We’re A Leader 2024 HFS Horizons Report for Sourcing and Procurement Service Providers
GEP has been named a Market Leader in the 2024 HFS Horizons Report for Sourcing and Procurement (S2P) Service Providers.
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Top 5 Use Cases of Leveraging Analytics in Procure-to-Pay
July 09, 2024 | Procurement Software
Your business generates a vast amount of data during the procure-to-pay (P2P) cycle. But can it use all this data generated from multiple source systems? Does it have a system in place to organize this data and derive useful insights?
The inability to use this P2P data often leads to process delays and inefficiencies and exposes your business to several risks. It can also hamper communication and relationships with key suppliers.
The Secret of Getting Invoice Approval Workflow Right
July 08, 2024 | Procurement Software
Let’s face it. Managing approvals can be a laborious and time-intensive process prone to errors if done manually.
In the absence of a proper workflow, there comes a disconnect between the goals of businesses and their procurement teams.
If obtaining an approved purchase order through the designated process takes too long or is too cumbersome, procurement teams will resort to side-stepping the official process – this can lead to mis-managed spending.
Here is a list of key obstacles that manual invoice approval workflows can cause:
Marketing Procurement: Strategies to Maximize Value
July 05, 2024 | Procurement Strategy
In today's fragmented attention economy, marketers face the challenge of reaching customers across an ever-expanding array of platforms, devices, and screens.
To succeed, they must develop capabilities that enable them to operate effectively in this modern marketing environment.
What is Planned Procurement and How Should You Implement it?
July 04, 2024 | Procurement Strategy
Procurement teams can no longer afford to operate in a reactive mode. Ad-hoc procurement processes lead to inefficiencies, missed opportunities, and a lack of strategic alignment across the enterprise. This is where the concept of planned procurement can be a transformative.
For procurement leaders seeking to drive greater value, control costs, and mitigate risks more effectively, planned procurement offers a path toward optimization and procurement excellence.
Leading Utility Mitigates Supply Risk and Reduces Costs With GEP
To ensure supply continuity and reduce costs as it expanded operations, a leading U.S. utility company partnered with GEP to address supply risks, improve working capital and streamline the budgeting and planning process.
AI’s Growing Influence on E-Procurement Savings
July 03, 2024 | Cost Management
Artificial intelligence (AI) is transforming e-procurement, offering enterprises new opportunities for cost savings.
Traditional e-procurement systems have long provided cost benefits through process automation and improved visibility. AI builds on this foundation, adding layers of data analytics and predictive capability.
How AI-Powered Supplier Relationship Management Can Unlock the Hidden Value of Procurement
July 03, 2024 | Procurement Strategy
As a procurement professional, how do you approach supplier relationship management (SRM)? Do you have a structured, data-driven program in place? Or do you find it difficult to work with suppliers and make sense of a lot of unstructured data?
But first, what is it about SRM that makes it so difficult yet crucial for procurement and the larger business?
Role of PO Analytics in Enhancing P2P Performance
July 03, 2024 | Procurement Strategy
Purchase order (PO) analytics is an essential component of procure-to-pay (P2P) performance. It allows businesses to track PO compliance, analyze spend patterns and monitor supplier performance.
Businesses can focus and optimize how purchase orders are created, approved and completed. Leveraging data driven insights from POs helps businesses identify potential cost savings, streamline processes and improve supplier relationships.
The Procurement Metrics that Matter in 2024
AI and risk management are high on the priority list for CPOs. Cost saving is back on the agenda for procurement leaders as well. What other metrics are on the radar for 2024?
Watch this GEP-Ardent Partners webcast to dive into the findings from new research — Ardent Partners’ Procurement Metrics that Matter in 2024 — a compilation of the industry’s top performance and operational benchmarks.
Key Discussion Points:
