Technology

GEP Purchase: Maximized Sourcing Potential

Read transcript below:

GEP Purchase is a one-stop solution for companies looking to solve their Procure-to-Pay challenges. GEP customers rave about our GEP Purchase suite and how it increases spend visibility, enhances compliance across contracts and suppliers and, provides an overall leaner, more efficient process. Each step of the Procure-to-Pay or P2P cycle - Cataloging, Requisition, Purchase Orders, Receiving or Invoicing - is addressed and aimed at being as efficient and user-friendly as possible. For suppliers, the GEP P2P portal offers the opportunity to interact with clients at no cost. They can receive orders, send acknowledgements, shipment notices and invoices through the same easy-to-use interface. By reducing cycle times and eliminating much of the wasteful manual intervention throughout the P2P process, GEP Purchase leads to substantial cost savings.

GEP Purchase

GEP Purchase module is the key to ensuring compliance. The tool helps convert the purchasing application to an “Amazon-like” interface, sorted by categories. This, in turn, encourages stakeholders to buy through the tool from preferred suppliers, instead of searching for parts elsewhere and engaging in agreements offline. The objective is to not only to motivate compliance, but also aids the tracking of spend.

Access GEP Technology solutions using the interactive wheel below.

GEP Suite 5.0 offers full end-to-end procurement solution

Integrated Functionalities: Requisition, Catalogs, and Receipts and Invoices.

Requisition: Automates order generation through an under intuitive module. Key features include:

Requisition automation helping users channel spend through contracted suppliers and terms
Allows flexibility of adding non-catalog items
Approvals can be routed according to internal hierarchy

Catalogs: Supports catalogs that contain pre-negotiated pricing between buyers and vendors. Key features include:

Hosted catalogs: Hosted by the GEP Purchase system locally, they store current item information provided by the vendors. Buyers can search for an item across multiple catalogs and compare prices.
PunchOut catalogs: Hosted at vendors’ sites, with items pulled into internal shopping cart and the requisitions created within GEP Purchase.

Receipts and Invoices: These functions standardize eReceipts, offering improved visibility for tracking and monitoring, while helping track acceptance for liability and commitment purposes. The invoice functionality minimizes effort on manual invoicing and matching. It also provides clear visibility to all invoices against POs, thus improving internal controls and audit processes. The tool also offers flexibility for suppliers and internal users to generate invoices.

Other GEP Suite tools:
GEP Spend, GEP RFx/GEP Auction, GEP Contract, GEP Supplier