GEP provides spend analysis services to leading Fortune 500 and Global 2000 companies worldwide, helping clients identify and realize hundreds of millions in savings every year.
Why do so many leading procurement organizations count on GEP for spend analysis services? Because penetrating, insightful, actionable analysis of spend drives successful sourcing plans. So it’s absolutely critical to get it right.
The fact is, our spend analysis and consulting teams keep score the same way you do — hard dollars and cents, hard pounds and pence, hard euros and … you get the idea, actual savings realized.
The University of Michigan is a large, decentralized organization serving multiple missions — teaching, research, patient care and public service. GEP is helping Michigan be successful by diagnosing our spending patterns and working with us to develop new business processes and practices that will save millions of dollars that can be channeled back to our core missions.
– Sr. Finance Lead, University of Michigan
GEP combines unmatched expertise and experience with state-of-art tools and technology to provide comprehensive spend analysis solutions to your team. And, unlike most firms, we go far beyond recommendations to help you achieve the results we’ve targeted.
Spend data not organized in one neat pile? GEP will cleanse, validate, enrich, classify and report spend data across multiple, disparate systems, generating accurate, actionable information, with item-level visibility across the enterprise.
Using artificial intelligence-based tools, built on proprietary algorithms and field-tested in hundreds of complex engagements, we can power through high volumes of data rapidly with sourcing- and industry-specific taxonomies, achieving classification accuracy of 95 percent, while providing granular insight on spending trends and buying activities.
That's critical to your procurement team's success in streamlining their strategic sourcing plans, reducing maverick spend and realizing substantial cost savings.
Count on GEP
We help our enterprise partners achieve:
- Increased savings from sourcing efforts based on spend analysis
- More total spend under management
- Improved compliance with negotiated agreements
- Shorter sourcing cycles, enabling companies to increase the volume of spend that is strategically sourced
Our team comprises category and commodity experts in local and regional markets — teams with vast knowledge of historical and current market prices. With GEP's spend analysis solutions, enterprises boost their spend visibility at line-item level across categories and business units, and gain capabilities to build comprehensive reports and perform multidimensional analysis. We offer a comprehensive set of services and capabilities that accelerate generation of insights and value:
- Aggregated spend by commodity, supplier and category from disparate sources, languages, currencies
- Artificial Intelligence-based tools and algorithms, sourcing- and industry-specific taxonomies
- Data classification accuracy of more than 95 percent (Segment, Family, Class and Commodity)
- Product specification including quality, availability and service requirements
- Comparison of attributes across suppliers and commodities
- Enhanced vendor normalization and parent-child linkage
- Data enrichment including D&B scores, diversity and sustainability information
- Current contract costs, terms, and conditions
- Understanding of all fixed and variable cost drivers for total cost of ownership
- Strategic sourcing strategies for cost reduction
- Execution by experienced global sourcing teams