GEP, a leading provider of procurement and supply chain strategy, software, and managed services to Fortune 500 and Global 2000 companies worldwide, today announced that it has been selected by Synopsys to provide procurement consulting, underwriting, and services under a multi-year agreement after a competition provides selection process.
GEP Services will help Synopsys realize cost savings from its global spending through procurement and contract management, and managed services across multiple categories including marketing, hardware and software, and professional services.
Synopsys, headquartered in Silicon Valley and employing more than 18,000 people, also selected GEP SOFTWARE™ to automate its entire Source-to-Contract (S2C) process, which includes sourcing, project tracking, and contract and vendor management to provide a Gain better visibility into all indirect spending and deliver superior value to stakeholders.
“As we continue to pursue ambitious business goals, the way we manage sourcing to facilitate growth is key to further increasing operational efficiencies,” said Thomas Tran, director of strategic sourcing and procurement at Synopsys. “We chose GEP because it is one of the few established global companies that brings together end-to-end sourcing and supply chain strategies, services, and software solutions under one roof, delivering productivity and cost savings across our organization. GEP, a minority-owned company, can also help ensure we continue to build a more diverse supplier base.”