In spend analysis, taxonomy—the science of naming—is critical. While it’s important to identify spend with detail, the real goal for procurement is driving savings. A good spend taxonomy helps you source more efficiently, aggregate spend with better suppliers, and spot trends within categories relevant to your business.
GEP SMART offers flexibility with taxonomies, whether it’s UNSPSC or a custom one tailored to your needs. With GEP’s expertise, you can even classify data across multiple taxonomies simultaneously.
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.
