GEP Named Leader and Star Performer in 2024 Procurement Outsourcing Services

Investment Rating - The report positions GEP as a Leader and a Star Performer in the Procurement Outsourcing (PO) Services PEAK Matrix® Assessment 2024 [9][30]. Core Insights - The procurement industry is focused on cost reduction while enhancing digital maturity to drive savings and improve efficiency, transparency, and stakeholder experience [2][3]. - Service providers are increasingly incorporating AI, including generative AI, into their solutions to enhance efficiencies and stakeholder collaboration [3][31]. - The landscape of PO service providers includes specialists, pure-play procurement providers, broad-based BPS providers, and IT and BPS providers [4][30]. Summary by Sections Report Scope - The assessment covers 24 PO service providers globally, focusing on Procurement Outsourcing (PO) and Source-to-Contract (S2C) services [5][6]. Provider Assessment - Leaders in the market include Accenture, Genpact, GEP, IBM, Infosys, and TCS, while Major Contenders include Capgemini, Cognizant, and Wipro [7][30]. - Leaders have enhanced their S2P capabilities through investments in advisory services, digital solutions, and category expertise [8][30]. GEP Profile - GEP offers a comprehensive suite of digital-based Procurement-as-a-Service offerings, managing over US$450 billion in spend for external clients [12][13]. - The company has launched GEP Quantum, an AI-powered platform, and expanded its delivery centers to enhance service capabilities [18][19]. Technology Solutions - GEP's technology solutions include GEP SMART™ and GEP NEXXE™, which integrate procurement and supply chain management with advanced analytics and AI capabilities [24][25]. - The platforms are designed to provide scalability, self-service, and seamless integration with existing systems [24][25]. Client Portfolio - GEP's major clients include well-known companies across various industries such as Honda, Google, and Chevron, indicating a diverse client base [19][22]. - The revenue mix shows a strong presence in North America (50-55%) and Europe (21-25%), with a focus on large buyers (60-65%) [22]. Strengths and Limitations - GEP is recognized for its strong digital ecosystem, category management expertise, and flexibility in project management [31][33]. - Limitations include a lower scale of operations in downstream procurement compared to peers and a focus solely on procurement, which may deter clients seeking broader outsourcing solutions [34][33].