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Transcepta vs GEP SMART

Last Updated: November 18th, 2024

Our analysts compared Transcepta vs GEP SMART based on data from our 400+ point analysis of Procurement Software, user reviews and our own crowdsourced data from our free software selection platform.

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Product Basics

Transcepta is a cutting-edge software solution designed to streamline and automate accounts payable (AP) processes. It is particularly well-suited for medium to large-sized businesses seeking to enhance their financial operations through automation. This platform stands out for its ability to reduce manual data entry, speed up invoice processing times, and improve overall accuracy in financial transactions. Among its most celebrated features are electronic invoicing, real-time spend visibility, and seamless integration with existing ERP systems. Users often highlight the significant cost savings and efficiency gains as key benefits, alongside the software's ability to strengthen supplier relationships through more timely and accurate payments. When compared to similar products in the AP Automation space, Transcepta is frequently praised for its user-friendly interface and robust customer support. Pricing considerations vary based on the scale of deployment and specific business needs, typically involving a subscription model that may be billed monthly or annually, ensuring flexibility for businesses of different sizes and budgets.

GEP SMART (formerly SMART by GEP) is a cloud-based, AI-powered supply chain system built on Microsoft Azure. It is suitable for larger corporations and leverages cutting-edge technologies like artificial intelligence, big data, blockchain and the IoT to educate and empower decision making. Its unified setup gives users a simplified location for all of their needs and tasks.

It gives users the ability to monitor supplier performance and the entire purchasing process from requisition to approval. Users can automate source-to-pay processes and other tedious tasks to increase accuracy and cut down on the time and resources required for each. It provides cost-cutting inclusions that measure initiatives to their outcomes along with spend analysis and visibility through analytical reporting.

$8,000 Monthly

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$500,000 Annually, Quote-Based

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Product Insights

Cost Reduction: By automating the accounts payable process, Transcepta significantly reduces the costs associated with manual invoice processing, including labor, printing, and postage expenses.
Improved Accuracy: Transcepta minimizes human error by automating data entry and invoice matching, ensuring payments are accurate and reducing the likelihood of overpayments or duplicate payments.
Faster Processing Times: Automation speeds up the invoice processing cycle, enabling businesses to take advantage of early payment discounts and avoid late payment penalties.
Enhanced Visibility: Transcepta provides real-time insights into the AP process, allowing businesses to track invoices, monitor spend, and manage cash flow more effectively.
Supplier Connectivity: The platform facilitates easy onboarding of suppliers and enables electronic invoicing, improving communication and collaboration between businesses and their suppliers.
Regulatory Compliance: Transcepta helps businesses comply with regulatory requirements by maintaining an auditable trail of all transactions and adhering to tax and financial reporting standards.
Scalability: The cloud-based nature of Transcepta allows it to easily scale with the growth of a business, accommodating an increasing volume of invoices without the need for additional hardware or software.
Enhanced Security: Transcepta employs robust security measures to protect sensitive financial data and ensure that transactions are secure from fraud and cyber threats.
Environmental Sustainability: By transitioning to electronic invoicing and reducing the need for paper-based processes, businesses can significantly lower their carbon footprint and contribute to environmental sustainability.
Improved Supplier Relationships: Faster invoice processing and payments improve supplier satisfaction, leading to better negotiation terms and stronger business partnerships.
Strategic Decision Making: The analytics and reporting capabilities of Transcepta provide valuable insights that help businesses make informed strategic decisions regarding their spending and financial management.

Find The Best Products: According to our analysts, the platform offers one of the most robust catalog handling toolkits, offering 100% of key features and tools out of the box. It offers catalog templates, product bundling, favorite shortlisting and punch-out catalogs based on past purchases. The built-in AI enhances buying experiences by analyzing legacy data and directing buyers to ideal products. You can also track changes in pricing, lead time, SIN and contract numbers for each item.
Create Purchase Orders (PO) Efficiently: Our analysts rated the PO management module at 90, placing it alongside industry stalwarts like SAP Spend Management (95) and Workday Spend Management (88). It supports automated PO generation, approval workflows, recurring and pre-specified purchases, blanket orders, eSignatures, and file attachments. You can brand POs with your business logo and attach notes or files for suppliers.
Streamline Sourcing: The platform’s robust sourcing features earned a 93 rating from our analysts. You can automate online requisitions, compare supplier offers, and create and send RFQs to suppliers. The sourcing dashboard offers an overview of RFIs, RFQs, RFPs and auctions for data-driven decision-making. You can collaborate with the best suppliers using an automated supplier risk scoring system that considers restricted-party screening, financial risks, metrics, and more of each supplier.
Improve Supplier Collaboration: The platform scored a strong analyst rating of 91 for its supplier relationship management module. It lets you onboard suppliers, offers unique portals, facilitates internal communication, and enables supplier categorization and segmentation. The platform tracks supplier performance using custom metrics and offers a multi-tier assessment model and demand planning and forecasting tools.

