RESEARCH TRIANGLE PARK, N.C., Oct. 27, 2016 /PRNewswire/ -- SciQuest, a leading provider of spend management solutions, announced today that a leading global pharmaceutical company has implemented SciQuest's Enterprise Reagent Manager to enhance inventory management, shopping and compliance within their research and development facilities.
Used by 8 of the 10 top global pharmaceutical companies, ERM allows scientific staff to find, source and track mission-critical materials from a single application. This innovative business is the first of this pharmaceutical group to move from on premise to the new hosted Enterprise Reagent Manager. ERM replaces four legacy chemical inventory management solutions at their four different sites in the US, UK and Europe.
Through this consolidation, it now provides their end-users with one fully integrated solution that allows them to search multiple sources simultaneously (SciQuest's Spend Director Hosted Catalog, eMolecules plus their lab and storeroom inventory) and submit their external catalog requests to their eProcurement solution for processing, something they have never been able to do with their legacy systems. In addition to allowing researchers to find, track, and purchase the items they need, ERM helps the company manage its spending through promotion of preferred suppliers, increased contract compliance, and efficient use of inventory. ERM customers typically reduce their chemical spend by up to 20% or more based on improved on-contract purchase and avoidance of unnecessary purchase and disposal.
"Every global pharmaceutical company's research teams are facing increasing pressure to deliver critical major medical breakthroughs with tightening budgets," said Robert Bonavito, CEO of SciQuest. "Enterprise Reagent Manager streamlines research inventory processes so that teams can focus on their research and get faster access to and higher utilization of the materials or chemicals already in inventory."
About SciQuest Inc.
The largest Commercial, Manufacturing and Life Sciences companies in the world trust SciQuest with billions of dollars of annual spend. Additionally, SciQuest is the leading procure-to-pay provider in the Higher Education and Government sectors. SciQuest eprocurement and strategic sourcing customers across the globe have gained access to the best suppliers, with the best terms, on our scalable, configurable, user-friendly platform. Our SaaS-based, source-to-settle solution provides unparalleled visibility, insights and recommendations to procurement leaders and suppliers. The result is a fluid supply chain driven by powerful spend analysis, comprehensive contract management and efficient accounts payable solutions. Learn how our solutions can power your organization: www.sciquest.com.
SciQuest Media Contact:
Roberta Patterson, 919-659-2230
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