Effective spend management means managing the end-to-end procurement process — from opportunity to savings realization. It means identifying organizational spend that must be brought under management, building a strategic savings plan, and actively taking control of that spend to drive realized savings.
GEP SMART is a unified, procurement software platform that delivers SMART Source-to-Pay (S2P). SMART S2P offers comprehensive spend management capabilities, including spend analysis, contract management, category management, savings tracking, supplier management, sourcing and procure-to-pay.
Manage More spend
SMART S2P offers powerful spend analysis capabilities, with real-time spend visibility and historical data to establish spend trends and conduct opportunity analysis to identify savings opportunities. Capture actual performance, measure against savings targets, and report it to stakeholders. Flip sourcing events into contracts with a single click, to bring spend under management.
Drive Results that Matter
GEP SMART’s contract management function ensures the hard work put into contracts translates into savings. Supplier management functions can, from day one, build a program of performance measurement, feedback and action plans to realize goals.
The procure-to-pay utility reveals uncontrolled spend through reports and business intelligence. Compliance dashboards show managed and compliant spend, highlighting areas needing management.
Unified Procurement Platform
Spend Analysis
Understand spend quickly and easily. Move from line-item to enterprise-wide with a click. Optimize savings opportunities based on your sourcing strategy
Savings Tracking
Gain real-time visibility into your cost-savings initiatives and their impact. Eliminate redundancy and error from data capture, tracking and measurement
Sourcing
Quickly identify, evaluate and qualify new suppliers. Streamline your RFX-to-award cycle, achieve best-value agreements whenever you source
Contract Management
Reduce the time, effort and paper used to create, manage and monitor contracts. Boost contract utilization and increase spend compliance
Supplier Management
Monitor thousands of suppliers; use scorecards, surveys, alerts, status and summary reports; track, measure and optimize supplier performance
Procure-to-Pay
Boost adoption, increase spend under management with a consumer-like purchasing experience; improve compliance and reduce the req-to-pay cycle time
We use GEP SMART across our 500 business units, providing everyone in procurement and finance full visibility of everything we’re spending, allowing them to search for opportunities.
Scott Hardman
Manager, Spend Analytics & Market Intelligence, ITW
Frequently Asked Questions
GEP SMART is a unified, procurement software platform that delivers SMART Source-to-Pay. SMART S2P delivers end-to-end source-to-pay capabilities, comprising comprehensive spend management tools, such as spend analysis, strategic sourcing, savings tracking, contract management, category management, supplier management, and procure-to-pay. With these spend management tools, SMART S2P enables automation of all sourcing and procurement processes — from sourcing to payment.
GEP SMART spend management platform delivers SMART Source-to-Pay. SMART S2P features a comprehensive sourcing functionality that can help enterprises engage with the right suppliers across spend categories to drive best-value deals aligned with strategic sourcing milestones. Using the e-sourcing function, users can collaborate across offices to evaluate suppliers, author RFPs, streamline RFx-to-award cycles, and execute sourcing events like e-auctions. Once the sourcing process is complete, SMART S2P allows you to quickly convert winning bids to negotiated contracts that buyers can use to make compliant purchases.
With the spend analysis function within SMART Source-to-Pay, GEP SMART users can identify savings opportunities and launch new savings projects. Users can establish estimated spend and savings targets, then define milestones based on when they expect to negotiate and realize those savings. Our spend management system includes a savings tracking functionality that allows users to build, track and manage their savings pipeline by collaborating with team members and stakeholders in real time. Users can also leverage our spend management platform’s savings dashboard, performance benchmarking and savings validation capabilities to manage their spend more effectively.
Yes. With GEP SMART users can manage both direct as well as indirect spend. GEP’s category experts work with you during the configuration of the system to ensure your business processes and use cases for all categories are mapped to the system.
The GEP SMART spend management platform is designed to facilitate intuitive navigation and is simple to use. It enables users to drive significant savings and performance with little or no training required. However, we do provide all training and onboarding support to all new users.
Yes, users can purchase goods based on specific business rules using GEP SMART’s purchasing function. Automated req-to-order processes can be managed through the configuration of multiple variables, such as spend limit, category and business unit, etc. Authorization and approval workflows are completely configurable to your business. Users can also use pre-approved catalogs (in-house or punch-out supplier catalogs) for purchasing. They can compare across different suppliers or lines, fill shopping carts, and place easily trackable purchase orders.
GEP SMART is designed to accommodate even the most complex spend management processes. The platform can be fine-tuned and configured to your spend management workflow.
Yes. GEP SMART can collate spend data from multiple source systems. It goes a step further and enriches it through data cleansing, data classification and data validation processes before presenting it as a single dataset. GEP SMART will also integrate with all your major back-office and ERP systems, bringing your entire spend system together.
Of course. We understand that supplier information, spend data, contract documents and other business-critical, confidential data must always be kept secure. GEP SMART is native to the market-leading Microsoft Azure cloud platform that provides unmatched, multi-layered data security and is a lot safer than any behind-the-firewall software available on the market.
