Simfoni Features
What are the features of Simfoni?
Analytics
- Benchmarking
- KPIs
- Errors
Data Management
- Consolidation
- External Sources
- Integration
- Cleaning
Supplier Marketplace
- Library
- Categorization
Contract Management
- Compliance
- Negotiations
Data Collection
- Savings
Project Management
- Dashboard
- Repository
- Lifecycle
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Setup
Data | Consolidates procurement data from multiple systems such as ERP systems and supply chain suites. | Not enough data | |
Approvals | Define rules and workflows that managers can use to approve different kinds of spending. | Not enough data | |
Alignment | Align spending across various departments such as procurement and accounting. | Not enough data |
Performance
KPIs | Provide standard spend KPIs that can be customized by users. | Not enough data | |
Benchmarks | Use historical spend data to create benchmarks per company or department. | Not enough data | |
Forecasting | Provide forecasts on future trends that may impact spending performance. | Not enough data | |
Savings | Identify savings opportunities per activity, department, or at the company level. | Not enough data |
Planning
Processes | Manage workflows and business processes for procurement. | Not enough data | |
Contracts | Provide standard procurement contracts that can be customized. | Not enough data | |
Content | Maintain a repository of content such as catalogs and other documents. | Not enough data | |
Requisition | Define requisition rules for various types of procurement. | Not enough data |
Execution
Sourcing | Identify and assess suppliers for different products and services. | Not enough data | |
Purchasing | Create and manage purchase orders for products and services. | Not enough data | |
Invoicing | Include features for procurement invoicing and e-invoicing. | Not enough data |
Analytics
Visibility | Improve visibility into procurement activities across the company. | Not enough data | |
Performance | Monitor the performance of procurement operations. | Not enough data | |
Spend | Analyze procurement spending and identify future trends. | Not enough data | |
Benchmarking | Provide benchmarking options for comparison with peers 11 reviewers of Simfoni have provided feedback on this feature. | 92% (Based on 11 reviews) | |
KPIs | Based on 11 Simfoni reviews. Include standard spending KPIs that can be customized | 95% (Based on 11 reviews) | |
Compliance | As reported in 10 Simfoni reviews. Deliver reports for compliance purposes | 92% (Based on 10 reviews) | |
Errors | Analysis that identifies errors in AP processes such as duplicate payments, anomalies, and fraud 11 reviewers of Simfoni have provided feedback on this feature. | 91% (Based on 11 reviews) |
Data Management
Consolidation | Based on 11 Simfoni reviews. Consolidate information from multiple sources or multiple entities | 98% (Based on 11 reviews) | |
Classification | Classify information by category, supplier, or supplier This feature was mentioned in 11 Simfoni reviews. | 95% (Based on 11 reviews) | |
External Sources | Based on 11 Simfoni reviews. Integrate with external sources for market intelligence | 95% (Based on 11 reviews) | |
Integration | Integrates with ERP systems general ledgers for transfering of AP transaction data 11 reviewers of Simfoni have provided feedback on this feature. | 94% (Based on 11 reviews) | |
Cleaning | Ability to cleanse and consolidate AP data 11 reviewers of Simfoni have provided feedback on this feature. | 94% (Based on 11 reviews) |
Recovery
Historical payments | Based on 10 Simfoni reviews. Approve, reject, or query historical payment transactions to identify anomalies | 93% (Based on 10 reviews) | |
Overpayments | Recover overpayments, duplicate payments, or unused credits from suppliers 10 reviewers of Simfoni have provided feedback on this feature. | 90% (Based on 10 reviews) |
AP Data Processing
Workflows | Constantly evaluate AP transactions to optimize workflows 10 reviewers of Simfoni have provided feedback on this feature. | 97% (Based on 10 reviews) | |
Transparency | Based on 10 Simfoni reviews. Improves management oversight by reconciling external data against internal transaction data | 95% (Based on 10 reviews) | |
Controls | Strengthens process controls by using analysis to proactively reduce errors before they happen and detect fraud risk 10 reviewers of Simfoni have provided feedback on this feature. | 97% (Based on 10 reviews) |
Payment Cards
One-time Virtual | Online credit card number that can be instantly sent to employees and used for secure, one-time purchases | Not enough data | |
Recurring Virtual | Online credit card number that can be instantly sent to employees and used for secure, recurring payments, such as subscriptions or services | Not enough data | |
Physical | Physical credit cards used by employees for various expenses that allow management to monitor spending and budgets | Not enough data |
Reporting
Real time | Report on spend transactions as they happen in real time | Not enough data | |
Multiple Views | Reports that allow the user to sort and filter by vendor, team, GL, department, etc. | Not enough data | |
Export | The ability to export reports in various formats, such as excel, CSV, and Google Sheets | Not enough data | |
Budgets | Report on and track spending against budgets | Not enough data |
Payments
Vendor | Pay vendors through a dashboard or portal and maintain vendor payment information | Not enough data | |
Recurring | Manage and execute recurring payments, such as subscriptions, services, utilities, etc. | Not enough data | |
Employee Reimbursements | Reimburse an employee for all necessary expenditures or losses incurred by the employee within the employee's scope of employment | Not enough data | |
ACH | Allows for the electronic transfer of funds between banks | Not enough data |
Fraud & Risk Management
Notifications | Real-time notifications for fraudulant and/or duplicate spending | Not enough data | |
Unique Cards | Individual, unique cards for each vendor to help manage duplicate and overpayments | Not enough data | |
Controls | Control spend limits, expiration dates, and lock and unlock stolen or lost cards | Not enough data |
Supplier Marketplace
Library | Provides a centralized library containing product data. This feature was mentioned in 12 Simfoni reviews. | 82% (Based on 12 reviews) | |
Categorization | Enables users to assign custom categories to products. This feature was mentioned in 12 Simfoni reviews. | 85% (Based on 12 reviews) | |
Data Management | Based on 10 Simfoni reviews. Creates and manages product catalogs. | 83% (Based on 10 reviews) |
Contract Management
Compliance | Based on 11 Simfoni reviews. Assists with maintaining compliance with controlled processes, automated tracking, and audit trails. | 77% (Based on 11 reviews) | |
Revenue | Identifies revenue opportunities by providing better visibility into spend data, improving supplier relationships, streamlining procurement processes, and identifying cost savings opportunities This feature was mentioned in 10 Simfoni reviews. | 70% (Based on 10 reviews) | |
Negotiations | As reported in 11 Simfoni reviews. Provides organizations with the tools and data they need to negotiate contracts more effectively, such as data analysis, collaboration, and contract management. | 80% (Based on 11 reviews) |
Data Collection
Spend | Increases spend visibility into pricing and unintended or excessive use of discounts or promotions by customers. This feature was mentioned in 10 Simfoni reviews. | 83% (Based on 10 reviews) | |
Compliance Reports | Identifies noncompliant spending, fraud, and other activity outside of company policy. | Not enough data | |
Savings | As reported in 11 Simfoni reviews. Analyzes spending patterns and identifies areas to reduce costs. | 82% (Based on 11 reviews) |
Project Management
Dashboard | Based on 12 Simfoni reviews. Provides a dashboard for searching and reporting on contracts and projects. | 85% (Based on 12 reviews) | |
Repository | Manages contracts in a single, online central repository. 12 reviewers of Simfoni have provided feedback on this feature. | 88% (Based on 12 reviews) | |
Lifecycle | Manages the entire contract lifecycle process by providing visibility into projects and allocating resources across sourcing initiatives. This feature was mentioned in 11 Simfoni reviews. | 79% (Based on 11 reviews) |
