Case Study: Major U.S. Bank achieves complete spend visibility and boosts operational efficiency with GEP SMART

Major Bank Achieves Complete Visibility and Boosts Operational Efficiency With Smart by GEP

A major U.S. bank with more than $80 billion in revenue, 200,000+ employees and 5,000+ branches needed enterprise-wide spend visibility and more accurate, faster spend analysis. Its legacy center- and region-based approach and rules-driven analytics provided only about 40% invoice visibility, limiting negotiation leverage, vendor compliance and timely decision-making.

The bank deployed GEP SMART, migrated historical data and integrated the platform with its ERP, while GEP developed a custom procurement taxonomy to enable line-item-level cleansing, enrichment and classification. As a result, spend analysis accuracy increased to 95%, turnaround times dropped significantly, the platform processed roughly $46 billion in spend over two years, and stakeholders gained actionable visibility to identify savings and improve operational efficiency.