At any given moment, significant amounts of business capital are trapped inside your company’s procure-to-pay cycle.
Transaction management services from GEP help get that working capital back into your hands faster, for far more productive uses.
How? Reducing cost per transaction, eliminating order and invoice errors, optimizing payment terms, maintaining data quality and automating manual tasks — all these free up surprisingly substantial amounts of working capital.
And unlike generic, back-office processing, our transaction management outsourcing services are configured with sourcing and procurement in mind ― so we understand and address things that matter, for instance, category-specific nuances.
We process more than 10 million purchasing transactions for clients on an annual basis.
Our services include requisitioning and governance, PO processing, tracking and expediting, dispute resolution, invoice processing (including two- and three-way match), account reconciliation, T&E processing and several other category-specific activities.
With offices and operations centers in Europe, Asia and the Americas, we provide 24x7 support to a rapidly multiplying roster of Fortune 500 and Global 2000 clients around the world. Repeatedly honored for operational excellence and data security, GEP’s facilities are strategically distributed; they process several thousands of orders every day and are purpose-built to scale with client requirements quickly and easily.
Trained on all mainstream ERP systems, our P2P teams are a scalable, quality alternative to in-house transaction processing teams, with far more attractive economics.
Many procurement teams struggle to bring the tail-end of their spend under management.
In dollar terms, tail-spend can run into hundreds of millions of dollars at a large company, so the potential savings are often quite significant.
Frequently, tail-spend is, and should be, addressed in a methodical, iterative process (learn more about tail-spend management); but nearly always, there are some purchases inherently tactical in nature that require a different approach.
GEP provides a highly effective "buying desk" to extract value from each purchase at the point of requisition. Our teams use a variety of tools and methodologies to balance cost savings and business criticality for every purchase.
Additionally, we help reduce maverick spend by implementing online and punch-out catalogs, P-cards and improved compliance reporting. Cloud-native SMART by GEP® provides a ready, user-friendly platform to easily implement catalogs and provide a delightful buying experience to end users.
We leverage the patented, AI-based analytics of our cloud-based procurement platform, SMART by GEP, to automate data management and provide intelligent reporting on demand.
Supplier Data Management
- Supplier master cleanup, including supplier name normalization, duplicate removal, aligning master to product taxonomy and parent-child relationships
- Supplier master enrichment, including D&B, W9, minority and other third-party information
- Supplier enablement, aligning suppliers to drive controlled spend under management through supplier registration, catalog enablement and supplier portal management
- Supplier registration, including supplier segmentation, qualification and rationalization of the supplier base
- Supplier portal development and ongoing management
- Supplier performance data management and analysis
- Supplier enablement services, including onboarding and electronic invoicing enablement
Master Data Management
Item master and other master data management activities include:
- Taxonomy and specification development
- Item cleansing, duplication removal and classification
- Attribute extraction and standardization
- Short and long text generation
- Periodic incremental cleansing
GEP helps category managers effectively manage existing contracts and improve compliance. Specific activities include:
- Contract repository management
- Contract digitization and uploading
- Metadata entry
- Renewals and rebates tracking
- Contract compliance tracking
SMART by GEP's contract management tool simplifies and automates the entire contracting and contract administration process.
Learn more about contract management with SMART by GEP.
With unrivaled experience in implementing catalogs in numerous indirect and direct categories, GEP helps clients reduce transaction costs, reduce maverick spend and provide a delightful shopping experience to end users.
- Identifying catalog implementation opportunities across categories and suppliers
- Catalog design, including taxonomy, attributes and workflow
- Catalog implementation and integration with ERP systems
- Receiving, updating and validating catalog content
- Catalog normalization, cleansing and establishing service schedules
- Resolving exceptions and working with suppliers to resolve issues
SMART by GEP's comprehensive procure-to-pay functionality significantly automates catalog implementation and management, while providing an Amazon-like experience to shoppers. Learn more about catalog management with SMART by GEP.
Day-to-day P-card management activities including:
- Receiving, auditing, validating and consolidating P-card statements
- Analyzing P-card transaction data for sourcing opportunities
- User database, attributes and policy management
- Compliance reporting
Our help desk services provide high-quality service and support to your requisitioners, buyers and suppliers, resolving purchase-related issues, assisting with eProcurement tools or answering any and all procurement-related queries.
Our help desk team integrates with your enterprise team and your suppliers to ensure quick, effective routing and resolution. With capabilities in more than 18 languages, we provide 24x7 support to all major world markets.
The seasoned professionals on our help desks are some of the most talented, most highly trained overachievers at GEP; what’s more, they are supported by a powerful set of cutting-edge technologies, such as state-of-the-art ticketing, tracking and knowledge management systems.
Leveraging process expertise, unmatched experience, and state-of-the-art automation and analytics technologies, we’ll help you improve working capital ratios rapidly, reduce overall transaction costs and get actionable insights from your data, all while improving the buying experience for your end users.
Learn more about GEP's transaction management services. Contact us today.