Simfoni is an AI-enabled procurement and spend-management platform that the vendor calls "composable spend management": modules that can be used separately or together. The offering includes spend analytics (classification of direct and indirect spend, benchmarking, price variance and ESG reporting), eSourcing (RFx, supplier onboarding, savings tracking and contract management) and tail-spend management with a marketplace and supplier payments. Vitesse consolidates many small purchases under one master vendor with a single invoice. A version running natively on Snowflake is also offered. The services are combined with software platforms and procurement experts, including in partnership with Kearney.
Simfoni is headquartered in Bedminster, New Jersey (US) and is subject to US law. According to its trust and privacy pages, the cloud application runs on Amazon Web Services and client data is encrypted; the AWS regions are not named. Simfoni positions itself as a processor under the GDPR, refers to a SOC 2 report and provides a GDPR policy document. The software is not open source. European organisations should have the hosting location confirmed in advance.