Labor disputes, increasing compliance requirements and slow economic growth – with these challenges, the shipping and global trade industries are in testing waters. Companies in these domains seek new ways to stay afloat and maximize profits.
Cost overruns and maverick spend impede the growth of home construction products companies. A leading manufacturer in this domain with more than 80 manufacturing companies spread globally deployed GEP SMARTTM to enhance visibility of its entire procurement operation and optimize its spend management processes.
A Fortune 500 energy company’s procurement function managing a huge supplier base and billions in spend, with not-so-modern tools, failed to achieve desired levels of supplier integration to improve its sourcing and reporting capabilities.
Learn how GEP SMARTTM Procurement Platform enabled in-depth procurement visibility for the client and, through improved integration with suppliers, helped automate and streamline sourcing and supplier management activities.
While direct purchases in most enterprises are fairly optimized, indirect purchases — with their inherent traits, such as large supplier base, complex data and high invoice volume — are prone to process inefficiencies and higher risk of maverick spending. So, how do procurement managers maintain a hawk-eye on every indirect purchasing activity to ensure savings and compliance?
The modern day solution to this age-old concern is Purchase-to-Pay (P2P) automation.
Modern-day purchase-to-pay (P2P) systems with advanced mobile capabilities offer unmatched mobility and flexibility to procurement pros. These systems provide anytime, anywhere access to users, allowing them to manage and execute all their P2P operations on the go.
But this flexibility also brings forth several challenges related to data security.
Technology today has become a key enabler for procurement teams to optimize operations, drive efficiencies, and bring more spend under management. But with so many products available on the market, choosing the best-fit procurement solution for your business is now not only critical but also quite difficult.
Good thing is, we’ve got you covered.
Intelligent, intuitive procurement software from GEP is helping enterprise procurement teams worldwide boost productivity, streamline complex work flows and eliminate processing snarls.
In today's demanding economic environment of rapid change, there is constant pressure on organizations to drive greater efficiencies, compete more effectively, and be proactive. It is imperative for large companies to look for new smarter ways to manage spend and lower their costs through effective compliance management, while building more efficient and sustainable operations.
As the role of procurement evolves from transactional facilitator to trusted business advisor, mastery of the next generation of analytics – a.k.a. “big data” – will be a key enabler.
Given persistent uncertainty in the economy, Chief Procurement Officers are being put on the hot seat at many global organizations, facing enormous pressure to reduce spend enterprise-wide and deliver increased savings year after year.
