Closes 2010 with new clients, capabilities and 20 percent revenue growth
Clark, New Jersey
February 14, 2011
GEP, a leader in procurement services and technology, today reported that it ended 2010 with over 20 percent revenue growth over fiscal year 2009 and continues to be profitable for the 9th consecutive year. “Customers chose GEP to help them truly transform their procurement operations to deliver substantial and real savings,” remarked Subhash Makhija, CEO and Co-Founder.
In 2010, GEP signed several new global clients in addition to extending engagements with existing customers. Some of the new well renowned clients include Zions Bank, Northeast Utilities and Wolverine World Wide among several others.
Earlier in 2010, GEP launched a state-of-the-art cloud-based technology solution, GEP Suite 5.0, which delivers enhanced productivity, maximized efficiency and substantial cost reductions for procurement processes. GEP Suite 5.0 provides powerful tools, unrivaled visibility and unmatched simplicity. This fully integrated portfolio of tools helps businesses gain control of the complexities of the procurement process using automation and seamless collaboration.
To support its global delivery capabilities, GEP expanded its India and UK offices with an infrastructure emphasis on Brazil and Mexico.
GEP also launched ProcureBuzz its flagship thought leadership blog, providing readers useful information on procurement best practices, emerging trends and solutions.
For its Strategic Sourcing services, GEP was positioned as a ‘Challenger’ in Gartner’s Magic Quadrant for Strategic Sourcing Application Suites 2010. The firm also received industry recognition in the form of Supply & Demand Chain Executive’s Green Supply Chain Award, NJBIZ Top Technology Consultant Listing, American Business Awards and Supply Chain Executive Magazine 100 Listing. While IAOP selected GEP for its prestigious Global Outsourcing 100 list, client R. J. Reynolds conferred the Most Valuable Partner Award to the firm.
GEP is a procurement services firm dedicated to helping enterprises reduce their costs through procurement and supply chain transformation. More than 120 international clients in twenty different industries rely on GEP for spend analysis, strategic sourcing, category management, as well as procurement outsourcing and technology solutions. Based in Clark, NJ with offices in six countries, GEP has managed over $50billion in spend on behalf of their clients. For more information, go to www.gep.com.
Alison B. Dahlman