Let AI do the heavy lifting Let AI do the heavy lifting

Spend Smarter: The Transformational Power of AI

Taking vast quantities of spend data, from multiple sources, in varying degrees of completeness, and then turning it into a single, coherent whole is no mean feat. The bulk of the heavy lifting in that process is handled by the patented AI engine of GEP SMART. Supported by a complex program of human oversight, industry expertise and a multi-billion record data set, GEP SMART’s advanced AI constantly learns and retrains, looking for exceptions and data that “doesn’t fit”.

Using whatever clues are available in your raw spend data, the advanced AI and machine learning capabilities that power GEP SMART can examine every line of every invoice, looking at every currency unit of spend, and then assign a probability of a certain classification to that spend. If the classification is not obvious enough, GEP SMART looks for matches, classification rules and other hints from the invoice data to see what else can be used to classify the spend.

Simply put, if you can look at the invoice and — with some investigation — classify the spend correctly, then so can GEP SMART's AI-powered spend analysis function. For example, if an invoice from a supplier has only the total amount but that supplier only provides you with steel bearings, then there's very high probability that steel bearings is the correct classification. However, if the supplier sells bearings to one of your business units but provides engineering consultancy to another, a straightforward examination of the business unit to which the invoice was sent can help classify the spend correctly.

With many more layers of complexity and sophistication, this is how GEP SMART’s advanced AI for procurement can learn and build an accurate model of your spend.


Spend Analysis

Advanced AI technology extracts real-time, deep insights from your spend data, enabling you to understand spend quickly and easily and optimize savings opportunities based on your sourcing strategy.

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Savings Tracking

Gain real-time visibility into your cost-savings initiatives and their impact. AI eliminates redundancy and error from data capture, tracking and measurement.

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Advanced AI capabilities can streamline the process of identifying, evaluating and qualifying new suppliers, shortening the RFx-to-award cycle and helping you achieve best-value agreements.

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Contract Management

Generative AI systems reduce the time, effort and paper used to create, manage and monitor contracts, boosting contract utilization and increasing spend compliance.

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Supplier Management

Generative AI helps manage supplier relationships by providing insights to improve negotiations, contract management and dispute resolution, and assist in facilitating collaboration and engagement with suppliers.

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Leverage AI to accelerate adoption, maximize spend under management through an intuitive, conversational purchasing experience, optimize compliance, and reduce the req-to-pay cycle time.

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