Simfoni Recognized on Spend Matters’ ’50 Providers To Know’ List for the Second Year Running

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.”

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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.

SOURCE: GlobeNewswire