PALO ALTO, CA, March 28, 2019 – Science Exchange, the leading R&D Services Management company, today announced that it has been named a finalist for the World Procurement Awards.
These awards are the most celebrated and sought-after accolades in procurement, awarded by Procurement Leaders in association with SAP Ariba. Alongside industry leaders GEP, Ivalua, Thomson Reuters, and Tradeshift, Science Exchange is on the shortlist for the Best Procure-to-Pay (P2P) Specialist Provider award.
Science Exchange was recognized for its P2P platform for R&D services. Science Exchange’s shortlisted award submission was based on a case study in which FORMA Therapeutics, the integrated drug development and discovery company, used the Science Exchange platform to manage R&D services spend, achieving time and cost savings. The FORMA team routed ~80% of their R&D services spend onto the Science Exchange platform, eliminating administrative burdens and increasing the ROI of their external R&D programs.
“We are proud that the work we are doing with our clients to help accelerate scientific breakthroughs has been recognized by Procurement Leaders, for the third consecutive year,” said Elizabeth Iorns, Ph.D., CEO and Co-Founder of Science Exchange. “Accessing external innovation has become a growing component of our clients’ R&D strategies; however, administrative burdens can prevent R&D teams from implementing best practices. Our solution lifts these burdens by providing a fully integrated R&D services management solution across the enterprise.”
The winners of the awards will be announced on May 16, 2019 at the World Procurement Awards Ceremony in London, England. To see a list of all the finalists, visit the World Procurement Awards website.