Clark, NJ – January 10, 2017 – GEP, a leading provider of procurement services and software to Fortune 500 and Global 2000 enterprises worldwide, announced today that it has signed an agreement to provide outsourced source-to-pay procurement services, as well as SMART by GEP® — its cloud-native, source-to-pay procurement software platform — to Prudential UK & Europe, the leading financial services and insurance company.
GEP will provide a broad spectrum of source-to-pay services to Prudential, including strategic sourcing and sourcing support, category management, supplier relationship management and procurement operations.
At the same time, GEP will also provide Prudential access to its SaaS-based procurement platform to help automate and streamline the overall source-to-pay process. Prudential will eventually utilize the unified platform’s full functionality, including spend analysis, sourcing, contract management, supplier relationship management, procure-to-pay, savings project management and savings tracking capabilities.
“Procurement transformation is a recognised core competence at GEP and we bring the most comprehensive, focused and complete set of solutions — everything from strategy and organisational design to enablement and automation — together in one place to help our clients achieve very rapid and sustainable gains in procurement maturity, effectiveness, and results,” said Jamie Ogilvie-Smals, vice president, GEP Europe. “We are delighted to be working with Prudential on this important transformation initiative, providing a broad range of end-to-end procurement services and software to support this. In the final analysis, procurement transformation is all about increasing business value, and that’s how we will measure the success of this programme.”
Richard Powell, director of procurement and supply chain for Prudential, said: “Prudential is continually looking to drive out more efficiency and apply best practices in managing our suppliers and procurement activities. GEP mirrored our requirements most closely in a highly competitive selection process. We look forward to working together as we embark on transforming our procurement operating model.”
GEP provides its blue-chip client base with a full and complete spectrum of managed sourcing, procurement and supply chain services with operations in major market centres worldwide. The company’s operations in both the United Kingdom and Europe have been expanding markedly over the past three years.
SMART by GEP is a complete unified procurement platform. Offered as Software-as-a-Service (SaaS), SMART by GEP leverages cloud economics to deliver a solution that easily handles the heaviest processing requirements of GEP’s Fortune 500 and Global 2000 clients, while eliminating burdensome infrastructure and support costs.
SMART by GEP provides complete source-to-pay functionality in one user-friendly, cloud-native platform, inclusive of spend analysis, sourcing, contract management, supplier management, procure-to-pay, savings project management and savings tracking, invoicing and other related functionalities. The award-winning, SaaS-based S2P platform is native to touch and mobile technologies, enabling users to work anywhere, any time, on any device.
Prudential is a leading provider of retirement solutions with approximately six million customers in the UK. It is part of Prudential plc, an international financial services group with significant operations in Asia, the US and the UK.
GEP is a diverse, creative team of people passionate about procurement. We invest ourselves entirely in our clients’ success, creating strong collaborative relationships that deliver extraordinary value year after year. We deliver practical, effective procurement services and procurement technology that enable procurement leaders to maximise their impact on business operations, strategy and financial performance.
Honored as Best Supplier at the EPIC Procurement Excellence Awards, GEP regularly wins accolades as both a provider of a broad range of procurement services and innovative procurement software. Among its recent distinctions, GEP has been named Leader and Star Performer in Everest Group’s PEAK Matrix of Procurement Services Providers, Leader in NelsonHall’s NEAT Matrix of Global Procurement BPO Service Providers, Winner in the HfS Blueprint Report on Procurement Outsourcing Providers, Leader in the ALM Vanguard Reports on Procurement and Supply Chain Consulting, as well as one of Spend Matters 50 Companies to Know and to the Supply & Demand Chain Executive 100.
Clark, NJ-based GEP has 12 offices and operations centers in Europe, Asia and the Americas.
For more about SMART by GEP, our cloud-native sourcing and procurement software platform, please visit www.smartbygep.com.To learn more about our comprehensive range of consulting and outsourcing services, please visit www.gep.com.
Global VP, Marketing & Analyst Relations