Case Study: a major U.K.-based financial services company achieves $14 million in annualized savings with GEP Nexxe

Financial Services Firm Partners With Gep To Achieve Next-level Procurement Excellence

A major U.K. based financial services company was seeking a strategic, end-to-end source-to-pay solution to develop a digital procurement strategy. Their objectives were to optimize supplier relationships, improve cost-effectiveness, and drive savings while managing risk. To meet this challenge, they partnered with vendor GEP Nexxe.

GEP Nexxe implemented its GEP SMART platform and provided consulting services to streamline and automate the entire procurement process. This solution delivered a new supplier relationship management process and a comprehensive risk management framework. The results were significant, including a nearly eight-fold increase in annualized savings over four years, from $1.9 million to $14 million, with over 300 users now on the platform.