ONE OF CYPRUS' LEADING BANKING & FINANCIAL INSTITUTIONS, HELLENIC BANK, SELECTS GEP FOR PROCUREMENT CONSULTING AND SOFTWARE TO DELIVER GREATER VALUE TO ITS SUPPLIERS AND STAKEHOLDERS

• GEP SOFTWARE selected to help transform Hellenic Bank's source-to-pay (S2P) process to identify and realize cost savings
• Latest new client for GEP's fast growing Mediterranean and Levant regions

CLARK, N.J., March 1, 2023 /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 Cyprus' Hellenic Bank to provide a combined procurement consulting services and software under a multiyear agreement, following a competitive selection process.

Hellenic Bank, which was founded in 1976 in Nicosia and operates 55 branches across Cyprus, selected GEP MANAGED SERVICES^™ to transform and streamline its procurement operation to identify and realize cost savings from its ecosystem of suppliers and internal stakeholders. Hellenic Bank also selected GEP SOFTWARE^™ to automate its S2P process and supplier management, to deliver superior value to stakeholders.

"As we continue to execute ambitious digital transformation and cost containment goals, we selected GEP because it is one of the few established global companies combining end-to-end procurement strategy, services and software solutions under one umbrella. GEP can also help to ensure we continue to build a more diverse and environmentally sustainable supplier base," said a Hellenic Bank representative.

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.

About GEP
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 more than 550 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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