GEP, a leading provider of procurement and supply chain strategy, software and managed services to Fortune 500 and Global 2000 enterprises worldwide, announced that it has been selected by Synopsys to provide procurement consulting, contracting and services under a multiyear agreement, following a competitive selection process.
GEP Services will help Synopsys realize cost savings from its global spending through sourcing and contract management, managed services across multiple categories, including marketing, hardware and software, and professional services.
Synopsys, headquartered in Silicon Valley with more than 18,000 employees, also selected GEP SOFTWARE to automate its entire source-to-contract (S2C) process, encompassing sourcing, project tracking, and contract and supplier management, to gain greater visibility into all indirect spending and deliver superior value to stakeholders.
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“As we continue to execute ambitious business goals, how we manage procurement to facilitate growth is key to continuing to drive operational efficiency,” said Thomas Tran, director of strategic sourcing and procurement at Synopsys. “We selected GEP because it is one of the few established global companies combining end-to-end procurement and supply chain strategy, services and software solutions under one umbrella, and it offers productivity and cost savings across our business. GEP, a minority-owned business, can also help to ensure we continue to build a more diverse supplier base.”
GEP SOFTWARE encompasses GEP SMART, recently named the world’s best procurement software for the second year in a row, and GEP NEXXE, the next-generation, cloud-native supply chain unified platform. It enables global organizations to drive optimum efficiency, agility, visibility and actionable intelligence into all procurement, purchasing and supply chain functions while eliminating burdensome infrastructure and support costs to achieve maximum ROI.
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