GEP wins procurement consulting and software contract with Synopsys

Synopsys – a global electronic design automation firm – has chosen GEP to provide procurement consulting, managed services, and software.

The multi-year agreement will task GEP with helping Synopsys drive cost savings throughout its sourcing and contract management – including the categories of marketing, hardware, software, and professional services.

Synopsys provides software tools for silicon design and verification, intellectual property, security, and quality. The Mountain View, CA-based firm has more than 18,000 employees and annual revenue of $5.08 billion.

“As we continue to execute ambitious business goals, how we manage procurement to facilitate growth is key to continuing to drive operational efficiency,” said Thomas Tran, director of strategic sourcing and procurement at Synopsys. “We selected GEP because it is one of the few established global companies combining end-to-end procurement and supply chain strategy, services, and software solutions under one umbrella, and it offers productivity and cost savings across our business.”

Aside from delivering consulting and managed services, GEP will also implement its GEP Smart platform to automate Synopsys’ source-to-contract process – including sourcing, project tracking, and contract and supplier management.

Headquartered in Clark, NJ, GEP works with Fortune 500 and Global 2000 businesses globally. The firm provides consulting in procurement transformation, opportunity assessment, strategic cost management, supply chain risk management, and M&A, as well as managed services in planning and forecasting, inventory management, logistics management, data management, and supply risk management.

The firm’s proprietary software includes GEP Smart, an AI-powered source-to-pay platform that helps large organizations improve efficiency, visibility, and agility in procurement and purchasing, and GEP Nexxe, an end-to-end supply chain management platform.