October 29, 2024 | Procurement Software
Today, efficient and effective procurement is more critical than ever to the success of global enterprises. Integrated procurement systems (IPS) have emerged as powerful tools to help companies streamline procurement processes, reduce costs and improve overall performance.
To take advantage of these advanced systems, however, you need to understand what they are and how they unlock procurement value.
Generative AI is revolutionizing procurement and supply chain management by enhancing visibility and efficiency. However, data quality and accessibility remain key inhibitors to effective AI implementation.
For insights on overcoming these challenges, watch this GEP INNOVATE 2024 session with GEP’s Neha Shah and CNBC’s Susan Caminiti.
Key Discussion Points:
In this session at GEP INNOVATE 2024, Joel Johnson and Mudit Kumar from GEP help organizations identify pain points, leverage technology to address them, and iterate and experiment to achieve successful AI-driven programs.
The transition to renewable sources is critical to meeting a soaring energy demand. But there are significant obstacles to overcome first. Regulatory barriers, supply chain disruptions, the need for efficient, balanced energy portfolios, and more…
Find out how industry leaders are responding to these challenges. Watch this power-packed GEP Innovate 2024 discussion, in which industry leaders share real-world insights on navigating challenges and how technology, supply chain management and innovative strategies are shaping the future of energy.
Low-value transactions, a high number of suppliers, the lack of cost baselines, no supplier negotiations. It has always been notoriously difficult to manage tail spend.
Until AI, especially generative AI, entered the picture. AI is simplifying the intake process, guiding users, initiating negotiations and streamlining communication — all without adding extra work for procurement or buyers.
In this GEP INNOVATE 2024 session, GEP vice president Joel Johnson shares AI-driven strategies and tools transforming tail spend management, along with real client success stories.
October 21, 2024 | Procure to Pay
Have you ever wondered why supplier invoices take a long time to process? How are these invoices checked and approved? What causes delays in supplier payments?
Here is the key reason in most cases.
Different teams within an organization often work in functional silos, unaware of what is happening in another function. While one team may be cross-checking the supplier invoice against the original purchase order, another team may be verifying the contractual prices and delivery terms.
October 15, 2024 | Procurement Strategy
Businesses are losing money and experiencing subpar operations and compliance issues due to inefficient purchase requisition workflows. However, leaders are tackling all these issues with automation.
We know that purchase requisitions serve as a critical initial step for acquiring goods and services. These documents are formal requests for approval to proceed with a purchase and typically contain crucial details such as the type of goods or services needed, quantity, price and the expected delivery date.
October 15, 2024 | Marketing
Brands are constantly looking for innovative ways to grab attention and form lasting connections with consumers.
One approach that has gained traction is experiential marketing.
Unlike traditional advertising, which focuses on delivering messages to audiences, experiential marketing immerses consumers in interactive experiences, allowing them to engage directly with products or services.
October 15, 2024 | Procurement Strategy
“People don’t plan to fail. They fail to plan.” Often attributed to Benjamin Franklin, this quote illustrates the value of having a detailed plan or schedule in place to guide execution.
In procurement, it’s the same thing — the difference between success and failure often hinges on effective planning and execution, and your enterprise’s procurement schedule is at the heart of its planning process.
GEP has been inducted into the inaugural Spend Matters Hall of Fame, a prestigious honor for companies who have consistently appeared on the "50 Providers to Know" list for over a decade.
