November 22, 2024 | Oil and Gas
The energy landscape is rapidly shifting, and the impact is already visible across key value chains. As the world moves towards renewable energy and away from fossil fuels, there is a growing necessity for traditional oil and gas contractors to adapt to remain relevant.
Global renewable electricity generation is projected to exceed 17,000 TWh by 2030 , representing an increase of nearly 90% compared to 2023. Forecasts by the IEA also suggest that in 2025, renewables-based electricity generation will overtake coal-fired generation, marking a significant milestone.
November 18, 2024 | Procurement Strategy
Purchasing is a substantial cost center for organizations, with indirect spending accounting for 20-30% of revenue. Procurement processing can involve hundreds or even thousands of purchases each month.
November 13, 2024 | Cost Management
Selecting the right vendors is critical to business success. A well-chosen vendor can drive operational efficiency, contribute to growth and improve profitability. In contrast, a poorly performing vendor can become a liability—leading to cost overruns, quality issues and lost opportunities. To avoid these pitfalls, businesses must engage in vendor spend analysis.
Vendor spend analysis involves a thorough review of supplier-related expenditures to evaluate their impact on a company's performance.
November 08, 2024 | Procurement Strategy
Every procurement team has its go-to list of vendors — the suppliers who consistently deliver quality, offer competitive prices and simplify the purchasing process.
These strong partnerships aren’t accidental; they are the outcome of deliberate selection, effective communication and a sustained focus on building value over time.
Strategic vendor sourcing is a crucial practice that transforms this process from guesswork into a structured, repeatable approach.
November 08, 2024 | Procurement Strategy
Effective contract management is essential for any enterprise, and for healthcare organizations, it’s even more so. With the intricate web of provider agreements, payer contracts, pharmaceutical deals and vendor agreements, procurement teams at healthcare organizations face a multitude of challenges in ensuring compliance, optimizing costs and mitigating risks.
GEP’s chief product officer Santosh Nair discusses how the company’s cutting-edge AI innovations are transforming procurement and driving extraordinary business outcomes in this session at GEP INNOVATE 2024.
November 04, 2024 | Procurement Strategy
Let's face it, corporate procurement can be stressful. It can feel like a never-ending cycle of RFPs, negotiations, and contract management. Procurement teams often struggle with rising raw material costs, complex regulations and compliance challenges. Limited visibility into the supply chain, inefficient processes and manual tasks add to their woes.
If any of these challenges resonate, you're not alone.
Everest Group has named GEP a Leader in the 2024 Source-to-Contract (S2C) Services PEAK Matrix® Assessment, highlighting our ability to help enterprises achieve procurement excellence.
GEP has been recognized as a Leader and a Star Performer in the 2024 Everest Group Procurement Outsourcing (PO) Services PEAK Matrix® Assessment, reaffirming our leading position in procurement transformation.
GEP’s chief product officer Santosh Nair discusses how the company’s cutting-edge AI innovations are transforming procurement and driving extraordinary business outcomes in this session at GEP INNOVATE 2024.
