Procurement has evolved as a function. It is no longer just a savings-only operation with a focus on bottom line cost management. Over the years, procurement’s focus has expanded to assisting business stakeholders achieve their top-line objectives through strategic category management and supplier innovation.
This means that procurement organizations have to make far more than incremental changes to their operating philosophy and performance, and elevate their role to that of a trusted business advisor — improving business agility, increasing influence and delivering greater value.
Of course, traditional goals such as reducing purchase costs, improving delivery performance and increasing stakeholder satisfaction still continue to be important, but today procurement must also build credibility and align with finance to deliver the results the business demands.
Drive Measurable Results
GEP SMART makes this possible through its powerful and comprehensive savings project management capabilities. With fully configurable, rules-based approval workflows and the ability to capture and track data points unique to your organization, GEP SMART becomes the hub of the collaboration and synergy between procurement and finance teams.
As with every other function, saving project management in GEP SMART is backed by comprehensive savings tracking and reporting capabilities, delivering visibility, dashboards and vital intelligence to your stakeholders across the enterprise. You can launch, execute and manage all your savings projects — from opportunities to realized savings — using GEP SMART’s savings project management function.
GEP SMART has impressive functionality that helps its users achieve rapid ROI.
– PayStream Advisors
THE GEP SMART ADVANTAGE
Validate your identified savings as genuine bottom-line results, track and review their bottom line impact. GEP SMART lets you easily collaborate with finance on approvals with full visibility of progress, results and activity throughout the project
Align with Finance
Build a strong and lasting alignment between procurement and finance with definitions for baseline spend, methodologies, and bottom-line impact on P&L. From cost reduction, rebate programs, sign-on bonuses and the like, get everyone on the same page
Build consistency and clarity in the relationship between procurement and finance through the use of a single reporting mechanism. Eliminate time-consuming, redundant activities, avoiding iteration and reworking of data to validate savings