Sourcing Software Solutions
The success of any procurement organization depends on how effectively it can execute on its sourcing strategies. But with hundreds of different categories and thousands of lines to manage, achieving best-value sourcing can be difficult.
SMART by GEP makes it easy to find the right suppliers for your business through best-in-class, easy-to-use and intuitive sourcing tools. Collaborate across offices and geographies with colleagues to evaluate suppliers, author new RFPs and award contracts. Leverage the full potential of supply markets and maximize the value of your spend by increasing competition for your business.
SMART by GEP® features the most powerful and effective set of management sourcing tools available to enterprise procurement teams today. Leverage sourcing best practices, streamline and automate on one unified sourcing and procurement platform native to cloud, mobile and touch technologies. Drive more competition for your business. Manage risk and maximize value for money. SMART by GEP helps you realize and sustain long-term savings.
See What You Can Do
Create online sourcing events with just a few clicks, based on your sourcing strategy
Seamlessly run multiple auction lots concurrently or in sequence, depending on your business needs
“Flip” a sourcing event into a contract and then turn it into an award directly by working with your suppliers
In-platform analytics automatically trigger sourcing waves; contract templates speed up supplier agreements
Cut an average of 40% from RFx-to-Auction cycle times; reduce manual paperwork and eliminate processing errors
Standardize on documented, repeatable best-practice processes to drive best-value sourcing, always
Why SMART by GEP
SMART by GEP Sourcing can be used as a standalone application or as part of the SMART by GEP unified procurement platform, alongside Spend Analysis, Contract Management, category management, Supplier Management, Procure-to-Pay, and other functions.
Opportunities identified in SMART by GEP's Spend Analysis function can be transformed into strategic savings projects in SMART by GEP’s Savings function. By connecting the sourcing events to the savings projects, SMART by GEP allows you to identify where the savings will come from and track them through contract negotiation and ultimately to purchase order.
SMART by GEP does all of this because it is one unified procurement platform. The best-practice templates for projects, sourcing events, contracts, and more are based on GEP’s global procurement expertise. So, far from being just another strategic sourcing tool, SMART by GEP is where sourcing forms a critical link in the chain — from savings opportunities to realized savings.
"The flexibility of the solutions is a real advantage for us because our sourcing initiative will continue to evolve and we believe that GEP's procurement technology can accommodate these changes."
- Vice President of Strategic Sourcing at Starwood Hotels and Resorts
"The product name, SMART by GEP sums up its approach: using software to help customers’ employees make better, faster buying decisions. GEP is a good option for large multinationals that want intelligent procurement software for both upstream and downstream, in a single, cost-effective ePurchasing suite."
- Forrester Research
SMART by GEP’s sourcing function can help enterprises engage with the right suppliers across major categories to drive best-value deals aligned with strategic sourcing milestones. SMART by GEP’s e-sourcing function can be used to collaborate across offices to evaluate suppliers, author RFPs, streamline RFx-to-award cycles, and execute sourcing events like e-auctions. SMART by GEP, being a unified procurement software, can enable the automation of transforming winning bids to contracts and can initiate the contract management and supplier management processes once the sourcing process is complete.
SMART by GEP is a unified, cloud-native procurement platform capable of automating not just your sourcing operations but your complete source-to-pay (S2P) cycle – from spend analysis to accounts payable and savings tracking. Customers do not have to subscribe to the entire platform or just be limited to single-function, stand-alone applications that you might find in on-premises software. Choosing SMART by GEP means can you can take advantage of every function of the unified procurement platform or just the ones you need for your organization right now.
As SMART by GEP is a cloud-native procurement platform, implementation is all about configuring the software for your specific requirements. The time required for this varies with each deployment and largely depends on the number of users, geographical locations and the number of suppliers that need to be configured in the software. Customers can go live and host sourcing events on SMART by GEP in just a few weeks.
Of course. SMART by GEP is designed to align with your strategic sourcing process and allow you to compare different suppliers, their proposals and any criteria that you determine as part of your selection process. In fact, in SMART by GEP, your supplier database and your sourcing database are one and the same – allowing you access to detailed supplier profiles, scorecards and past performance data throughout the sourcing process. Users can search and analyze the supplier database before including a supplier in a sourcing event or even add new suppliers to their RFx.
SMART by GEP optimizes the RFP process by storing every RFX in a central repository – users can turn successful RFPs into best-practices templates for future use instead of creating RFPs from scratch. They can even select individual criteria from past events for inclusion in new ones. SMART by GEP’s sourcing function allows collaborative RFP authoring configured to your team’s workflow with the flexibility to delegate responsibilities on a case-by-case basis when publishing a new request for proposal (RFP) or running an auction.
Yes. Using SMART by GEP, customers can host online or e-auctions and enable real-time bidding supported by different lotting strategies, extension rules, safety nets, and other advanced features of the software that allow complete control over the auction. Event managers using SMART by GEP can pre-qualify suppliers for participation in auctions by leveraging the in-built supplier information management function and following a series of automated processes.
Yes. Following deployment of SMART by GEP, the supplier onboarding phase is initiated to link suppliers to the procurement platform. We also assist you in creating RFXs and running auctions until you are comfortable doing it on your own. The software is designed to allow intuitive navigation, but for processes in which you need assistance, our experts will be available to help you achieve what you want.
When selecting suppliers for your sourcing event, you can either pick them from your supplier database or onboard new suppliers through your predefined supplier registration, enrolment and categorization process. These suppliers can connect to the sourcing event through SMART by GEP’s supplier portal.
Yes. SMART by GEP’s sourcing dashboard gives you comprehensive, real-time visibility of all your sourcing events — RFIs, RFPs, RFQs, and auctions — across the enterprise. This sourcing dashboard also lets you drill down, filter and select the parameters that you need to see to optimize your process or achieve cost-reduction. You can also create and share reports, graph or chart you need using SMART by GEP’s reporting function. In fact, being a cloud-based platform, SMART by GEP also offers the inherent benefit of being accessible anytime, anywhere and on any device.