"We use SMART by GEP across our 500 business units, providing everyone in procurement and finance full visibility of everything we’re spending, allowing them to search for opportunities."
– Scott Hardiman, Manager, Spend Analytics & Market Intelligence, ITW
SMART by GEP is a unified, procurement software platform with end-to-end source-to-pay (S2P) capabilities, comprising comprehensive spend management tools, such as spend analysis, strategic sourcing, savings tracking, contract management, category management, supplier management, and procure-to-pay. With these spend management tools, SMART by GEP automates all sourcing and procurement processes – from sourcing to payment.
SMART by GEP spend management platform features a comprehensive sourcing functionality that can help enterprises engage with the right suppliers across spend categories to drive best-value deals aligned with strategic sourcing milestones. Using the e-sourcing function, users can collaborate across offices to evaluate suppliers, author RFPs, streamline RFx-to-award cycles, and execute sourcing events like e-auctions. Once the sourcing process is complete, SMART by GEP allows you to quickly convert winning bids to negotiated contracts that buyers can use to make compliant purchases.
SMART by GEP’s spend analysis function helps users identify savings opportunities and launch new savings projects. Users can establish estimated spend and savings targets, then define milestones based on when they expect to negotiate and realize those savings. Our spend management system includes a savings tracking functionality that allows users to build, track and manage their savings pipeline by collaborating with team members and stakeholders in real time. Users can also leverage our spend management platform’s savings dashboard, performance benchmarking and savings validation capabilities to manage their spend more effectively.
Yes. With SMART by GEP users can manage both direct as well as indirect spend. GEP’s category experts work with you during the configuration of the system to ensure your business processes and use cases for all categories are mapped to the system.
The SMART by GEP spend management platform is designed to facilitate intuitive navigation and is simple to use. It enables users to drive significant savings and performance with little or no training required. However, we do provide all training and onboarding support to all new users.
Yes, users can purchase goods based on specific business rules through the SMART by GEP’s purchasing function. Automated req-to-order processes can be managed through the configuration of multiple variables, such as spend limit, category and business unit, etc. Authorization and approval workflows are completely configurable to your business. Users can also use pre-approved catalogs (in-house or punch-out supplier catalogs) for purchasing. They can compare across different suppliers or lines, fill shopping carts, and place easily trackable purchase orders.
SMART by GEP is designed to accommodate even the most complex spend management processes. The platform can be fine-tuned and configured to your spend management workflow.
Yes. SMART by GEP can collate spend data from multiple source systems. It goes a step further and enriches it through data cleansing, data classification and data validation processes before presenting it as a single dataset. SMART by GEP will also integrate with all your major back-office and ERP systems, bringing your entire spend system together.
Of course. We understand that supplier information, spend data, contract documents and other business-critical, confidential data must always be kept secure. SMART by GEP is native to the market-leading Microsoft Azure cloud platform that provides unmatched, multi-layered data security and is a lot safer than any behind-the-firewall software available on the market.