Procurement AI agent is recognized in one of the most competitive categories in this year's International Business Awards® program
BEDMINSTER, N.J., Aug. 28, 2026 /PRNewswire-PRWeb/ -- Simfoni, a global provider of spend intelligence and procurement automation solutions, today announced that Virgil, the AI agent built into its Source-to-Contract (S2C) platform, has won a Stevie® Award for Best AI-Powered Product or Service in the 2026 International Business Awards®, one of the world's most competitive business awards programs.
The Best AI-Powered Product or Service category also recognized AI offerings from several of the world's largest technology and industrial companies. Simfoni's own team is a fraction of the size of many of its fellow honorees, and Virgil's recognition rested entirely on the strength of the product and its real-world customer adoption.
"Winning a Stevie Award in this category means being judged against some of the biggest names in enterprise technology," said Chirag Shah, Executive Chairman of Simfoni. "We believed AI could do more than sit on top of procurement software. It could run inside it, as part of the actual workflow. Virgil is proof of that, and this recognition is a credit to everyone at Simfoni who helped build it into what it is today."
Source-to-contract tools are supposed to help procurement teams address more of their spend, but messy data, manual workflows, and limited headcount cap how much any team can meaningfully cover, leaving opportunities hidden and savings uncaptured. Virgil, the AI agent built natively into Simfoni's Source-to-Contract platform, closes that gap, going deeper than a typical spend suite and staying more connected than a patchwork of point solutions. It works across spend analytics, sourcing pipeline, eRFx, and contract management, automating the analysis and workflows that previously kept spend out of reach. Virgil proactively surfaces savings opportunities in a customer's data and pushes them directly into a sourcing project, connecting insight to action without manual handoffs or switching tools. Enterprise customers worldwide rely on Simfoni's Source-to-Contract platform and Virgil to run day-to-day procurement operations.
The International Business Awards are conducted by the Stevie Awards, widely regarded as the world's premier business awards program. This year's competition drew thousands of nominations from organizations of all sizes across more than 60 nations, evaluated by a global panel of business professionals.
"Procurement teams don't have a data problem, they have a time problem," said Shah. "By the time they have pulled all the relevant information together, there's no time left to act on what they found, so most of the opportunity gets missed. That's the problem Virgil was built to solve, and it's the reason customers use it every day, not just to answer questions, but to actually run their procurement function and activate more of the spend that's addressable. This award is proof that Simfoni is leading the charge in defining the AI-enabled solution for procurement."
About Simfoni
Simfoni is a global spend intelligence and procurement technology company that helps organizations gain visibility into spend, uncover savings opportunities, and streamline sourcing, contracting, and supplier management. Simfoni's Source-to-Contract platform — powered by Virgil, its native AI agent — is used by enterprise procurement teams around the world. Simfoni has offices in Chicago, New Jersey, London, and the Middle East. For more information, visit www.simfoni.com.
Media Contact
Trish McLoughlin, Simfoin, 1 415-231-3691, [email protected], simfoni.com
SOURCE Simfoin
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