Practical tips for procurement and finance
Are your lab managers constantly complaining about critical research delays because supplies didn’t arrive on time? As a biotech CFO or controller, you’ve likely witnessed how a single missing reagent can derail weeks of research, costing thousands in lost productivity and pushing back critical milestones. For growing biotech companies scaling from 50 to 250 employees,… Continue reading Biotech Procurement Automation: 7 Ways to Streamline Lab Supply Management
Are your lab managers constantly complaining about critical research delays because supplies didn’t arrive on time? As a biotech CFO or controller, you’ve likely witnessed how a single missing reagent can derail weeks of research, costing thousands in lost productivity and pushing back critical milestones. For growing biotech companies scaling from 50 to 250 employees,… Continue reading Biotech Procurement Automation: 7 Ways to Streamline Lab Supply Management
Biotech CFOs and procurement managers are losing sleep over the same nightmare: a compliance audit that uncovers serious procurement violations leading to costly penalties, compromised research integrity, or worse, patient safety issues. While your scientists focus on groundbreaking breakthroughs, your procurement team or lab managers are quietly battling a complex web of regulatory requirements that… Continue reading Biotech Procurement Compliance: How to Build Audit-Ready Processes Without Slowing Down Research
As a lab manager, you’re likely all too familiar with the frustration of tracking down missing reagents, discovering duplicate orders, or dealing with unexpected stockouts that delay critical research. If your lab is still relying on spreadsheets to manage supplies, you’re not alone, but your lab operations are also not operating at peak efficiency. Why… Continue reading Lab Supply Procurement Software: A Lab Manager’s Guide to Ditching Spreadsheets
In today’s business environment and technology that evolves extremely rapidly, the role of the CFO has dramatically changed. In the past, they have been financial gurus behind the scenes and now are forward-thinking team leaders and visionary. Also, CFOs must be involved in strategies and all aspects of the company’s operations. Knowing all of that… Continue reading 10 habits of highly successful CFO’s
Is your Accounts payables team struggling with matching invoices with purchase orders and receipts (a.k.a three-way match)? Do you know that by automating the three-way matching process, the accounts payable team can reduce the time spent on processing invoices by 30%? Yes, 30% productivity improvement for the accounts payable department. Curious as to how to… Continue reading How to Implement a 3-Way Match Process
Lowering operating costs shouldn’t only be CFO’s (Chief Financial officer) job. Unfortunately, in most companies, that turns out to be CFO’s main priority given the corporate mandate. But for the savings to stick, CFO’s need to have cost reduction as a repeatable and sustainable process. We urge CFO’s to view cost reduction and especially operating… Continue reading Lowering operating costs in 2019 – Strategies for mid-market companies CFO’s
Curious about Procurement Salary benchmarks? We are also and we will be answering most of your questions around salary benchmarks. There are primarily two reasons we are covering Procurement salary benchmarks 1. Providing A Baseline For Procurement Professionals As you know most of our readers are procurement professionals, and if you are reading this chances… Continue reading Procurement Salary Benchmarks [2010-2018]
In many companies, procurement and finance often work separately, each with its own goals. But it’s important to understand their vital roles in the procure-to-pay (P2P) process. Without proper teamwork between them, your business might miss important opportunities. Today, businesses are realizing the benefits of closer collaboration between procurement and finance. That’s why, in this… Continue reading 9 Ways To Increase Procurement And Finance Collaboration [Complete Guide]
Bonus Material: Free Purchasing Policy Template Looking to control cost and get better cash flow visibility? Are you looking to implement a new purchasing policy? Then this strategy would help you implement a purchasing policy that not only helps control cost but also helps with setting up your company procurement process for growth. In this… Continue reading Purchasing Policy Guide for CFO’s [Template Included]
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