Source-to-contract (S2C) is the procurement team’s home territory. Covering all the core procurement activities from opportunity assessment, through strategy planning, sourcing and negotiations, and contract origination, S2C is all about setting up the possibility of savings, efficiencies and additional value. Source-to-contract is more than just a process with a beginning and an end at contract signature. The management of the contracts and the supplier relationships are all core activities for procurement and thus S2C is both a process of execution of a project and long-term management of the same.
SMART by GEP’s source-to-contract capabilities are expertly crafted to help you create winning strategies, negotiate the best contract terms and develop a robust supplier relationship. From spend analysis through savings project planning, strategic and tactical sourcing to contract creation and supplier management, SMART by GEP goes above and beyond the scope of other procurement software, enabling procurement professionals to identify and exploit the best opportunities and to implement the best contracts. SMART by GEP spend analysis provides a complete insight into organizational spend, making it easy to identify savings opportunities and create plans. Based on these plans and targets, SMART by GEP simplifies the identification, evaluation and qualification of new suppliers — streamlining the RFx-to-award cycle to achieve best-value agreements whenever you source.
And it doesn’t stop there; SMART by GEP is a single unified software platform allowing you to simply flip winning bids in sourcing events into new contracts at the click of a button, ensuring that the contract is based squarely upon the terms offered, to bring that spend under management. SMART by GEP’s contract management function ensures that all the hard work which goes into negotiating optimal terms is captured in the contract.
The next step of course is driving the value from the contract. This is where SMART by GEP is utterly unique. Beyond the so-called “upstream” procurement activity, SMART by GEP unifies procure-to-pay with source-to-contract, ensuring that the hard-won contracts are utilized to the fullest, with maximum visibility and compliance across the business and the supplier base.