Case Study: Fortune 500 Engineered Components Manufacturer achieves 95%+ spend classification accuracy and enterprise-wide spend visibility with GEP SMART

Fortune 500 Engineered Components Manufacturer Optimizes Spend Management With SMART by GEP

A Fortune 500 engineered-components manufacturer with hundreds of businesses across more than 50 countries and roughly 70,000 employees lacked enterprise-wide visibility into procurement. The company faced a labor-intensive process of collecting and consolidating data from over 450 business units and classifying spend from some 15,000 suppliers across seven segments, making granular, segment-specific categorization and reporting difficult.

The company deployed GEP SMART, an AI-driven, cloud-native procurement platform, with GEP’s data-extraction team performing phased rollouts, quality control and on-site category reviews. The solution processed 5.3 million transactions annually from nearly 100,000 suppliers, covering $7.1 billion in spend, achieved classification accuracy above 95%, reduced cycle times by about 20%, and delivered improved enterprise-wide spend visibility and increased spend under management.