Forrester names GEP a leader in supplier value management

GEP, a supply chain software and consulting firm, was named a leader in Forrester’s Q1 2022 analysis of supplier value management (SVM) platforms.

The research firm included nine vendors in the assessment, with each having publicly available products that support upstream source-to-contract and downstream procure-to-pay; more than $50 million of SVP product subscription revenue; and a significant number of enterprise customers across many industries.

Forrester then evaluated the vendors across 31 criteria grouped into three categories: current offerings, strategy, and market presence.

Coupa, Ivalua, and GEP were in the “leaders” segment; Jaggaer and SAP were “strong performers”; and Workday, Oracle, and Xeeva were “contenders”.

According to Forrester, the SVM market grew 13% in 2021 as chief procurement officers (CPOs) replaced obsolete ERP modules with specialist SVM products in order to help them realize strategic imperatives across supplier-related risk and ESG.

Forrester said GEP is a good selection for advanced procurement functions in large global enterprises that want a complete SVM suite from one vendor, and especially if they also want a supply chain management (SCM) platform.

GEP’s two major software products are GEP Smart, a procurement platform, and GEP Nexxe, a unified supply chain management suite. The Clark, NJ-based firm also offers strategic consulting and managed services.

Forrester praised GEP’s “very configurable” SVM suite for its strengths in category management, specialist sourcing, spend optimization, and digitalization of supplier collaboration. The product also boasts specialist sourcing functionality for key categories in target industries such as oilfield services and auto parts.

GEP earlier this month acquired market intelligence firms Costdrivers and Datamark. The firm, which has more than 5,000 employees globally, recently signed on Absolut, Radisson, and DB Power as clients.