- Launched in mid-2020 as a stand-alone solution, GEP SMART's AI-driven AP Automation has seen demand increase 175% as companies transform accounts payable operations to cut operating costs
CLARK, N.J., April 6, 2021 /PRNewswire/ -- 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™ AP Automation has been named "Market Leader" by Ardent Partners in its annual 2021 ePayables Technology Advisor report.
This is the first year that Ardent Partners evaluated GEP's AP Automation, an AI/ML-driven next-generation cloud-native solution, in its ePayables assessment. GEP recently made the AP functionality of GEP SMART, the industry's leading end-to-end cloud procurement software platform that processes millions of invoices annually, available as a stand-alone platform expressly to support companies transforming their accounts payable operations.
"Growth of our AP Automation solution is going gangbusters because companies are accelerating their AP transformation to reduce fraud and compliance risk, drive efficiencies and lower the processing cost per invoice," explained Avishek Jana, Director of AP Product Management at GEP.
Core functionality that is highly customizable and configurable
Ability to manage complex AP needs, including global compliance
Large network with over 8 million suppliers
Advanced reporting and analytic capabilities
Seamless integration with GEP SMART, its full source-to-pay suite of solutions, encompassing sourcing, procurement, contract management, and spend analytics
Download a complimentary copy of the 2021 ePayables report, which provides accounts payable (AP), finance, and procure-to-pay (P2P) leaders an evaluation of ePayable solution providers.
GEP AP Automation is available for purchase and implementation. To learn more, visit our website.
About Ardent Partners
Ardent Partners is a research and advisory firm that specializes in procurement, accounts payable, fintech, and HR industries. Ardent Partners advises clients and publishes research that helps business decision-makers understand industry best practices and how to improve performance. It also publishes research that covers the technology landscape and helps professionals identify the best-fit solution or solutions for their specific budget and requirements. Ardent Partners also hosts the CPO Rising Summit and other digital events every year. www.ArdentPartners.com
About GEP SOFTWARE
GEP SOFTWARE™ provides award-winning digital procurement and supply chain platforms that help global enterprises become more agile, resilient, competitive and profitable. With beautifully rendered interfaces and flexible workflows, GEP® provides users fresh, intuitive digital workspaces that yield extraordinary levels of user adoption and meaningful gains in team and personal productivity.
GEP products capitalize on machine learning and cognitive computing, advanced data and semantic technologies, IoT, mobile and cloud technologies, and are designed to incorporate continual innovations in technology.
GEP's software integrates quickly and easily with third-party and legacy systems, such as SAP, Oracle and all other major ERP and F&A software. And with superb support and service, GEP is an industry leader in customer satisfaction and loyalty.
GEP's cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Forrester, IDC, Procurement Leaders, and Spend Matters.
GEP SOFTWARE is part of Clark, NJ-based GEP — the world's leading provider of procurement and supply chain strategy, software and managed services. To learn more, visit www.gepsoftware.com