My company has multiple savings projects running simultaneously. Can I track all of them with GEP SMART?

Yes. With GEP SMART, each and every savings project can be tracked and monitored. The software puts together all the information you need in a single, intuitive interface and presents it in an easy-to-interpret format. So whether you are running one cost saving initiative or thousands of them, you can monitor their progress in real-time and gain granular visibility to drive each project from planning to realization.

What types of savings can I track and capture using the GEP SMART savings tracking function?

Every type. Be it cost avoidance, cost reduction, signing bonus, rebates or gain share – with GEP SMART’s savings tracking function, you can track, monitor and capture real-time information on every type of saving initiative across the enterprise.

Can I have a separate savings project for each category or item?

Yes. With GEP SMART, you can not only have separate savings projects for each category or item, but also have savings projects for regions, or business units, each with similar or unique permutations of strategy, scope and scale.

What information does the savings dashboard provide? Can it be configured to show specific savings data that I need?

Your strategic sourcing events, contracts, suppliers, and purchase orders are all linked to your savings projects, and GEP SMART’s savings dashboard gives you complete visibility of all your savings projects, across the enterprise. From a comprehensive overview of your savings projects, you can dive deeper to gain insights into any particular set of savings project or individual savings projects. The software also calculates and informs you about the projected savings to help you make corrective changes if needed. The GEP SMART savings dashboard can also be customized to display specific savings data every time you visit the dashboard.

How can I share savings reports with the finance team and other stakeholders in the company?

All your stakeholders in procurement, finance and the enterprise have complete savings visibility on their own dashboards, and can monitor the actual savings performance against plan. With GEP SMART’s advanced analytical reporting capabilities, you can also create specific reports, graphs and charts, etc. with information that suits your requirement and then publish them to your team and other stakeholders.

How does the savings tracking function help with my strategic sourcing events?

GEP SMART lets you identify seasonal purchasing trends, regional variances and long-term growth in category spend, and benchmark your actual performance against previous savings projects. Based on these inputs, you can identify opportunities and launch new strategic sourcing events. GEP SMART’s savings tracking tool goes a step further and helps you understand whether your strategic sourcing plan and the contracts you sign are aligned with your savings goals – it gives you insights on your past spend, suppliers engaged and potential savings opportunities. The software also verifies if ongoing purchases are in compliance with the contracts you’ve negotiated and also identifies any maverick spend that can be rationalized.

Do I have to update the data every time a new contract is signed or a new purchase is made?

No. You don’t need to enter data manually. GEP SMART enables automated savings tracking – your strategic sourcing events, contracts, suppliers, and purchase orders are all linked to your savings projects. So data from auctions, RFx and contracts are automatically consolidated to identify negotiated and realized savings in real time.

How does the savings approval process work in GEP SMART?

GEP SMART’s savings tracking tool captures purchase data and processes invoice information to track the performance of savings initiatives against targets at each savings milestone. Using this information, projected numbers are converted into realized savings which then can validated by the stakeholders in the finance department.

Procurement Outsourcing Services | Managed Procurement Services & Outsourcing Firm

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In the real world, we’ve found that clients don’t have cookie-cutter issues, so we don’t use one when helping them meet their procurement objectives.

GEP provides clients a flexible set of procurement outsourcing options, custom configured to meet their specific needs. From end-to-end procurement outsourcing to point solutions like category management, strategic sourcing and procurement operations, we get you more bang for your buck.

Beyond the capabilities of traditional procurement outsourcing providers, GEP delivers outstanding results by bringing together the most comprehensive procurement services portfolio in the industry, innovative cloud-based software, global operations capabilities and tailored solutions, GEP as a procurement outsourcing service provider can deliver impressive results:

Accelerated time to value
Increased spend visibility
Improved compliance and transparency
Improved user experience
Reduced operational costs

benefits of procurement outsourcing

GEP has consistently been a leading service provider in the move to procurement as-a-service. With a strong vision for the future of procurement, paired with deep procurement knowledge and capabilities, and a comprehensive procurement software platform, GEP delivers transformational procurement value to clients across the world.
– HfS Research

Solutions Tailored to Your Needs

As one of the leading procurement service providers, GEP offers point solutions, integrated services and end-to-end procurement outsourcing. Together, we can build the best approach to suit your specific strategic, operational and financial objectives.

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Scalable, Best-in-Class Infrastructure

GEP’s integrated procurement BPO services reside on a solid infrastructure consisting of powerful technology, skilled talent, global operations, and industry and category expertise.

Technology
People
Global Delivery
Category Expertise

Technology

GEP is the only leading indirect procurement BPO provider offering end-to-end procurement outsourcing services, backed by a powerful proprietary set of tools and technologies — GEP SMART^TM.

GEP SMART is a comprehensive, cloud-based eProcurement platform that streamlines and automates the entire source-to-pay workflow, including spend analysis, savings tracking, sourcing, contract management, supplier performance management and procure-to-pay.

People

Extraordinary outcomes are achieved by extraordinary people. Time and again, our clients tell us that the passion, energy and commitment to results that GEP professionals demonstrate every day makes all the difference.

GEP scours the best schools across Europe, Asia and the Americas for outstanding business talent. We attract many accomplished pros from top global enterprises, leading academic institutions and blue-chip consultancies. And while GEP people are diverse in background and experience, they are united by a passionate pursuit of excellence. We get results. Period.

Global Delivery

GEP has pioneered a global operations model for delivering strategic sourcing and other high-value procurement business process outsourcing services. With offices and operations centers across Europe, Asia and the Americas, we bring local market knowledge, global expertise and global economics to bear on your procurement objectives.

Using our unique GRID^TM (Global Regional Integrated Delivery) operating model, we leverage the capabilities, unique knowledge and relationships of GEP employees around the world – whether located on a client site, a regional or local office, or a global operations center. Our delivery network is supported by best-in-class analytical tools, a rich knowledge base and an SME network around the globe to deliver consistently high value to our clients.

Category Expertise

In procurement, expertise drives insight and insight drives value.

At GEP, we have hundreds of experienced category specialists in the field and many more in our extended SME network. Working with dedicated market intelligence and analytics teams, our sourcing teams manage more than $200 billion in spend annually for clients.

Their domain knowledge and subject matter expertise extends to hundreds of discrete categories of products and services across most direct and indirect, MRO and CAPEX categories. At the same time, they receive timely intelligence from local and regional teams on the ground, when and where they need it.

All this is backed by proprietary databases of suppliers, specs and transactional histories, as well as some of the most powerful, most effective analytical, sourcing and supplier performance management tools in the industry. Learn more about category expertise at GEP.

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