Procurement Cost Savings Validation

Knowing you can save on your spend in a particular category is one thing. How you go about realizing those savings and having them validated by your finance team is something else altogether.

GEP SMARTTM gives you a complete savings pipeline and tracking tool kit to not only identify potential savings and plan your strategic sourcing projects, but also to execute your savings plans, monitoring activity and compliance throughout their life cycle.

Capturing and recording results against plan is key to achieving the all-important savings realization. GEP SMART is a collaborative platform that lets you create and manage your strategic savings plans. As you capture the results at each milestone, your stakeholders in the finance department can validate and sign-off on realized savings.

With full, 360-degree visibility of all your savings initiatives, you can monitor the gradual transition from planned to executed to realized and validated savings throughout each project’s life cycle. All your stakeholders in procurement, finance and the enterprise have complete savings visibility on their own dashboards, and can monitor the actual savings performance against plan. Now that’s a smart way to validate your savings.

 

  • Intelligent

  • Intuitive

  • Comprehensive

  • Mobile

  • Cloud-native

  • Best-in-class

  • Powerful

  • Game-changing

SAVINGS TRACKING SOFTWARE

Get a comprehensive overview of your savings pipeline, anytime, anywhere, on any device. GEP SMART allows you to easily build, track and manage your savings pipeline by collaborating with team members and stakeholders in real time.

Initiate new savings projects based on opportunities identified through spend analysis. Ideate and discuss them with colleagues. Define the scope of your savings initiatives. Establish estimated spend and savings targets, then define milestones based on when you expect to negotiate and realize those savings. Create teams, assign resources and roll out new savings projects. Then track them easily as you negotiate and realize savings through the year.

Savings Dashboard

Get complete overview of your savings projects throughout their life cycle, with real-time, enterprise-wide savings visibility for better, more informed business decisions

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Seamless Data Integration

Automatically consolidate data from auctions, RFx and contracts to identify negotiated and realized savings in real time. No need to enter data manually or maintain multiple sheets

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Collaboration Platform

GEP SMART is a cloud-based platform that helps you identify, initiate and launch new savings projects in collaboration with colleagues across functions and locations

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Complete Savings Visibility

Get real-time visibility into all types of savings across the enterprise — cost avoidance, cost reduction, signing bonus, rebate and gain share — with just a few clicks or taps

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Performance Benchmarking

GEP SMART lets you evaluate the performance of all your cost-saving projects across the enterprise by comparing with historical savings data and other savings baselines

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Savings Validation

Capture actual purchase and invoice activity automatically and track performance against targets. Convert projected numbers into realized savings validated by finance

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