San Francisco, CA, Oct. 19, 2023 (GLOBE NEWSWIRE) -- Simfoni, a global front-runner in procurement intelligence and tail spend management, has once again clinched a spot on Spend Matters' prestigious '50 Providers to Know' list for 2023. This marks the second consecutive year Simfoni has received this acknowledgment.
Simfoni’s recognition not only mirrors its unparalleled capability in tail spend management but also its expanding global influence in the procurement sector. By offering AI-powered Spend Analytics and cutting-edge eSourcing with optimization, Simfoni caters to a diverse range of procurement needs, from comprehensive spend management to individual tools that enhance existing technologies.
According to Spend Matters, “Simfoni is one of the few true turnkey analytics/intelligence providers that can provide both a solid platform and a solid service offering. The services can include expert guidance, GPO and tail-spend management, and buy-desk category support for analysts looking to turn the insights into opportunities...by combining composable spend analytics and eSourcing support that includes advanced optimization, they provide procurement teams what they need to start or optimize their source-to-contract journey.”
Simfoni continues to strengthen its position internationally as the recognized market leader for tail spend management. Global management consulting firm Kearney's recent strategic investment in Simfoni underscores the tech provider’s commitment to expanding global reach and capabilities and will further bolster Simfoni’s ability to innovate and deliver value to its clients across the globe. Simfoni’s deep domain expertise, global footprint, and composable approach to spend management technology have collectively provided the company with a competitive edge as procurement teams increasingly look outside traditional solutions to achieve superior spend visibility and management on a global scale. Simfoni’s suite of solutions, which includes AI-enabled Spend Analytics, and advanced eSourcing capabilities, can be accessed as a holistic ‘all-in-one spend management toolkit’ or layered with existing technology to drive maximum impact and ROI.
Spend Matters’ recognition of Simfoni on the ‘50 Providers to Know’ list acknowledges the company’s rapid growth and continued recognition as an industry-leading solutions provider. Simfoni has previously ranked on their ‘50 Providers to Watch’ list each year since the company’s inception and advanced to the ‘50 Providers to Know’ list in 2022.
According to Spend Matters, the ‘50 Providers to Know’ list comprises industry-leading, best-in-class, and proven solution providers. Vendors listed are independently selected by the analyst team over multiple rounds of debate, focusing on factors such as innovation, market presence, tech competency, and solution delivery. The '50 Providers to Know’ is a valuable resource for those making tech selections or who want to understand the industry’s main players. Both lists are published in conjunction with the SIG (Sourcing Industry Group) Global Executive Summit.
"As we enter 2024, I am honored to once again receive this recognition from Spend Matters," said Chirag Shah, Simfoni Founder and Executive Chairman. "The year marked a truly transformative period for Simfoni. We solidified our position as a market leader in tail spend management, completed strategic acquisitions that enhance our suite of offerings, and rolled out our unique Strategic Spend Terminal – the only solution on the market that offers a seamless user experience from Spend Analytics through Sourcing Pipeline to eSourcing and Optimization. The market has rewarded us with a strong year of growth, and we also received numerous industry awards and acknowledgments, underscoring the excellence of our team, products, solutions, and company culture. Achieving a place among the '50 to Know' is a testament to the incredible dedication of our staff and an exciting addition to our ever-growing list of accolades."
Simfoni has been continuously lauded in the Spend Matters’ Solution Map as a Value Leader for Spend Analytics and Sourcing and was once again included in the 2023 Gartner® Hype Cycle™ as a sample vendor in the categories of Tail Spend Management, Predictive Analytics, and Procurement Savings Management.
Simfoni’s Jen Andretta Recognized at SIG Global Executive Summit with a ‘Rising Star’ Award Nomination
Coinciding with the release of the Spend Matters ‘50 to Know’ list, Simfoni’s Director of eSourcing & Solutions, Jen Andretta, was a nominee at the SIG (Sourcing Industry Group) 2023 Future of Sourcing Awards in the category of Rising Star.
The Future of Sourcing Awards celebrates organizations and individuals that are transforming, leading, and innovating in categories critical to the sourcing, procurement, and supply chain industry. Jen’s dedication to her craft and her passion for pushing the boundaries of what procurement can achieve brings immense value to Simfoni’s clients and the industry as a whole.
“We are privileged to have such exceptional talent within our team and are confident that Jen’s contributions will continue to have a long lasting and profound impact on our clients, and the procurement industry. I know I speak on behalf of the wider Simfoni team when I say we are so pleased to see Jen receive such well-deserved recognition, said Ron Emma, CEO.
Finalists were selected by a panel of judges composed of some of the most influential and transformative individuals in the sourcing industry, and winners were announced at SIG’s Global Executive Summit in Scottsdale, Arizona on October 18.
The full list of finalists is available at https://futureofsourcingawards.com/2023-awards-finalists.
About Simfoni
Simfoni provides Spend Analytics, Spend Automation and eSourcing solutions to leading global enterprises. The Simfoni platform utilizes machine learning and artificial intelligence to accelerate and automate key aspects of the procurement and sourcing processes, 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 CSR (Corporate Social Responsibility) objectives. For additional information, please visit https://simfoni.com/.
About Spend Matters
Spend Matters is the leading solution intelligence source for procurement and supply chain professionals. Combining deep technology analysis and tailored advisory services with daily news coverage and subscription research, Spend Matters is trusted by CPOs, consultants, investors and solution providers alike as their procurement technology intelligence partner. Spend Matters is owned and managed by Azul Partners, Inc.
About SIG
Sourcing Industry Group (SIG) is the premier global association for sourcing, procurement, and risk professionals. Founded in 1991, SIG provides thought leadership, networking, and training opportunities to executives in sourcing, procurement, and outsourcing from Fortune 500 and Global 1000 companies. It has served these professionals and opened dialogues with their counterparts in finance, HR, risk, and other business functions throughout its history. The organization is unique in that it blends practitioners, service providers and advisory firms in a non-commercial environment.
About Future of Sourcing
Future of Sourcing is a SIG digital publication that produces the latest content for the opinion-formers and decision-makers at the heart of the global sourcing community. Future of Sourcing columnists and contributors are thought leaders in the global sourcing community and provide innovative insight on challenges and opportunities in the industry today. Originally launched as Outsource Magazine in 2005, the digital publication has been rebranded to reflect the innovations in the industry and celebrate those who are leading the change.
