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Biotech

How a small biotech increased lab supply orders by 545% while saving 2,900 hours

A startup DNA-based technology company using a freemium lab management solution quickly outgrew its limited number of available PunchOuts. Due to their low GMV, new vendors viewed them as risky and subsequently offered items at unfavorable payment terms and full list price. Invoicing was manual and disorganized, resulting in unpaid invoices that further aggravated vendor relationships. Growth was not possible without a partner to provide access to a wider pool of lab supply vendors offering the same terms and pricing as bigger players. Partnering with ZAGENO early on solved these problems and more.
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Key Facts

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Client

DNA-based digital data storage and computation company located in Boston, MA

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Challenges

Limited lab supply PunchOut options | Unfavorable payment terms, noncompetitive pricing, and chaotic invoicing process

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Solutions

Partner with ZAGENO early on to resolve invoicing issues, provide access to thousands of vendors, save time through automation, and support growth

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Results

Through lab supply purchasing automation, enabled 545% order volume growth and increased vendor pool to 123. Achieved labor savings of 2,915 hours and $237,000 in one year.

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Challenges

PunchOut options inadequate. Supply orders primarily limited to one global distributor.

Viewed as risky by new suppliers. Could not get net 30 payment terms. Forced to pay list price, via credit card.

Lost, unpaid invoices due to manual process. Only some invoices made it to the freemium platform, while others slipped through the cracks.

Growing team needed quick onboarding. Team grew rapidly and experienced attrition. Needed an easy-to-learn platform.

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Solution

Automate the lab supply ordering process and put the company on a level purchasing playing field with larger competitors by replacing their freemium lab management solution with the ZAGENO marketplace.

The one-person operations team needed a solution that would empower the scientists to become ordering users.

Finance needed a solution to facilitate better payment terms and pricing.

Scientists needed a time-saving solution that would give them instant access to a greater pool of qualified suppliers from which to order all of their supplies.

More than just a platform, ZAGENO quickly became a trusted advisor, supporting the client as they grew.

Client case - small biotech saving 2900 hours

Results

Immediately, ZAGENO’s customer service team helped resolve the client’s outstanding lab supply invoices. The client began placing lab supply purchases through ZAGENO, to undeniable results:

  • $237,000 in labor savings in 2023 (31% of spend)
  • 2,915 hours saved in 2023 due to process automation and ZAGENO’s white glove customer service team
  • Number of lab supply vendors used increased from 30 to 123
  • 545% increase in order volume in 3 years
  • Number of ordering users increased from 2 to 16

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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