Procurement

AI-driven consumption analysis solves more than just data collection

Use machine learning to achieve 100% transparency

Data collection, purification, normalization and classification are the first steps to solve many types of purchasing problems.

If your expense data does not include transactions from all systems or is not categorized to level 4+, you may not know exactly where your purchasing risks and opportunities lie.

Our Simfoni Spend Analytics has dashboards that visualize all purchasing areas and provide an extreme degree of filtering, classification and normalization that allows you to focus on the areas that affect your business the most. And our dashboards increase visibility to all levels of your team.

Whether you are a finance manager, sourcing specialist or procurement manager, Analytics provides data management, opportunity assessments and decision bases for data-driven purchasing decisions.

Opportunities & Benchmarking

Know your starting point and your options
The Simfoni AI-powered assessment tool finds savings opportunities using 13 savings handles and benchmark data across industries and regions. With this information, Simfoni Analytics produces proposals for initiatives that are ranked according to the amount of potential savings and that are ready to be executed.

Optimization of suppliers

Consolidate suppliers, increase contracts and catalogs

Buying quality products at reasonable prices can seem like magic to many, but professional buyers work hard to get the best product at the best terms and prices.

Because Simfoni Analytics provides classification for level 4+, professional buyers have an increased opportunity to find equivalent products and comparable suppliers. With the visibility of the supplier potential in the Commonality Analysis Dashboard, volumes and suppliers can be consolidated across the company’s departments and units.

KPI'ere, Budget & Forecast

Forecast future expenses based on data

Thanks to advanced machine learning models, Simfoni’s forecasts help you proactively budget and plan purchasing activities months in advance. We give you the opportunity to see what’s coming around the corner.

The dedicated forecasting module uses statistical calculations of past consumption patterns and market intelligence to create accurate forecasts.

Price Variant

Make budgets and forecasts with built-in and known price deviation

When preparing budgets for the coming year (s), using existing material prices is an obvious place to start. In many cases, however, companies do not just pay a single price for an item.

Spend Analytics highlights the price variation in the various purchases of the same item. Spend Analytics also takes into account purchasing communities, contract costs and seasonal price fluctuations.

Tail Spend kontrol

Map out the patterns in the many small purchases

Tailspend is traditionally defined as approx. 20% of an organization’s expenses, which come from approx. 80% of their suppliers. Each transaction seems like a small deal, but put together, it runs up considerable amounts and time spent processing so many transactions and managing the many vendors.

The challenge is that a lot is happening within the bottom 20% and without the right systems, it can be difficult to manage.

Consumption Management and Automation

Go one step further than controlling expenses - automate them

Symphony Spend Analytics is a great way to understand where and how much you spend. The system tells you exactly what differences the individual changes will cause. And once those changes are made, how can you then maintain your savings going forward.

Simfoni Spend Analytics is also available as part of the Simfoni Spend Automation Platform, a complete sourcing solution to help with all your purchasing needs.

Vendor Management

Contract

Providing contract-level obligation tracking to drive continuous improvement

Relationship (SRM)

The core capabilities for digitizing and operationalising Enterprise Vendor Management (EVM) across the business

Risk (Performance Compliance, Innovation)

Operationalizing vendor risk management with a standardized risk model and one-click risk capture, monitoring and mitigation