Cequent Pharmaceuticals Goes Live with Coupa E-Procurement
News Aug 22, 2007
Chosen for its ease-of-use and features designed specifically for small and mid-size companies, Coupa e-Procurement is now enabling Cequent to exercise greater control of the company’s purchasing practices and streamline its procurement processes.
Cequent is pioneering therapeutics that silence certain genes to prevent and treat a wide range of human diseases—from inflammatory disorders to cancer–based on its advanced proprietary technology, TransKingdom RNA interference (tkRNAi™).
Like most biopharmaceutical companies, Cequent purchases a large number of different consumables and reagents each month. Cequent had managed its orders with more than 50 suppliers through a paper-based, time-intensive process that made it challenging to track purchases and control employee spending.
“We needed an e-procurement solution that would streamline our purchasing process and allow employees to easily purchase items from our preferred suppliers without any training,” said Susie Truong, director of finance and administration, Cequent Pharmaceuticals.
“We can now track which items employees order, what price they pay, and when they receive each order. This is really critical in a high-volume buying environment. With Coupa software, we don’t have the kind of Wild West purchasing environment that is so common at start-up companies,” Troung added.
“We were also impressed by Coupa’s simple, user-friendly approach,” continued Truong. “So many vendors claim that their solutions are geared toward smaller companies, but in reality their software is just too complicated and expensive. After evaluating a number of solutions, we decided that Coupa e-Procurement was the clear choice for an organization of our size that is rapidly growing.”
Coupa’s e-procurement software automates the complete purchasing lifecycle, from employee requisitions for goods or services, approval workflow, and catalog and contract pricing, through purchase order automation, receipt, and delivery.