AI: New Tech Creates New Capabilities

Today, procurement teams are under pressure to deliver more. More savings, yes — but also more in terms of new sources of value, new efficiencies and new insights. Often with no increase in headcount — and certainly without any more hours in the day. With the volume and complexity of so much of procurement’s workload, the time is right for artificial intelligence (AI) to take a share of the burden.

GEP helps enterprise procurement teams harness the power of intelligent automation technologies to streamline and optimize their source-to-pay operations, enabling them to focus their efforts on driving enterprise-wide strategic value, and leaving transactional processes for AI-powered systems to handle.

Harness AI to Streamline Your S2P Processes

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Did You Know?

GEP manages vast volumes of data, representing close to $100 trillion of spend by our clients. The AI engines that power SMART by GEP® — our cloud-native, unified source-to-pay platform — can sort, organize and process hundreds of thousands of transactions every day.

Intelligent Source-to-Pay Automation

GEP is a leader in the innovation of AI capabilities that are designed to execute processes across the full spectrum of source-to-pay operations — from spend analysis and sourcing to purchase order processing and invoice management.

Real Gains with Artificial Intelligence
  • Enhanced Service Delivery: Minimize manual intervention and cycle times
  • Optimized Processes: Expedite processes, increase throughput and boost productivity
  • Enhanced Scalability: Deploy a scalable and flexible virtual workforce at a minimal cost
  • Better Reporting: Gain immediate insight and granular visibility via auto-generated dynamic dashboards
  • Spend Analysis: AI-based spend analysis software can extract real-time, granular insights from your spend data — automatically aggregating, cleansing, classifying, and reporting the data across the enterprise. It actually learns and self-corrects to continuously improve accuracy.
  • Sourcing: As AI learns your sourcing patterns and behaviors, you’ll be able to connect with the best suppliers more quickly and efficiently — while reserving your time and skills for supplier selection, negotiation and real value assessment.
  • Savings: Measuring savings in real time will show procurement’s value to the enterprise. No more negotiation over “percentage realized." GEP’s advanced automation technologies will assess every order and every invoice against your savings plan.
  • Contract and Supplier Management: When a supplier’s performance drifts out of alignment with the contract, the AI-based software can let you, and the supplier, know right away. No number crunching and no time-consuming surveys.
  • Order Processing: When the software knows who you are and what you are permitted to order, your requisition becomes an order and a fulfilled delivery with a single click. Only the most exceptional cases need the professional’s personal attention.

AI is coming of age as one of the main technological drivers of today’s transformed procurement organizations. With AI-enabled analytical power, procurement pros can unlock valuable insights from data and realize unprecedented efficiency and effectiveness throughout the organization.

 

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