Building on record-setting growth and industry-wide recognition, Simfoni is selected for Spend Matters' '50 Providers to Know' list.
SAN FRANCISCO, Oct. 20, 2022 /PRNewswire-PRWeb/ -- Simfoni, the next-generation digital solutions provider for procurement intelligence and tail spend management, has been named one of Spend Matters '50 Providers to Know' for 2022 amidst a flood of recent awards and recognitions from industry analysts, experts, and insiders.
Over the last year, Simfoni has strengthened its position, internationally, as the recognized market leader for tail spend management. 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 with Optimization, can be accessed as a holistic 'all-in-one spend management toolkit' or layered with existing technology to drive maximum impact and ROI.
According to Nick Heinzmann, VP of Research at Spend Matters, "Simfoni delivers a suite of spend management capabilities unlike any other in the tail spend category. 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."
Spend Matters' recognition of Simfoni on the '50 Providers to Know' list acknowledges the company's rapid growth into an industry-leading solutions provider. Simfoni has previously ranked on their '50 Providers to Watch' list each year since the company's inception and was one of only four companies to advance to the '50 Providers to Know' 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.
"2022 was a truly transformative year for Simfoni - one that I already find myself looking back on with pride and excitement, said Chirag Shah, Simfoni Founder, and Executive Chairman. "We have solidified our position in the top echelon of providers for tail spend management, completed strategic acquisitions that both complement and strengthen our suite of offerings, and have been the recipient of a litany of industry awards and acknowledgements that recognize the quality of our team, products and solutions, and company culture. Advancing to the '50 to Know' is a testament to the momentum we've built over the last year and an exciting recognition to add to our 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 recently added to the 2022 Gartner® Hype Cycle™ as a sample vendor in the categories of Tail Spend Management, Predictive Analytics, and Procurement Savings Management. Simfoni was also recognized as a "Hot Company of the Year" as the 2022 Globee award winner for advancement in Artificial Intelligence.
The Spend Matters '50 Providers to Know' and '50 Providers to Watch' lists are available here.
Simfoni received additional recognition at the SIG Global Executive summit with two 'Future of Sourcing Award' nominations.
Coinciding with the release of the Spend Matters '50 to Know' lists, Simfoni's David Bush, CEO of Spend Automation, and Jonathan Wagner, Senior Manager of Spend Automation, were named finalists for the SIG 2022 Future of Sourcing Awards in the individual categories of Sourcing Star and Rising Star, respectively. The Future of Sourcing Awards celebrates organizations and individuals that are transforming, leading, and innovating in categories critical to the sourcing, procurement, and supply industry.
"David is – quite literally – a legend in the field of procurement technology and has contributed immeasurably to Simfoni's success in delivering cohesive Tail Spend Management solutions on a global scale," said Shah. "Jonathan has grown in leaps and bounds since joining Simfoni. He is hungry to learn at every opportunity and has become a trusted advisor to clients and suppliers alike. On behalf of all of us at Simfoni, we congratulate David and Jonathan on these exciting recognitions."
Finalists were selected by a panel of judges composed of some of the most influential and transformative individuals in the sourcing industry. The winners were announced at SIG's Global Executive Summit in Rancho Mirage, California on October 19.
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.
Media Contact
Megan Hamner, Simfoni, 1 2036769252, [email protected]
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