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Simfoni: Vendor Analysis (Part 2) — Strengths/weaknesses for spend analysis & spend automation solutions and tech selection tips for both areas

01/24/2022 By

In this three-part Spend Matters PRO series, we are re-introducing you to Simfoni, a platform that wants you to "See Spend Differently" and holistically manage all of your spend using the appropriate processes to minimize overspend and savings leakage while maximizing opportunities highlighted by good spend analysis.

But what's really different about Simfoni is that it is not trying to sell you an end-to-end platform but rather the option for end-to-end capability by offering an end-to-end set of modular capabilities that can be turned on (and off) as needed to augment an organization's existing platform where capabilities are missing. If an organization has sourcing but limited AP/invoice automation capabilities, for example, then Simfoni would flip on invoice automation and track spending from sourcing decisions through purchase orders to invoices.

As long as you contract for the core analytics platform for a standard term, Simfoni will allow you to turn capabilities on and off every month as your organization sees fit — way more flexibility than most platforms or integrated suites typically offer.

Simfoni, which is on the Spend Matters “50 Procurement Providers to Watch” list, has contributed to this month’s M&A activity in the sourcing technology market, acquiring EC Sourcing, which is on our “50 Procurement Providers to Know” list.

In this series, Part 1 focuses on the two Simfoni solutions for spend analysis and spend automation, provides a company SWOT and details the market landscape of Simfoni competitors.

Part 2 gives the strengths and weaknesses of the solution offerings, and it has tech selection tips for the spend analytics solution and a separate list for the spend automation capabilities.

Part 3 takes a deep dive into the solutions’ modules, gives a “voice of the customer” section from our SolutionMap research and offers an analyst summary.

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Vendor Analysis