Simfoni Vendor Analysis (Part 1) Spend Analysis/Spend Automation Solution


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This three-part Spend Matters PRO vendor analysis series examines how Simfoni has built on its spend analytics roots while adding spend automation tools to create an orchestra of capabilities.

A simple trumpet can sound the alarm or make you think. The sound of a flute can lure rats to water or turn sorrow into joy. And a violin can make you fall in love or curse your soul.

Alone, each instrument is powerful and effective, but when combined, the power of an orchestra goes beyond mere one-off effects and creates symphonies that influence cultures far and wide, and sometimes cause revolutions that change even the course of civilization.

So what does any of this have to do, to your knowledge, with the vendor of a traditional spend analytics solution?

Vision.

Simfoni’s founders had a vision to bring to market an analytics-driven sourcing platform that would orchestrate a company’s end-to-end sourcing process seamlessly and seamlessly and inspire you to greatness. , just like a symphony.

But the analysis alone is only the call to action. Just as woodwinds alone do not make a symphony, a set of related modules alone does not make a supply suite. Simfoni realized that since its inception in 2015, and since the launch of its analytics product, it had been working on other solutions to meet the range of requirements for an enterprise procurement platform.

And they did this knowing that for a symphony to be harmonious with the company they wish to serve, their synthesizers must play in sync with the organization’s rhythm section. To understand how Simfoni is progressing towards this goal, read this PRO series to find out how the analytics provider went from its mobile-oriented beginnings (as we documented in 2017) to a new about analysis and exactly what that means.

Simfoni, which is on Spend Matters’ “50 Procurement Vendors to Watch” list, contributed to this month’s M&A activity in the procurement technology market, acquiring EC Sourcing, which is on our list of “50 procurement providers to know”.

In this series, Part 1 focuses on the two Simfoni solutions for Spend Analytics and Automation, provides a company SWOT analysis, and details the market landscape of Simfoni’s competitors.

Part 2 gives the strengths and weaknesses of the solution offerings, and contains technology selection guidance for the spend analytics solution and a separate list for spend automation capabilities.

Part 3 takes an in-depth look at the modules of the solutions, gives a “voice of the customer” section of our SolutionMap research, and offers an analyst summary.

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