SIBS Partners with GEP for Enhanced Procurement
The Portuguese-based company operating in over 25 countries has chosen GEP SMART to optimize its entire source-to-contract process.
Overview of SIBS Group
Headquartered in Lisbon, SIBS provides secure and innovative payment solutions to over 150 million users globally. They have established a strong presence in various regions including Europe, Africa, Asia, and the Americas, backed by more than 40 years of experience in payment innovation. Notably known for their pioneering services like MULTIBANCO and MB WAY, SIBS employs over 1,600 staff members across 10 global offices.
Challenges in Current Operations
As global procurement volumes continue to rise, SIBS faced difficulties in managing these processes efficiently. The absence of advanced upstream procurement tools hindered their ability to automate and scale sourcing and contracting efforts. This gap in capabilities prompted SIBS to pursue an innovative solution through GEP's software.
Choosing GEP: A Strategic Move
GEP's well-established expertise in financial services, coupled with a robust AI-powered platform, positions SIBS to enhance visibility and improve compliance across its supplier base. This strategic investment aims to accelerate procurement cycles, catering to their rapidly growing operations across multiple geographies.
The Power of GEP SOFTWARE
GEP SOFTWARE, acknowledged as a leader in the 2025 Magic Quadrant for Source-to-Pay (S2P) Suites, encompasses GEP SMART™. This advanced software suite is recognized for being a premier procurement solution, aiding organizations in enhancing their procurement processes.
With its rich feature set, GEP SMART™ is designed to provide organizations like SIBS with the tools necessary for effective sourcing, contract management, and supplier management. By leveraging GEP’s offerings, SIBS expects to realize significant improvements in operational efficiency.
GEP's Innovative Technology
GEP SOFTWARE is backed by GEP QUANTUM, an AI-first, low-code platform that enhances agility and visibility in procurement functions. This technology empowers clients to drive optimal efficiencies, helping organizations to adapt swiftly amidst evolving market demands.
About GEP SOFTWARE
GEP SOFTWARE™ offers award-winning digital platforms that enable global enterprises to enhance agility, resilience, and competitiveness. By integrating cutting-edge technologies such as machine learning and cognitive computing, GEP provides intuitive digital workspaces, leading to meaningful productivity gains.
Characterized by user-friendly interfaces and bespoke workflows, GEP delivers integrated solutions that sync with existing systems including major ERP and financial management tools. This ensures seamless operations, helping clients like SIBS maintain high levels of user adoption and satisfaction.
Looking Ahead
With this partnership, SIBS is set to transform its upstream procurement landscape, aligning with its goal of leveraging technology to enhance its operational capabilities. This collaboration not only positions SIBS to meet current demands but also prepares them for future growth in an increasingly digital landscape.
Frequently Asked Questions
What is GEP SOFTWARE?
GEP SOFTWARE™ is a leading provider of digital procurement and supply chain platforms that help organizations improve their operational efficiency and adaptability.
How does SIBS benefit from GEP's solutions?
By implementing GEP SMART, SIBS aims to automate and streamline its sourcing and contracting processes, enhancing overall visibility and compliance.
Where does SIBS operate?
SIBS operates in over 25 countries, delivering payment solutions to a diverse range of users across multiple continents.
Why is procurement technology important for SIBS?
Advanced procurement technology is essential for SIBS to address the rising global demand, enabling them to manage procurement processes efficiently.
What makes GEP SOFTWARE notable in the industry?
GEP SOFTWARE has received recognition as a leader in procurement solutions, notably being featured in Gartner's Magic Quadrant for Source-to-Pay Suites, showcasing its excellence and reliability in the field.
