GEP has signed an agreement to provide outsourced source-to-pay procurement services, as well as SMART by GEP – its cloud-native, source-to-pay procurement software platform – to Prudential UK & Europe.
GEP will provide a broad spectrum of source-to-pay services to Prudential, including strategic sourcing and sourcing support, category management, supplier relationship management and procurement operations.
At the same time, GEP will also provide Prudential access to its SaaS-based procurement platform to help automate and streamline the overall source-to-pay process. Prudential will eventually use the unified platform's full functionality, including spend analysis, sourcing, contract management, supplier relationship management, procure-to-pay, savings project management and savings tracking capabilities.
"Procurement transformation is a recognised core competence at GEP and we bring the most comprehensive, focused and complete set of solutions – everything from strategy and organisational design to enablement and automation – together in one place to help our clients achieve very rapid and sustainable gains in procurement maturity, effectiveness, and results," says Jamie Ogilvie-Smals (pictured), vice president, GEP Europe. "We are delighted to be working with Prudential on this important transformation initiative, providing a broad range of end-to-end procurement services and software to support this. In the final analysis, procurement transformation is all about increasing business value, and that's how we will measure the success of this programme."
Richard Powell, director of procurement and supply chain for Prudential, says: "Prudential is continually looking to drive out more efficiency and apply best practices in managing our suppliers and procurement activities. GEP mirrored our requirements most closely in a highly competitive selection process. We look forward to working together as we embark on transforming our procurement operating model."
GEP provides its blue-chip client base with a full and complete spectrum of managed sourcing, procurement and supply chain services with operations in major market centres worldwide. The company's operations in both the UK and Europe have been expanding over the past three years.
SMART by GEP is a complete unified procurement platform. Offered as Software-as-a-Service (SaaS), SMART by GEP leverages cloud economics to deliver a solution that easily handles the heaviest processing requirements of GEP's Fortune 500 and Global 2000 clients, while eliminating burdensome infrastructure and support costs.