Effective spend management means managing the end-to-end procurement process — from opportunity to savings realization. It means identifying organizational spend that must be brought under management, building a strategic savings plan, and actively taking control of that spend to drive realized savings.
GEP SMART is a unified procurement software platform that delivers comprehensive spend management capabilities, including spend analysis, contract management, category management, savings tracking, supplier management, sourcing and procure-to-pay.
AI-Powered Spend Management Platform
Spend Analysis
Understand spend quickly and easily. Move from line item to enterprise-wide with a click. Optimize savings opportunities based on your sourcing strategy.
Savings Tracking
Gain real-time visibility into your cost-saving initiatives and their impact. Eliminate redundancy and errors in data capture, tracking and measurement.
Sourcing
Identify, evaluate and qualify new suppliers quickly. Streamline your RFX-to-award cycle and achieve best-value agreements every time you source.
Contract Management
Reduce the time, effort and paper needed to create, manage and monitor contracts. Boost contract utilization and increase spend compliance.
Supplier Management
Monitor and manage thousands of suppliers with scorecards, surveys, alerts, status and summary reports. Track, measure and optimize supplier performance.
Procure-to-Pay
Boost adoption and increase spend under management with a consumer-like purchasing experience. Improve compliance and reduce the requisition-to-pay cycle time.
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Frequently Asked Questions
GEP SMART is a unified, procurement software platform with end-to-end source-to-pay (S2P) capabilities, comprising comprehensive spend management tools, such as spend analysis, strategic sourcing, savings tracking, contract management, category management, supplier management, and procure-to-pay. With these spend management tools, GEP SMART automates all sourcing and procurement processes – from sourcing to payment.
GEP SMART spend management platform features a comprehensive sourcing functionality that can help enterprises engage with the right suppliers across spend categories to drive best-value deals aligned with strategic sourcing milestones. Using the e-sourcing function, users can collaborate across offices to evaluate suppliers, author RFPs, streamline RFx-to-award cycles, and execute sourcing events like e-auctions. Once the sourcing process is complete, GEP SMART allows you to quickly convert winning bids to negotiated contracts that buyers can use to make compliant purchases.
GEP SMART’s spend analysis function helps users identify savings opportunities and launch new savings projects. Users can establish estimated spend and savings targets, then define milestones based on when they expect to negotiate and realize those savings. Our spend management system includes a savings tracking functionality that allows users to build, track and manage their savings pipeline by collaborating with team members and stakeholders in real time. Users can also leverage our spend management platform’s savings dashboard, performance benchmarking and savings validation capabilities to manage their spend more effectively.
Yes. With GEP SMART users can manage both direct as well as indirect spend. GEP’s category experts work with you during the configuration of the system to ensure your business processes and use cases for all categories are mapped to the system.
The GEP SMART spend management platform is designed to facilitate intuitive navigation and is simple to use. It enables users to drive significant savings and performance with little or no training required. However, we do provide all training and onboarding support to all new users.
Yes, users can purchase goods based on specific business rules through the GEP SMART’s purchasing function. Automated req-to-order processes can be managed through the configuration of multiple variables, such as spend limit, category and business unit, etc. Authorization and approval workflows are completely configurable to your business. Users can also use pre-approved catalogs (in-house or punch-out supplier catalogs) for purchasing. They can compare across different suppliers or lines, fill shopping carts, and place easily trackable purchase orders.
GEP SMART is designed to accommodate even the most complex spend management processes. The platform can be fine-tuned and configured to your spend management workflow.
Yes. GEP SMART can collate spend data from multiple source systems. It goes a step further and enriches it through data cleansing, data classification and data validation processes before presenting it as a single dataset. GEP SMART will also integrate with all your major back-office and ERP systems, bringing your entire spend system together.
Of course. We understand that supplier information, spend data, contract documents and other business-critical, confidential data must always be kept secure. GEP SMART is native to the market-leading Microsoft Azure cloud platform that provides unmatched, multi-layered data security and is a lot safer than any behind-the-firewall software available on the market.
GEP SMART spend management software features powerful spend analysis functionality, offering real-time spend visibility along with historical data to help you establish spend trends and conduct opportunity analysis to identify savings opportunities. But it doesn’t end there — GEP SMART turns potential savings opportunities into structured savings projects, with clearly defined milestones and performance metrics.
GEP SMART’s sourcing tools help you do more than just publishing RFPs and running auctions. Each sourcing event is a milestone linked to your savings projects. At the end of every sourcing event, you can capture actual performance, measure against savings targets, and then report it to all the stakeholders.
GEP SMART helps bring more spend under management by helping you convert sourcing events into contracts at the click of a button. This ensures that the final contracts accurately reflect the terms and conditions agreed upon during the sourcing process, preventing any discrepancies or misunderstandings. By streamlining this step, GEP SMART helps organizations to quickly and efficiently turn their procurement efforts into tangible cost savings.
