Savings Opportunity Finder
It’s all very well trawling through the cleansed, classified spend data to look for savings opportunities. But how do you know where to look? We all know that there are different ways in which savings can be realized. Price reduction, demand aggregation, supplier base rationalization – these are all good strategies. But how do you determine which one to use?
GEP SMART really can help. The Opportunity Finder in GEP SMART will search and analyze the spend data for you, guided by your needs. GEP SMART can show you the hotspots where supplier count is seemingly too high for the level of spend, where there are too many different payment terms in a particular category, or where demand can be aggregated to drive more savings.
Not just that, GEP SMART will add all your suppliers’ corporate linkages to your spend data. So, if you are paying different amounts for the same service from different subsidiaries of a parent company, GEP SMART will pick it up and alert you of the opportunity to rationalize pricing.
GET UP-TO-DATE, ACCURATE AND RELIABLE SUPPLIER INFORMATION WITH GEP SMART SUPPLIER MDM
GEP SMART 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.
GEP SMART ’s Supplier Master Data Management tool automatically aggregates, cleans and normalizes supplier data records. It then compares the supplier master data to GEP SMART 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.
GEP SMART ’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.