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Integration

How a biotech saved $326k by having scientists self-serve ordering lab supplies

A small, budget-conscious biotech was struggling under the weight of a manual lab supply ordering process. Their team was searching for a Coupa-compatible platform to help them move beyond spreadsheets and Sharepoint and automate the procurement process. With the clear objectives of cost savings, time savings, and R&D autonomy, their company of 54 employees partnered with ZAGENO in the hopes of addressing their lab supply ordering pain points and relieving accounting and R&D of unnecessary constraints.
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Key Facts

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Client

Biotech specializing in protein degradation recently acquired by global South Korean biotech

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Challenges

Lengthy vendor setup | Burdensome PO process | Manual ordering and tracking | Unclear roles of R&D and Accounting

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Solution

Partner with ZAGENO to streamline vendor setup, consolidate invoices, offer visibility on burn rate, and empower R&D to place orders

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Results

Within 12 months, working with ZAGENO resulted in $326,000 in labor savings, 3,585 hours saved, and 91% orders delivered within 3 ESD

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Challenges

Painful vendor setups. Each setup took 2-4 weeks, often resulting in unfavorable credit terms.

Redundant POs for every order. Redundant process led to errors, duplicative orders, and backorders.

Undefined department roles. Majority of work fell on Accounting, with limited ordering autonomy for R&D.

No visibility into spend/burn rate. Poor spend control due to lack of visibility and sub-optimal approval flow.

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Solution

Streamline and automate the ordering process with a lab supply marketplace to alleviate issues and:

  • Reduce vendor set-up time from weeks to hours by ordering from thousands of qualified vendors and having a customer service team handle new vendor setup
  • Eliminate purchase order redundancy with one consolidated invoice per month consisting of all lab supply orders
  • Empower R&D to become ordering users and browse, order, and track supplies themselves

Access to ZAGENO quickly addressed these pain points and more.

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Results

Within 12 months of using ZAGENO’s marketplace:

  • $326,575/3,585 hours in labor savings, through streamlined vendor setup, consolidated invoicing, and process automation
  • 788 orders placed through ZAGENO with 143 suppliers
  • 91% average delivery time within 3 ESD
  • Visibility into order tracking and burn rate
  • Reduction of unnecessary spending through optimized approval flows
  • Empowerment of R&D to place orders, freeing up Accounting for other valueadded activities

“Streamlining new vendor setups and invoice consolidation were the two core reasons we signed with ZAGENO.”

Senior Accounting Manager

“For both R&D and Finance, ZAGENO has streamlined the procurement process and allowed for ownership on the R&D team to get what they want and be happy.”

Project Champion

If you’d like for your R&D and Accounting teams to stop spending so much time on lab supply ordering, there is a way. Get in touch with ZAGENO today to find out how to turn lab supply procurement from a challenge into a strength.

About ZAGENO

With over 40 million product SKUs available from more than 5,000 leading brands, ZAGENO offers the largest life sciences lab supply marketplace. Our one-stop-shop solution helps scientists, lab managers, and procurement leaders compare products across vendors, easily source product alternatives, track deliveries, and communicate order status with R&D teams in real time. ZAGENO makes online shopping for any research material convenient, efficient, and reliable.

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