Simfoni and WTP Buynamics Enter Into Joint Venture to Bring Market-Leading Should Cost Modelling to USA
Simfoni, a next generation digital solutions provider for procurement analytics and spend automation, and WTP Buynamics, an innovator in the field of should cost modelling and vendor rating solutions, today announced a joint venture partnership to bring “What’s the Price” (“WTP”) capabilities to the US market.
Chairman Chirag Shah commented on the partnership, “A key part of the Simfoni strategy is to mesh internal customer data with external data to create a holistic perspective on spend management. This generates much richer insights supporting better decision-making. The WTP solution offered by Buynamics is unique in the market and blends very neatly with our category management module to offer strategic buyers a real-time source of truth for managing complex negotiations.”
Available as a standalone SaaS product, or bundled with Simfoni’s Analytics, the WTP should cost solution is aimed at retailers, wholesalers and manufacturers. All of whom stand to benefit from significant information advantage through the use of the WTP functionality.
Robert Driessen, CEO of WTP Buynamics, also a Spend Matters Almanac Top 50 Vendor to Watch, explained, “We are currently experiencing tremendous growth across Europe and have limited resources to pursue opportunities in the USA because it requires another level of focus and investment. The partnership with Simfoni gives us overnight access to a wide range of customers and channel partners in the US market that we otherwise would not be able to penetrate for some time. The combined solution is a very powerful tool that not only highlights how organizations can save money through improved negotiations but can also contextualize the opportunity in real dollar terms.”
Simfoni provides spend analytics and spend automation products to leading global enterprises. Products employ machine learning and artificial intelligence to accelerate and automate key aspects of the procurement process, saving customers both time and money in the process. Based in USA, Europe and Middle East, Simfoni works "in harmony" with its customers and their vendor community to improve vendor diversity and other CSR objectives.
About WTP Buynamics
WTP Buynamics offers data-based should cost software which gives insight in all commodity prices and cost drivers due to big data. The SaaS tool offers market price data on thousands of resources. Provides customized reports in a variety of formats. Within minutes it offers buyers a lot of information they can use to get better results in their negotiations.
WTP is a tool offered by Buynamics.