GEP AGREES TO ACQUIRE COSTDRIVERS®, A LEADING SUPPLY MARKETS FORECASTING, COSTING AND PRICING TRENDS PLATFORM, IN PURCHASE OF PROCUREMENT INTEL AND DATA SCIENCE FIRM DATAMARK®
- Huge database of global prices and costs leverages big data analytics and machine learning to support forecasting, cost modeling and decision-making of enterprise procurement and supply chain teams
- Platform enables sourcing, procurement and supply chain professionals to develop, compare and contrast a full range of sustainable cost models for greener outcomes
- Parent Datamark boasts significant Latin America footprint and roster of Brazilian market leaders and enterprise-level multinationals
CLARK, N.J., March 8, 2022 /PRNewswire/ -- GEP®, a leading provider of supply chain strategy and software to Fortune 500 and Global 2000 enterprises worldwide, announced today it has agreed to acquire COSTDRIVERS®, a leading supply markets forecasting, pricing trends and cost-modeling platform, and procurement intelligence and data science firm Datamark® Ltd., based in Sao Paolo, Brazil, through the acquisition of its parent company, Datamark International (Bermuda) Ltd. The deal is expected to close in Q1 pending regulatory approvals.
"GEP customers can access the powerful big data analytics and machine-learning enhanced insights of one of the most powerful cost and pricing forecasting platforms available anywhere," said Subhash Makhija, CEO of GEP. "While GEP's consulting and managed services teams are already leveraging COSTDRIVERS to deliver game-changing results, we will also enable GEP software customers to leverage the platform by eventually incorporating its powerful functionality into their GEP SMART™ and GET NEXXE™ digital procurement and supply chain management platforms."
And Makhija noted, "We are particularly excited by the opportunity that the platform affords customers to drive more sustainable sourcing and procurement operations in a wide range of industries and sectors."
COSTDRIVERS, which has more than 200 enterprise customers in 40 countries, tracks more than 50,000 commodities and operating supplies in markets all over the world. Easy-to-use, interactive dashboards provide price forecasts and customized alerts for cost reduction opportunities, which feed into budgeting and strategic planning tools. While proprietary algorithms and predictive analytics drive AI-enriched forecasting functionality, scenario planning and decision-making are further informed by highly relevant supporting data, such as a decade or more of historical cost evolution.
Unlike its COSTDRIVERS platform, Datamark Ltd. has focused mainly on servicing the Brazilian market with specialized procurement data on consumer products, packaging and industrial inputs. Brazil boasts the 12th largest economy in the world at more than $1.36 trillion, and Datamark has more than 25% of Brazil's top 1,000 companies as customers.
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 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 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: [email protected]
Logo - https://mma.prnewswire.com/media/518346/GEP_Logo.jpg
Share this article