Simfoni Features

Consolidates procurement data from multiple systems such as ERP systems and supply chain suites.

Define rules and workflows that managers can use to approve different kinds of spending.

Align spending across various departments such as procurement and accounting.

Provide standard spend KPIs that can be customized by users.

Use historical spend data to create benchmarks per company or department.

Provide forecasts on future trends that may impact spending performance.

Identify savings opportunities per activity, department, or at the company level.

Manage workflows and business processes for procurement.

Provide standard procurement contracts that can be customized.

Maintain a repository of content such as catalogs and other documents.

Define requisition rules for various types of procurement.

Identify and assess suppliers for different products and services.

Create and manage purchase orders for products and services.

Include features for procurement invoicing and e-invoicing.

Improve visibility into procurement activities across the company.

Monitor the performance of procurement operations.

Analyze procurement spending and identify future trends.

As reported in 11 Simfoni reviews. Provide benchmarking options for comparison with peers

As reported in 11 Simfoni reviews. Include standard spending KPIs that can be customized

Based on 10 Simfoni reviews. Deliver reports for compliance purposes

Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud 11 reviewers of Simfoni have provided feedback on this feature.

Consolidate information from multiple sources or multiple entities 11 reviewers of Simfoni have provided feedback on this feature.

Classify information by category, supplier, or supplier This feature was mentioned in 11 Simfoni reviews.

Based on 11 Simfoni reviews. Integrate with external sources for market intelligence

As reported in 11 Simfoni reviews. Integrates with ERP systems general ledgers for transfering of AP transaction data

Ability to cleanse and consolidate AP data This feature was mentioned in 11 Simfoni reviews.

Approve, reject, or query historical payment transactions to identify anomalies This feature was mentioned in 10 Simfoni reviews.

Recover overpayments, duplicate payments, or unused credits from suppliers 10 reviewers of Simfoni have provided feedback on this feature.

Based on 10 Simfoni reviews. Constantly evaluate AP transactions to optimize workflows

As reported in 10 Simfoni reviews. Improves management oversight by reconciling external data against internal transaction data

As reported in 10 Simfoni reviews. Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk

Online credit card number that can be instantly sent to employees and used for secure, one-time purchases

Online credit card number that can be instantly sent to employees and used for secure, recurring payments, such as subscriptions or services

Physical credit cards used by employees for various expenses that allow management to monitor spending and budgets

Report on spend transactions as they happen in real time

Reports that allow the user to sort and filter by vendor, team, GL, department, etc.

The ability to export reports in various formats, such as excel, CSV, and Google Sheets

Report on and track spending against budgets

Pay vendors through a dashboard or portal and maintain vendor payment information

Manage and execute recurring payments, such as subscriptions, services, utilities, etc.

Reimburse an employee for all necessary expenditures or losses incurred by the employee within the employee's scope of employment

Allows for the electronic transfer of funds between banks

Real-time notifications for fraudulant and/or duplicate spending

Individual, unique cards for each vendor to help manage duplicate and overpayments

Control spend limits, expiration dates, and lock and unlock stolen or lost cards

Provides a centralized library containing product data. This feature was mentioned in 12 Simfoni reviews.

Enables users to assign custom categories to products. 12 reviewers of Simfoni have provided feedback on this feature.

As reported in 10 Simfoni reviews. Creates and manages product catalogs.

Based on 11 Simfoni reviews. Assists with maintaining compliance with controlled processes, automated tracking, and audit trails.

Identifies revenue opportunities by providing better visibility into spend data, improving supplier relationships, streamlining procurement processes, and identifying cost savings opportunities 10 reviewers of Simfoni have provided feedback on this feature.

Provides organizations with the tools and data they need to negotiate contracts more effectively, such as data analysis, collaboration, and contract management. 11 reviewers of Simfoni have provided feedback on this feature.

As reported in 10 Simfoni reviews. Increases spend visibility into pricing and unintended or excessive use of discounts or promotions by customers.

Identifies noncompliant spending, fraud, and other activity outside of company policy.

Analyzes spending patterns and identifies areas to reduce costs. 11 reviewers of Simfoni have provided feedback on this feature.

Provides a dashboard for searching and reporting on contracts and projects. 12 reviewers of Simfoni have provided feedback on this feature.

As reported in 12 Simfoni reviews. Manages contracts in a single, online central repository.

Based on 11 Simfoni reviews. Manages the entire contract lifecycle process by providing visibility into projects and allocating resources across sourcing initiatives.

Anticipates needs and offers suggestions without prompting

Ability to break down and plan multi-step processes

Makes informed choices based on available data and objectives

Ability to break down and plan multi-step processes

Works across multiple software systems or databases

Improves performance based on feedback and experience