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Simfoni vs. SpendHQ: Spend Analysis Head-to-Head Technology Evaluation and Comparison

07/27/2018 By

Simfoni and SpendHQ have both common and different DNA, particularly in how they originally built and delivered their spend analysis software.

Simfoni initially designed its spend analysis tool to enable the success of other consultancies delivering procurement and spend analytics. Similarly, SpendHQ was born out of Insight Sourcing Group, a consultancy itself.

Although in a matter of years Simfoni has evolved dramatically, it has remained true to its roots, delivering a spend analysis tool that serves both consultants working with end users and procurement organizations directly. And while ISG at first used SpendHQ as both an internal tool and as a leave-behind for procurement organizations, today SpendHQ operates as a standalone company, with a growth rate that is outpacing the market, making it one of the two largest — if not the largest — standalone spend analysis software providers.

Simfoni and SpendHQ have rarely encountered each other in the market to date, given Simfoni’s global focus and SpendHQ’s North America-centric orientation. Still, since both beat the average functional benchmark score in the Spend Matters Q2 2018 Spend and Procurement Analytics SolutionMap, we thought a comparison was in order. Because a collision course is inevitable at some point.

Join us in this unfiltered SolutionMap results analysis from our Q2 2018 dataset, along with the commentary of the Spend Matters analyst team. These Head-to-Head columns share the insights of each quarterly SolutionMap report for SolutionMap Insider Subscribers<, providing comparative cuts of SolutionMap benchmark data along with the trademark quips that Spend Matters was better known for in its early years. So buckle your seat belt, prepare for some real data and expect a few sparks to fly as we pit Simfoni and SpendHQ against each other in the spend analysis software evaluation ring.

Not yet an Insider member? Here’s a preview: In certain spend analysis categories — which include data layer, process support, technology, configurability and services — Simfoni convincingly comes out on top. But in others, it’s darn close, and in at least one area, SpendHQ delivers an unquestionably superior score.

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