Compliance Tracking and Reporting
You’ve just negotiated a new deal for all your office supplies, globally. With excellent pricing and same-day service delivery. The potential for across-the-board savings is terrific. But that’s all it is, a potential. Ensuring that those savings are actually realized is a different thing altogether. Perhaps, the pricing is dependent upon a certain minimum spend level across the world, or from each region separately.
Perhaps, the supplier was overly optimistic in claiming to be able to offer same-day delivery at those prices. In either case, the savings and benefits might turn out to be different from what you had first envisaged. That’s where SMART by GEP comes in — with comprehensive tracking and reporting for contract compliance and contract utilization.
With the contract at the heart of the source-to-pay process, you can track your purchase orders against the contract and report on price or other variances between contract and invoice. So far so good. With supplier performance analysis, you can report on delivery turnaround times — contracted versus actual. So you’ll know if same-day service is really same day. But how do you know whether the contract is being utilized by your buyers to full effect? How do you know if there’s a lot of maverick, non-contractual spend?
That’s where SMART by GEP comes into its own.With spend analysis, sourcing, contract management, supplier management and purchasing functionality in one unified source-to-pay procurement solution, you can identify immediately who is buying what, from where, from which suppliers, at what price, and know instantly whether you contract is being underutilized or even ignored by your buyers. Smart, isn’t it?
GET UP-TO-DATE, ACCURATE AND RELIABLE SUPPLIER INFORMATION WITH SMART BY GEP SUPPLIER MDM
SMART by GEP integrates seamlessly with existing enterprise systems — ERPs, SRMs or sourcing tools — to create new supplier records and update transactions. Supplier master data is validated and cleansed automatically while loading.
SMART by GEP’s Supplier Master Data Management tool automatically aggregates, cleans and normalizes supplier data records. It then compares the supplier master data to SMART by GEP's Vendor Master for verification and quality assurance.
Supplier MDM processes data in batch and real-time cadences. Real-time services execute at point of entry, record creation and updates. Batch services execute against existing supplier records during migration and initial integration.
Review actions taken by the Supplier MDM tool ensure enterprises have a single, trusted source of truth for all supplier data. Users can centrally govern master data using configurable business rules, enabled processes and workflows.
SMART by GEP’s vendor master acts as a trustworthy primary source for the master data records of every supplier in the enterprise. This ensures that the supplier risk and performance modules are consistently stocked with accurate vendor data.
Supplier MDM removes, duplicates and enriches records with verified updates, ensuring accurate and up-to-date data. It also provides holistic visibility into supplier history and performance across operating units, time, and geography.