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eSourcing

Image of number analysis for an article about Using advanced analytics to improve your sourcing outcomes.

Using Advanced Analytics to Improve Your Sourcing Outcomes

Advanced analytics exceeds standard business intelligence (BI) using state-of-the-art technology and tools to create data asset information and real-time statistics. These diagnostic analyses help businesses predict market trends, optimize global supply chains, to make quicker, strategic decisions to pursue financial opportunities. Analytic techniques include data mining, eSourcing software, semantic analysis, complex event processing, predictive modeling, […]

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Advanced eSourcing Tools: What Are eSourcing Best Practices?

Everyone in the procurement and purchasing fields knows that sourcing is generally a process of getting the best product from top suppliers with good terms and price. eSourcing isn’t much different. However, with advanced eSourcing tools, you can streamline your sourcing process, unlock new opportunities, and be more strategic, improving your procurement process and supply […]

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Why You Need eSourcing Software

It’s estimated that approximately 90 percent of businesses use some procurement strategy to acquire goods and services. However, not everyone is using eSourcing software — a cost-effective, efficient way to source. Yes, you could source using manual processes, spreadsheets or the old back-and-forth method, but you wouldn’t be doing your company any favors. Instead, the […]

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5 Benefits of eSourcing Tools—For Buyers and Suppliers

eSourcing technology continues to have a transformative effect on the procurement process, maximizing its overall impact with significant cost and time savings for the buyer. But what about suppliers? Although there is a myth that eSourcing leans toward only benefiting the buyer, the truth is, eSourcing has benefits for both buyers and suppliers, especially if […]

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What Is eSourcing Software?

What Is eSourcing Software? eSourcing is a digital way to source suppliers. Using a web-based system, buyers can use an eSourcing platform to collect, compare, and ultimately select suppliers. eSourcing is a small yet vital part of procurement, which affects the overall supply chain in a positive way if it’s carried out correctly. Having the […]

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Why is Tail Spend Management Important But Often Overlooked?

Why Is Tail Spend Management Important but Often Overlooked? Spend management refers to the process of managing company purchasing and relationships with suppliers to keep track of every dollar spent, resulting in procurement cost reduction. Spend analysis is broken down into categories (category management), and tail spend often is not included. Tail spend in procurement […]

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7 Essential eSourcing Tools for 2022

7 Essential eSourcing Tools for 2022 eSourcing is such an essential part of procurement. When eSourcing is optimized, it can positively affect procurement and the overall supply chain. So, what is eSource? eSourcing is sourcing done digitally—tools that aim to simplify, streamline, and improve procurement and strategic sourcing overall.The eSourcing software you use is also […]

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eSourcing Software: How to Get the Most from Your Solutions

eSourcing Software: How to Get the Most from Your Solutions If you’re wondering, “what is eSourcing?” generally speaking, eSourcing is a collection of web-based, interactive software that both improves strategic sourcing by strengthening relationships with suppliers and also helps simplify and streamline the procurement process overall. eSourcing is a dependable way to use software to […]

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A Municipalities Guide to eSourcing

A Municipalities Guide to eSourcing eSourcing refers to a buyer’s ability to collect different bids from suppliers using an online sourcing solution. Sourcing electronically instead of leaving a paper trail saves time, money, and is a much more efficient way to procure goods and services. eSourcing software is a must for local governments and municipalities […]

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EC Sourcing Group joins the Simfoni Family of Digital Procurement Solutions

EC Sourcing Group joins the Simfoni Family of Digital Procurement Solutions

SAN FRANCISCO, CA – January 2022 – Simfoni, the world’s most accessible digital procurement vendor, today announced that it has completed its acquisition of EC Sourcing Group, an established leader in eSourcing and decision award optimization. The combination of Simfoni’s market-leading Spend Intelligence module and EC Sourcing Group’s market-leading eSourcing platform will deliver enterprise customers a unique package that enables seamless data integration in turn powering insights across the strategic sourcing lifecyle.

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