FORTUNE 500 ENGINEERED COMPONENTS MANUFACTURER OPTIMIZES SPEND MANAGEMENT WITH GEP SMART A Fortune 500 company manufacturing engineered components and specialty products, having hundreds of businesses spread across more than 50 countries and employing a workforce of nearly 70,000, sought a technology solution that could facilitate complete enterprise-wide visibility of spend and optimize spend analysis and categorization. RESULTS ACHIEVEMENTS OBJECTIVES • Successfully acquired data
from more than 450 BUs,
across seven segments • Achieved classification
accuracy above 9 percent • Improved enterprise-wide
spend visibility • Classified spend data using GEP taxonomy based on client-specific configurations to drive efficiency • Annual refresh frequency • Increased spend under manageme

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