Procurement teams spend a lot of time and effort getting their contracts right. Negotiating hard to maximize savings and driving more value is a key role for each category team. Often this part of the procurement process can take up so much time and bandwidth that as soon as a contract is signed and sealed, you’re on to the next one.
But, here’s a common problem. The savings and benefits depend on the supplier’s compliance with the contract, and utilization of the contract by buyers. All the hard work done in getting the contract to the point of signature cannot, by itself, guarantee you the results. Contracts must be monitored, and their compliance and utilization must be reviewed and evaluated on a regular basis. When contracts are filed and forgotten, all that effort in negotiation can go waste. GEP SMART ensures that this doesn’t happen.
Unlike other contract management systems, which serve as little more than contract repositories, GEP SMART is an intelligent contract management solution that tells you what you need to know and what you need to do to keep your savings projects on track.
GEP SMART gives you enterprise-wide contract intelligence, across categories and regions, to see which contracts are performing well, which ones need your attention, and which ones are coming up for renewal. No more searching for historical contracts to confirm that the service you are receiving from a supplier complies with the contract terms. GEP SMART will tell you if something’s amiss.