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Spend Management

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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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Image of a lightbulb for an article about How to Streamline Contract and Procurement (During the Covid-19 Pandemic).

How to Streamline Contracts and Procurement (During the COVID-19 Pandemic)

How to Streamline Contracts and Procurement (During the COVID-19 Pandemic) Streamlining contracts and procurement even before the COVID-19 pandemic may have been difficult. Still, once the pandemic hit and everyone had to move to work remotely, it may have become much more difficult. As the pandemic surges on, your sourcing and contract management strategies may […]

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Top 5 Reasons You Need Procurement Tracking Software

Once upon a time, companies had to manage purchasing departments and procurement management as though it was the Dark Ages. Everything was done by hand—there were no computer software programs to help, there were no emails, and there were no spreadsheets.  Everything was written and manually filed, and all vendor and supplier contact was performed […]

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What Are Spend Analysis Methods?

Spend analysis is, quite simply, exactly what it sounds like—analyzing how much you’re spending and what you’re spending it on. Spend analysis and procurement roughly means the same things, but there is a much deeper methodology behind the analytics. Analyzing the spending habits of an entire purchasing and procurement department is quite different than balancing […]

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Are Your RFPs Delivering the Cost Savings and Efficiencies Promised?

RFPs that fail to deliver expected cost savings and/or efficiency gains frustrate procurement professionals and stakeholders. The issues typical revolve around insufficient planning or conflicting goals. As you read the points that have been shared with me, consider how these issues have impacted your organization. Insufficient Planning – This is mentioned as an issue virtually […]

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How Optimization Gives Your Sourcing Team a Strategic Advantage – A Real Life Example

You have probably heard about optimization and might be wondering if it will give your sourcing team a strategic advantage. Let me start with a brief recap on the excitement surrounding optimization from past posts. Big data, storage capacity and computing speed have allowed procurement teams to gather tremendous amounts of data. The issue has […]

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