strategy and values. Utilizing data has helped us to know our suppliers better, and o evaluate them on the basis of diversity, sustainability and risk. This practice has helped us to elevate and solidify our commitment to tracking CSR goals and ESG metrics.” | “What I really like about Simfoni is the dashboards they can create, the flexibility, the way the system can be tailored to your requirements. We found that useful. But what I really thought was the key thing is that they also have the procurement expertise to sit down with you and look at the opportunity part.” |
David Stockton, CEO, Dulsco Environmental Solutions |
Keith Woody, Chief Procurement Officer, Fulton Bank |
Cory Thwaites, Executive Director of Procurement, Dubai Holdings Asset Management |
Selected Customers
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