Procurement Cost Savings Validation
Knowing you can save on your spend in a particular category is one thing. How you go about realizing those savings and having them validated by your finance team is something else altogether.
SMART by GEP gives you a complete savings pipeline and tracking tool kit to not only identify potential savings and plan your strategic sourcing projects, but also to execute your savings plans, monitoring activity and compliance throughout their life cycle.
Capturing and recording results against plan is key to achieving the all-important savings realization. SMART by GEP is a collaborative platform that lets you create and manage your strategic savings plans. As you capture the results at each milestone, your stakeholders in the finance department can validate and sign-off on realized savings.
With full, 360-degree visibility of all your savings initiatives, you can monitor the gradual transition from planned to executed to realized and validated savings throughout each project’s life cycle. All your stakeholders in procurement, finance and the enterprise have complete savings visibility on their own dashboards, and can monitor the actual savings performance against plan. Now that’s a smart way to validate your savings.
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.