– 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
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.
Ardent Partners’ 2021 ePayables assessment cites GEP AP Automation software strengths as:
- 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.