AP Automation: Eliminate invoice exceptions and assure visibility and accuracy while minimizing AP costs. Verify and fix issues of digitized invoices using an AI-driven algorithm without the complications of manual work.
Supply Chain Connectivity: Optimize, digitize and enable P2P connectivity while ensuring seamless integration with ERP systems. Onboard suppliers in a scalable way, irrespective of size.
Supplier Management: Access and manage data pertaining to transaction details, W9s and contact information, all in real time. Enable automated notifications and streamline workflows to enhance visibility.
Financial Management: Increase profits with added discounts on particular invoices. Invest extra cash to collaborate and strengthen supplier relationships.
Reporting & Analytics: With the help of AI-driven algorithms that power predictive analytics, eliminate disruptions and access complete visibility.

Spend Analysis: You can automatically gather and integrate spend data from various sources into a unified dataset. Analyze spending patterns, from line-item details to enterprise-wide trends. Identify cost-saving opportunities with real-time spend alerts and advanced classification.
Sourcing: Use customizable templates and workflows to build multi-line proposals and quotes. Built-in supplier intelligence gives you a comprehensive view of existing suppliers. Drive best-value sourcing through real-time auctions and create sourcing events from pre-built templates.
Contracts Management: Use redlining and eSignature tools to collaborate with stakeholders and author contracts. Source-to-pay integration converts negotiated terms into digital contracts and catalogs. Dashboards help track contract utilization, compliance, supplier performance and potential risks. Quickly locate contract details with intelligent search. Maintain compliance with integrated reports, user-defined alerts and automated reminders for contract reviews, renewals and rebids.
Supplier Management: Maintain a supplier repository with buyer-entered and supplier-maintained data, including risk assessments, contact details, diversity certifications, financial information and critical business documents. Evaluate performances using customizable scorecards that combine qualitative and quantitative metrics. You can provide suppliers with greater control through self-service portals, easy registration options and master data management tools.
Procure-To-Pay: Electronically create and approve requisitions for catalog and non-catalog items. Generate purchase orders directly from requisitions or independently and track their status. Use line-by-line invoice matching tools and automatic approval workflows to reduce errors. Customize requisition-to-pay workflows, including failover, delegation and escalation rules, to cater to the specific needs of different business units and locations.
Payments: Automate global payments through Mastercard's virtual card service. The platform optimizes working capital by streamlining payments and providing early payment flexibility, improving liquidity and financial agility. Additionally, it integrates with sustainability initiatives to track and manage sustainable spending according to your CSR goals.
Accounts Payable Automation: Use an organized queue management workflow with automatic routing, reviews and approvals to minimize manual intervention and expedite problem resolution. Multi-way matching powered by AI ensures accurate invoice validation against purchase orders and negotiated prices, with configurable tolerances and user-defined matching rules. The platform uses OCR technology to convert scanned paper invoices or PDFs into machine-readable documents.
Risk Management: Develop a third-party risk management (TPRM) strategy to identify, prioritize and mitigate potential risks. The platform facilitates vendor segmentation based on a risk-based assessment to allocate resources efficiently and keep an eye on high-risk vendors. Risk assessments include cybersecurity vulnerabilities, data privacy, operational disruptions, compliance concerns, geopolitical instability and business continuity issues.

Product Ranking

#29

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#12

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Analyst Rating Summary

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User Sentiment Summary

86%

of users recommend this product

Transcepta has a 'great' User Satisfaction Rating of 86% when considering 26 user reviews from 1 recognized software review sites.

92%

of users recommend this product

GEP SMART has a 'excellent' User Satisfaction Rating of 92% when considering 180 user reviews from 4 recognized software review sites.

