GEP SMART’s Contract Lifecycle Management (CLM) Software Solution Named A Leader By Regarded Independent Research Firm
GEP, a leading provider of procurement and supply chain strategy, software and managed services to Fortune 500 and Global 2000 enterprises worldwide, announced that its GEP SMART Contract Lifecycle Management (CLM), providing enterprise wide contract management capabilities from initial request all the way through monitoring and analysis of performance, has been named a “Leader” by the highly regarded report, The Forrester Wave Contract Lifecycle Management for Buy-Side Contract Suites, Q4 2021. The Forrester Wave is the fourth firm in the last few months to name GEP’s CLM solution as a leader.
According to the Forrester report, “Unlike the other vendors in this Wave, GEP [SMART CLM] also offers extensive contract and procurement consulting and business process outsourcing services. Historically, it has focused on large, global organizations, but it recognizes that the full-suite solution to midmarket customers may prove too complex and is now casting a wider net, with a new simplified/streamlined CLM solution complete with strategy, software, and managed services. … Its vision for GEP software is to help enterprise customers capitalize on and accelerate the ROI of digital transformation efforts.”
The comprehensive assessment gave GEP SOFTWARE the highest score possible in the source-to-contract architecture, vendor support, and market approach criteria, as well as in the criteria for:
- Innovative product strategy and road map with R&D investments to create AI-enhanced offerings
- Detecting and avoiding duplicate contracts
- Contract negotiation with external parties with advanced features, including an online portal for real-time negotiations between parties with lockdowns of non-negotiable clauses and AI-based risk alerts of changes
- Spend analytics products with classification engines to assess the key terms of materials and services
- Usability with the same look-and-feel, the same data model, consolidated data capture, and comprehensive analytics and reporting across all the applications
- Improvements to contract language with enhanced functions like sample contract terms and conditions language derived from other clients
As both a contract repository and a collaborative, secure authoring and contract management workflow solution, GEP SMART CLM software enables the complete management of contract documents throughout their life cycle to ensure companies never miss opportunities to maximize value with their contracted suppliers and partners. It is tailor-made to manage a company’s vital business information, boost contract visibility and compliance, and mitigate supply chain risk. Additionally, GEP SMART’s contract management software enables smarter and faster processes through labor-saving innovations such as automatic document creation and obligation tracking, touchless amendments, and AI-based contractual risk mitigation.
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