ELECTRONIC DESIGN AUTOMATION INDUSTRY LEADER SYNOPSYS SELECTS GEP FOR PROCUREMENT MANAGED SERVICES AND SOFTWARE TO DELIVER GREATER EFFICIENCY AND MITIGATE RISKS

• GEP SOFTWARE selected to work with Synopsys source-to-contract (S2C) process covering all indirect global spending
• GEP to support its aim to continue diversifying its supplier base

CLARK, N.J., Dec. 12, 2022 /PRNewswire/ -- GEP, a leading provider of procurement and supply chain strategy, software and managed services to Fortune 500 and Global 2000 enterprises worldwide, announced today that it has been selected by Synopsys to provide procurement consulting, contracting and services under a multiyear agreement, following a competitive selection process.

GEP Services will help Synopsys realize cost savings from its global spending through sourcing and contract management, managed services across multiple categories, including marketing, hardware and software, and professional services.

Synopsys, headquartered in Silicon Valley with more than 18,000 employees, also selected GEP SOFTWARE™ to automate its entire source-to-contract (S2C) process, encompassing sourcing, project tracking, and contract and supplier management, to gain greater visibility into all indirect spending and deliver superior value to stakeholders.

"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. GEP, a minority-owned business, can also help to ensure we continue to build a more diverse supplier base."

GEP SOFTWARE encompasses GEP SMART™, recently named the world's best procurement software for the second year in a row, and GEP NEXXE™, the next-generation, cloud-native supply chain unified platform. It enables global organizations to drive optimum efficiency, agility, visibility and actionable intelligence into all procurement, purchasing and supply chain functions while eliminating burdensome infrastructure and support costs to achieve maximum ROI.

GEP® delivers transformative supply chain solutions that help global enterprises become more agile and resilient, operate more efficiently and effectively, gain competitive advantage, boost profitability and increase shareholder value. Fresh thinking, innovative products, unrivaled domain expertise, smart, passionate people — this is how GEP SOFTWARE™, GEP STRATEGY™ and GEP MANAGED SERVICES™ together deliver supply chain solutions of unprecedented scale, power and effectiveness. Our customers are the world's best companies, including hundreds of Fortune 500 and Global 2000 industry leaders who rely on GEP to meet ambitious strategic, financial and operational goals. A leader in multiple Gartner Magic Quadrants, GEP's cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Gartner, Forrester, IDC, ISG, and Spend Matters. GEP is also regularly ranked a top supply chain consulting and strategy firm, and a leading managed services provider by ALM, Everest Group, NelsonHall, IDC, ISG and HFS, among others. Headquartered in Clark, New Jersey, GEP has offices and operations centers across Europe, Asia, Africa and the Americas. To learn more, visit www.gep.com.

Media Contact

Derek Creevey
Director, Public Relations
GEP
Phone: +1 732-382-6565
Email: derek.creevey@gep.com

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