Manual procurement processes are time-consuming and prone to errors, leading to inefficient purchasing, non-compliant spending and missed cost-saving opportunities.
Powered by AI on the GEP QUANTUM platform, GEP SMART procure-to-pay (P2P) automates and optimizes the entire procurement process from end-to-end, reducing errors and improving efficiency. It provides complete visibility, fosters collaboration, and delivers an intuitive user experience with advanced intake management that guides both casual and procurement users through a seamless purchasing journey.
Procure-to-Pay Software
Core Functions to Streamline Procurement
GEP SMART’s comprehensive P2P functionality covers the entire purchasing process. Implementation is easy and rapid, with superb legacy integration capabilities, appealing design and minimal training required for any level of user.
Invoice Automation
Automate the entire invoicing process for a touchless experience, capturing and extracting invoice data to improve accuracy. Ensure global compliance and invoice accuracy with N-way matching and manage cash flow to support smoother operations.
Payment Management
Streamline electronic payments, support major payment methods (including virtual cards), and facilitate fast, accurate payments to suppliers to minimize working capital costs, leverage dynamic discounts and optimize cash flow.
Compliance & Fraud Detection
Ensure compliance with regulatory and internal requirements while preventing fraud through advanced algorithms and analytics. Leverage the latest virtual card features to strengthen security and safeguard sensitive financial data.
Budget Management
Create and manage budgets aligned with your organization's goals, monitor them with utilization controls, track consumption, and integrate with any ERP system to boost efficiency, reduce costs, and ensure accuracy and financial compliance.
Inventory & Warehouse Management
Gain real-time inventory visibility through a centralized solution to optimize goods consumption, purchasing planning, order replenishment and goods received. Ensure effective direct material and MRO (maintenance, repair, operations) procurement.
Do More With GEP SMART Procure-To-Pay Software
- Automate downstream processes. Reduce processing time, effort, errors and paperwork.
- Analyze spend patterns by category, supplier or geography. Identify new savings opportunities.
- “Flip” completed auctions and other sourcing events straight into requisitions with a few clicks.
- Create large-quantity or high-value requests for bidding and flip them into sourcing events.
- Configure goods by commodity. Generate partial or full receipts with various drop-off and match options.
- Maintain a robust audit log. Record relevant data throughout the invoicing lifecycle.
Key Differentiators for Sustainable Value
Procurement Orchestration
Facilitate end-to-end orchestration across S2P workflows and supply chain with a comprehensive procurement solution that drives strategic and operational outcomes. Leverage autonomous procurement to route user requests to the best channel, ensuring transparency, a superior user experience and strong compliance.
Strong Direct Material Capabilities
Get visibility into manufacturing, quality control, vendor-managed inventory, warehouse operations, bill of materials management and advanced shipping notice alerts. Enable seamless supplier collaboration throughout the product lifecycle to reduce costs, mitigate risks and enhance innovation.
Configurable Workflow
Use easy, drag-and-drop tools to build flexible workflows that adapt to your business needs without heavy IT support. This approach improves visibility and speeds up responses. Enable a persona-based approach to drive effective workflows, enhance visibility and rapid responses for optimal outcomes.
Robust ESG Compliance
Collaborate with sustainable suppliers to ensure compliance throughout P2P, with automatic routing to those meeting your organization's standards. Gain full visibility, set baselines, define targets, and efficiently manage and report on ESG performance to meet compliance requirements.
Advanced AI, Analytics & Reporting
Track KPIs, identify cost-saving opportunities and process improvements, and generate custom reports with the help of generative AI and powerful analytics for visibility into procurement performance and supplier metrics.
Global Invoicing Compliance
Leverage a sophisticated open e-invoice network to facilitate global e-invoice compliance while streamlining business processes, to comply with invoicing regulations and local tax requirements. Utilize local legal regulation knowledge base to ensure compliance and reduce business continuity risk.
Frequently Asked Questions
GEP SMART P2P software gives users the flexibility to custom-configure approval workflows. All approvers (serial, parallel and pool) and automatic approvals are decided by a combination of variables. The purchase requisition and approval process can be simplified by allowing low-risk, low-value, catalog-based purchase requisitions to be directly forwarded to pre-approved suppliers, and other purchase requests to be sent to designated personnel.
Yes — the GEP SMART procure-to-pay solution features interactive dashboards that allow tracking of open and fulfilled purchase orders at every level, in a single convenient view, regardless of whether purchase requisitions are attached.
Yes — GEP SMART can perform multi-way invoice matching, resolving problems that might result in invoice exception. Well before invoices reach accounts payable, GEP SMART runs change-invoice and change-order processes to effectively incorporate changes in pricing or quantity. And since invoice form and composition have no bearing on the process, GEP SMART can handle invoices whether they are submitted without an order, on paper, or via email.
Yes — supplier relationship management is a major function of the GEP SMART procurement platform. GEP SMART helps users monitor performance and proactively maintain better relationships with suppliers. Supplier relationship management on GEP SMART features the ability to construct robust governance structures, deploy appropriate supplier engagement models, and participate in an assortment of focused, joint activities. It also gives users the power to define action plans, assign stakeholders and measure results of supplier engagements.
Standalone P2P tools often fail to efficiently link together all processes of the S2P cycle, impeding collaboration and stifling the workflow. GEP SMART, on the other hand, is much more than a procure-to-pay platform. It is a complete, unified, source-to-pay procurement platform with P2P as an integral part. GEP SMART enables enterprises to streamline and automate their end-to-end S2P process including spend management, sourcing, contract management, supplier management, P2P, savings tracking and much more.
Based on the business rules that need to be applied, GEP SMART allows users to easily amend, withdraw or change purchase orders. GEP SMART can be entirely customized to mirror the way your enterprise operates. You can fully incorporate your policies and processes into the software — and GEP’s procurement experts will also help you outline best-practice policies from the ground up.
GEP SMART gives you the flexibility to control rights and permissions for every user — this means that you can permit or restrict users from preparing or approving purchase requests. In addition, you can custom-configure the requisition approval hierarchy according to your organizational structure and reconfigure it as needed at future points.
Yes, you can create a requisition to engage with independent vendors on GEP SMART and then run it through an approval hierarchy prior to processing. However, the usual best practice is to engage with pre-approved vendors to limit off-contract purchasing. Nonetheless, an ad-hoc request can be competitively sourced for best results, because requisitions can also be “sent for bidding” at any given point.
If approvers do not approve or reject requisitions within the stipulated time frame, they will receive system-generated reminders. If they do not respond to these alerts, the requestor can either withdraw and cancel the requisition, or resubmit it after selecting a different approver. GEP SMART procure-to-pay software can also be configured to reroute approvals to other members of that approval pool.
Yes. Workflows on GEP SMART procure-to-pay software can be customized as hierarchical, parallel or pool. This is similar to the way approvals can be configured depending on value, category, geography and business unit. These workflows can then be applied to purchase requisitions and/or purchase orders, and can vary depending on the best fit for the enterprise.
Yes. GEP SMART procure-to-pay software includes comprehensive user roles, which means that the software understands who you are, automates approvals, and populates requisitions and orders with accounting and other codes without any manual intervention.