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Awards

Synopsis of User Ratings and Reviews

Easy to Use: Users have praised Transcepta's intuitive interface, making it simple to navigate and process invoices, even for those unfamiliar with AP automation software.

Streamlined Invoice Processing: Transcepta automates many manual tasks, such as data entry and routing, which significantly reduces processing time and frees up staff to focus on more strategic tasks.

Improved Accuracy: Transcepta's automated data extraction and validation features minimize errors, leading to more accurate invoice processing and fewer payment delays.

Enhanced Visibility: The platform provides real-time insights into invoice status, allowing users to track invoices from receipt to payment and identify potential bottlenecks.

Strong Customer Support: Users have reported positive experiences with Transcepta's customer support team, who are responsive and helpful in resolving issues.

User-Friendly Interface: Users praise the platform for its intuitive design, making navigation and sourcing straightforward, even for team members without extensive procurement experience.

Efficient Sourcing: GEP SMART streamlines the sourcing process, enabling users to quickly identify and compare potential suppliers, saving valuable time and effort.

Improved Spend Visibility: The platform provides comprehensive insights into spending patterns, empowering users to identify cost-saving opportunities and optimize procurement strategies.

Limited Customization: Some users have found the platform's customization options to be limited, making it difficult to tailor the system to their specific procurement needs. For example, they may not be able to create custom reports or dashboards that align with their unique requirements.

Steep Learning Curve: The platform's interface can be complex and challenging to navigate, especially for new users. This can lead to a longer onboarding process and a steeper learning curve, which can be frustrating for users who are already familiar with other procurement systems.

Integration Challenges: Some users have reported difficulties integrating Transcepta with other systems, such as their ERP or CRM. This can create data silos and make it difficult to get a complete picture of their procurement processes.

Lack of Mobile Functionality: The platform lacks robust mobile functionality, which can be a challenge for users who need to access procurement information on the go. This can be particularly problematic for procurement professionals who are frequently traveling or working remotely.

Limited Customization: Users have expressed frustration over the inflexibility of templates and workflows, making it difficult to tailor the system to their specific procurement requirements.

Complex User Interface: The system's navigation and interface have been criticized for being overly complicated and not user-friendly, leading to a steep learning curve for new users.

Integration Challenges: Integrating GEP SMART with existing ERP or other procurement systems has proven to be a hurdle for some organizations, causing data silos and workflow disruptions.

Is Transcepta the key to unlocking your procurement potential? User reviews from the past year indicate that Transcepta excels in automating accounts payable processes, particularly for medium to large businesses. Its strength lies in reducing manual data entry and speeding up invoice processing, leading to cost savings and efficiency gains. For example, users rave about its electronic invoicing feature and real-time spend visibility, which empowers them to make informed financial decisions. Compared to competitors like Procurify, Transcepta is lauded for its user-friendly interface and strong customer support. However, some users express concerns about the platform's pricing, which can be a significant investment, starting at $8,000. Overall, Transcepta emerges as a robust solution best suited for organizations seeking to automate their AP processes, improve accuracy in financial transactions, and strengthen supplier relationships through timely payments. Its comprehensive features and focus on automation make it a valuable asset for businesses looking to optimize their financial operations and drive growth.

Want to get SMART about procurement? GEP SMART is a cloud-based, AI-powered procurement software platform designed to streamline and automate the entire source-to-pay process. User reviews highlight its comprehensive functionality, covering everything from spend analysis and savings tracking to sourcing, contract management, supplier management, and procure-to-pay. Users praise its user-friendly interface and robust reporting engine, which allows for detailed tracking of spending and identification of areas for improvement. GEP SMART's mobile-native design is also a significant plus, enabling procurement professionals to work effectively from anywhere.However, some users have pointed out that the software's learning curve can be steep, especially for those unfamiliar with procurement software. Additionally, while GEP SMART offers a wide range of features, some users have expressed a desire for more customization options. Despite these minor drawbacks, GEP SMART is generally well-regarded for its comprehensive functionality, user-friendly interface, and mobile accessibility.GEP SMART is best suited for organizations looking for a unified, AI-powered procurement solution that can streamline their processes and enhance their strategic capabilities. Its comprehensive functionality and user-friendly design make it an ideal choice for businesses of all sizes, particularly those with a mobile workforce. However, organizations with highly specific customization needs may need to consider other options or factor in additional implementation time.

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FAQ

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