SAN FRANCISCO, April 28, 2020 /PRNewswire/ -- Simfoni Limited, a global innovator in Spend Analytics and Spend Automation, announced the appointment of Jason Stern to Chief Executive Officer of Simfoni Analytics, and the opening (soon) of an additional office and moving of US Headquarters to San Francisco, the heart of technology innovation.
"Last quarter Simfoni announced a strategic Investment to further ramp our growth and meet the increasing demand for our innovative real Artificial Intelligence (AI) Spend Analytics SaaS application. Today I am proud to announce we are executing extremely well on our strategy, even moreso in these uncertain times when supply chain risk and cost visibility are paramount concerns. We have hired a proven leader, started the year off with the two strategic multiyear competitive wins; a leading global payment processor and a well-known private equity firm for their portfolio companies. Plus, once again, Simfoni Analytics was listed as a top-ranked, best-of-breed spend analytics solution in the Spend Matters® Solution Map," said Chirag Shah, Executive Chairman Simfoni.
Jason Stern has held a number of CEO roles including at Selectica during its time as a public company and recognized a leader in Contract Lifecycle Management (CLM). Under Stern's leadership CLM revenue grew over 500%, the company was cashflow positive for the first time in its 10-year history and the stock rose from $0.25 to over $10. Mr. Stern has also held leadership positions at Jelli, an iHeartMedia company (Ihrt), Model N (Modn), and Oracle (Orcl).
"I believe Simfoni has developed a truly differentiated solution for spend intelligence. The use of AI and the ability of the product to not only look backward at spend, but look forward to provide direction on where to manage risk and how to improve procurement effectiveness," said Mr. Stern. "Simfoni customers are well-positioned to answer tough decisions in the coming months, I have already spoken to many that feel using Simfoni has put them in control because they have the insights to make the right decisions."
The new US headquarters will be located in San Francisco's vibrant SoMa district once we are all back to work. Simfoni will continue to operate globally through regional headquarters in Chicago, London, Dubai and Melbourne.
About Simfoni: Simfoni.com 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, providing rapid time to value, saving customers both time and money in the process. Based in the USA, Europe and Middle East, Simfoni works "in harmony" with its customers and their vendor community.
CMO, Simfoni Analytics