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?