What is SMART by GEP?
Industry Specialties: Serves procurement industries
Benefits and Insights
Key differentiators & advantages of SMART by GEP
- Leverage Powerful AI: SMART by GEP’s unified procurement platform provides blended AI capabilities to get the most out of your processes. Spend analytics can extract granular insights from spending data in real-time and also has self-learning and correction capabilities. AI also helps users reach out to the right suppliers by learning sourcing patterns and other behaviors.
- Enhance Spend Analysis: This system cleans, validates, classifies and reports spend data from all included sources for clear and powerful visibility across the business. Source mapping lets users map data from systems, vendors, locations and more to create a spend analysis framework. The Opportunity Finder feature lets users search and analyze spend data for opportunities to cut costs and more.
- Improve Savings Tracking: Included tools help build, track and manage savings pipelines through collaborating with stakeholders and team members. Users can plan and roll out discrete projects while defining their scope and setting savings targets for each. Performance benchmarking identifies seasonal purchasing trends and regional variances while comparing actual performance against previous projects. Savings validation and visibility tools give users an in-depth look at cost avoidance, cost reduction, signing bonuses and more.
- Optimize Sourcing: SMART by GEP includes a set of features focused on finding the right suppliers through included sourcing tools. Users can leverage automation of sourcing and procurement tasks to further cut costs and reduce employee time spent on tedious processes.
- Experience Cloud-Based Benefits: SMART by GEP’s cloud-based deployment conveys numerous benefits to clients. The cloud provides increased storage opportunities, a collaborative environment to store and recall data, safe document storage, and real-time updates to the system, all without slowing down daily tasks.
- Contract Management: This feature provides integration and collaboration between sales, legal, procurement and stakeholder teams across a contract. Notifications can be set up to alert stakeholders or other parties of changes to contracts. Compliance tracking and reporting tools ensure contract compliance and can track purchase orders against a contract to discover inconsistencies.
- Supplier Management: Users can gain real-time insight into supplier information and performance. Users can also audit supplier performance with qualitative and quantitative scorecards and targeted surveys. An included supplier portal lets suppliers update their profiles and respond to questions or surveys.
- Procure-to-Pay (P2P) Process: SMART by GEP combines the order-to-invoice and source-to-contract processes, which helps connect orders to contracts and plans. Users can search invoices with multiple languages, tax regime and invoicing rule support.
- BOM Management: This platform contains features that let users create, update and manage bills of materials from multiple levels. Increased visibility and a real-time view of all BOM items allow multiple users to work on the sourcing and procurement related to these items.
- Quality Management: Direct procurement tools let users establish control measures and production standards to help collaborate with suppliers on sourcing and production accuracy.
- Invoice Management: Automated invoicing tools can handle invoice validation, matching and reconciliation while letting the business digitize its paper invoices and feeding them into the system. Suppliers can submit invoices through EDI connections or through the SMART by GEP supplier portal. The solution stores all data from contracts, purchase orders, invoices, payments and more for quick recall later.
- Data Management: This module aggregates and cleanses spend data to aid in spend analysis conduction. Users can track savings by consolidating data from auctions, RFx and contracts to identify any negotiated or realized savings in real-time. Users can capture supplier information across all procurement tasks such as planning, sourcing and contracting.
SMART by GEP Suite Support
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Pricing for Supply Chain Management Software
SMART by GEP has given us control that allows for much stronger conversation in driving bottom-line savings, value from suppliers, and risk management ... It's a key enabler to our transformation. Partnering with GEP has helped us triple our saving volumes.