Party City Holdings Inc. Selects GEP Smart Unified Procurement Software Platform To Analyze Spend Globally And Drive Value

Rhea-AI Summary

Party City Holdings Inc. (PRTY) has selected GEP SMART as its procurement software platform after a competitive selection process. This cloud-native solution will enhance PCHI's spend analysis capabilities, allowing for greater visibility into category spending and identifying savings opportunities. According to Deborah Sorg, VP of Procurement, GEP's platform is expected to drive value and efficiencies across the organization. The investment aligns with PCHI's strategy to leverage technology for optimized operations in the consumer party products industry.

Positive

• Selection of GEP SMART enhances procurement efficiency.
• Improved spend analysis capability for better savings identification.
• Investment aligns with PCHI's strategic focus on technology.

Negative

• None.

CLARK, N.J., March 18, 2021 /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 Party City Holdings Inc. (PCHI) ¾ a global leader in the consumer party products industry with over 800 company-owned and franchise stores throughout North America ¾ has selected GEP SMART™, the industry's leading procurement software platform, following a competitive selection process.

GEP SMART Spend Analysis Software will enable PCHI to structure, cleanse and analyze all its spend to the most granular level of visibility.

"GEP's solution will provide clear visibility into our category spend, to help us better identify savings opportunities across the enterprise and drive greater value to our organization," said Deborah Sorg, Vice President Procurement, Party City Holdings, Inc.

GEP SMART is a unified, cloud-native source-to-pay platform, built on a data-centric foundation with AI at its core and user-first design. GEP SMART enables Fortune 500 and Global 2000 clients to drive optimum efficiency, agility, visibility and actionable intelligence into all procurement and purchasing functions, while eliminating burdensome infrastructure and support costs to achieve maximum ROI.

About Party City Holdings Inc.

Party City Holdings Inc., a wholly owned subsidiary of Party City Holdco Inc. (PCHI) [NYSE:PRTY], is a global leader in the consumer party products industry. A vertically integrated designer, manufacturer, and distributor of consumer party goods, our products are found globally in over 100 countries. PCHI operates multiple business divisions, including Party City Retail Group and Amscan, the consumer product group. Under the Party City banner, the company is the leading party goods and Halloween specialty retailer in North America by revenue, operating more than 800 company-owned stores, including franchise stores, and an additional number of "Halloween City" seasonal pop-up locations throughout North America. Party City also sells direct to consumers through its e-commerce website, PartyCity.com.

The unique ability to operate in a vertically integrated manner with controlled distribution channels is a key factor in unleashing value as approximately 80% of the retail assortment is sourced or manufactured through the consumer product group segment. PCHI's category-defining retail concept, multi-channel reach, broad and deep product offering, and low-cost global sourcing model are, we believe, significant competitive advantages which position the Company for continued organic and acquisitive growth, as well as margin expansion within a growing $8 billion industry. Through its affiliates, the company boasts global manufacturing and distribution capabilities throughout the world.

About GEP SOFTWARE

GEP SOFTWARE™ provides award-winning digital procurement and supply chain platforms that help global enterprises become more agile, resilient, competitive and profitable. With beautifully rendered interfaces and flexible workflows, GEP® provides users fresh, intuitive digital workspaces that yield extraordinary levels of user adoption and meaningful gains in team and personal productivity.

GEP products capitalize on machine learning and cognitive computing, advanced data and semantic technologies, IoT, mobile and cloud technologies, and are designed to incorporate continual innovations in technology.

GEP's software integrates quickly and easily with third-party and legacy systems, such as SAP, Oracle and all other major ERP and F&A software. And with superb support and service, GEP is an industry leader in customer satisfaction and loyalty.

GEP's cloud-native software and digital business platforms consistently win awards and recognition from industry analysts, research firms and media outlets, including Forrester, IDC, Procurement Leaders, and Spend Matters.

GEP SOFTWARE is part of Clark, NJ-based GEP — the world's leading provider of procurement and supply chain strategy, software and managed services. To learn more, visit www.gepsoftware.com

Media Contact

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

 

View original content to download multimedia:http://www.prnewswire.com/news-releases/party-city-holdings-inc-selects-gep-smart-unified-procurement-software-platform-to-analyze-spend-globally-and-drive-value-301250229.html

SOURCE GEP

FAQ

What procurement software has Party City selected?

Party City has selected GEP SMART as its procurement software platform.

How will GEP SMART benefit Party City?

GEP SMART will provide better visibility into spending, helping identify savings opportunities across the enterprise.

When was the selection of GEP SMART announced?

The selection was announced on March 18, 2021.

What is Party City's stock symbol?

Party City's stock symbol is PRTY.