{"id":46797,"date":"2022-11-28T10:13:25","date_gmt":"2022-11-28T15:13:25","guid":{"rendered":"https:\/\/simfoni.com\/?p=46797"},"modified":"2025-02-10T08:51:09","modified_gmt":"2025-02-10T13:51:09","slug":"simfoni-acquires-xeeva","status":"publish","type":"post","link":"https:\/\/simfoni.com\/news-and-events\/simfoni-acquires-xeeva\/","title":{"rendered":"Simfoni Acquires Xeeva, Leader in Indirect Spend Management Solutions"},"content":{"rendered":"
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Acquisition<\/span> places <\/span>Simfoni<\/span> in the ‘Global Top 10’<\/span> for AI-driven Spend Management<\/span><\/a> solutions<\/span><\/strong><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Simfoni<\/span><\/strong><\/a> is<\/span> thrilled to announce <\/span>it<\/span> ha<\/span>s<\/span> joined forces with <\/span>Michigan-based <\/span>Xeeva<\/span><\/strong><\/a>, a fellow leader in AI-powered spend management<\/span> and procurement<\/a> technology solutions. This <\/span>is<\/span> Simfoni’s<\/span> second strategic acquisition<\/span><\/a><\/span> in <\/span>2022 and<\/span> marks <\/span>another significant milestone as the company continues to expand upon<\/span> its solution and support competencies, accelerate growth, and solidify market dominance in indirect (tail spend<\/span><\/a>) management and AI-driven spend analytics<\/a> and eSourcing<\/span><\/a> solutions.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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“Combining forces with <\/span>Xeeva<\/span> represents a very rare and unique opportunity to leverage a highly complementary and synergistic solution provider to scale our operational infrastructure and extend competencies in a way that further differentiates our Composable Procurement™ concept<\/span>,<\/span>”<\/span>  <\/span><\/span><\/strong><\/em>said Chirag Shah<\/strong><\/a>, <\/span>Simfoni<\/span> Chairman<\/span>.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Xeeva’s<\/span> capabilities in AI-based data enrichment<\/span><\/span> and payments automation<\/span> complement<\/span>s<\/span> Simfoni’s<\/span> managed marketplace offering<\/span> and <\/span>further <\/span>strengthens <\/span>the company’s solution<\/span> <\/span>for tail spend management<\/span><\/span><\/a><\/strong><\/span>.  <\/span>Th<\/span>e acquisition<\/span> will secure<\/span> Simfoni’s<\/span> place as one of the top 10 procurement technology providers, globall<\/span>y, and “create a best of both worlds situation for <\/strong><\/em><\/span>Xeeva<\/span> and <\/span>Simfoni<\/span><\/strong><\/em> clients alike”<\/strong><\/em>, according to Shah. He continue<\/span>d, <\/span>“Our two businesses bear so much similarity that there are huge benefits in both economies of scale and economies of scope.”<\/span><\/strong><\/em><\/span> <\/span><\/strong><\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Nina <\/span>Vellayan<\/span><\/strong><\/span><\/a>, CEO of <\/span>Xeeva<\/span> commented, “I am very excited to be part of such a value-enhancing situation that offers fantastic career potential for <\/strong><\/em><\/span>Xeeva<\/span> staff and to be able to offer <\/span>Xeeva<\/span> customers heightened levels of customer service and an expansion of technology options. I would like to take this opportunity to thank our clients for choosing <\/span>Xeeva<\/span> over the years, and I know we are leaving them in good hands with <\/span>Simfoni<\/span>.”<\/span><\/strong><\/em><\/span> <\/span><\/strong><\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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Read the full press release here.<\/a><\/strong> <\/span><\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

Acquisition<\/span><\/span> places Simfoni in the ‘Global Top 10’ for AI-driven Spend Management<\/span><\/span> solutions Simfoni is thrilled to announce it has joined forces with Michigan-based Xeeva, a fellow leader in AI-powered spend management<\/span><\/span> and procurement technology solutions. This is Simfoni’s second…<\/p>\n","protected":false},"author":1,"featured_media":46800,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"give_campaign_id":0,"footnotes":""},"categories":[2529],"tags":[469,468,521,467],"class_list":["post-46797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-events","tag-procurement-analytics","tag-spend-analytics","tag-spend-analytics-software","tag-spend-management"],"yoast_head":"\nSimfoni Acquires Xeeva, Leader in Indirect Spend Management Solutions<\/title>\n<meta name=\"description\" content=\"Simfoni is thrilled to announce it has joined forces with Michigan-based Xeeva, a fellow leader in AI-powered spend management and procurement technology solutions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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The system helps organizations manage indirect spend, improve supplier engagement, and strengthen procurement governance through data-driven decision making. 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