Data Consolidation and Analysis
Spend analysis involves gathering and organizing your enterprise's spending data from various sources. This data is cleaned, standardized, and categorized to provide clear insights into purchasing patterns. Spend analytics tools, like GEP SMART™, use AI to process large amounts of data efficiently and accurately. By understanding your spending trends, you can identify opportunities for savings and improve your procurement strategy.
The Benefits of Spend Analytics
- Validate and classify data for accurate analysis and reports
- Remove duplicate orders and payments, spot price discrepancies
- Enhance supplier relationship management
- Drive transformation in your procurement strategy
- Reduce risk and increase cost-saving opportunities
Unified Procurement Platform
Spend Analysis
Advanced AI technology extracts real-time, deep insights from your spend data, enabling you to understand spend quickly and easily and optimize savings opportunities based on your sourcing strategy.
Savings Tracking
Gain real-time visibility into your cost-savings initiatives and their impact. AI eliminates redundancy and error from data capture, tracking and measurement.
Sourcing
Advanced AI capabilities can streamline the process of identifying, evaluating and qualifying new suppliers, shortening the RFx-to-award cycle and helping you achieve best-value agreements.
Contract Management
Generative AI systems reduce the time, effort and paper used to create, manage and monitor contracts, boosting contract utilization and increasing spend compliance.
Supplier Management
Generative AI enhances supplier relationships by offering insights to improve negotiations, contract management and dispute resolution, while also facilitating collaboration and engagement with suppliers.
Procure-to-Pay
Leverage AI to accelerate adoption, maximize spend under management through an intuitive, conversational purchasing experience, optimize compliance, and reduce the req-to-pay cycle time.
