How Quantus Streamlined Spend Control With ProcureDesk
Quantus, Inc. is an ISO certified company that provides calibration, certification, environmental monitoring, tech-staffing, and validation services to the life sciences industry. Quantus excels at providing superior customer service and specializes in delivering technical services tailored to meet each customer’s unique needs and requirements. Its compliance and technical services professionals have served customers operating under FDA and ISO regulations and standards since 1998.
Maintaining spend control in a growing company
Quantus, Inc is a leading field service provider to the life sciences industry, and also offers laboratory testing services. Over the last several years, Quantus has grown significantly, with the employee base doubling and the customer base increasing by around 80%.
This growth has led to additional challenges pertaining to spend control, expense management, and forecasting. Quantus needed to ensure that their clients’ needs were being met, while also accurately tracking and controlling the company’s spend.
In the initial, early phase of Quantus, senior management played a hands-on role in day-to-day administrative accounting tasks, including procurement, supplier relationships, account reconciliation, and so on.
As the company grew and an accounting team was brought on, management found it harder to track, manage and control spending. Although Quantus implemented a procurement system, they quickly outgrew the basic features and needed a more robust, scalable end-to-end system.
With our growth came a lot of expenses and procurement challenges. I needed to address the velocity and timing of our spending, manage the number of employees requesting the spend, track and receive the items purchased, and find time to reconcile those transactions.
A scalable cost control system
After out-growing its initial procurement system, the Quantus team realized they needed something more robust, that supported their core requirements of:
- Real-time, detailed spending analysis for budgeting and cost control
- Integrated vendor catalogs and punch-outs with vendors like Amazon.com
- Built-in QuickBooks integration to prevent redundant data entry
That’s when conversations between Quantus and ProcureDesk kicked off.
Quick implementation with ongoing support
ProcureDesk worked closely with the accounting team at Quantus to implement the system. The onboarding process went smoothly, with ProcureDesk integrating without issue into Quantus’ other systems, including its QuickBooks accounting software and with punch-outs for Amazon.
Seamless adoption by employees who embraced the system
Given that the Quantus accounting team had already used a procurement system in the past, the software was readily adopted and the team was comfortable using the system within weeks of implementation.
The tasks that I could formulate and delegate allowed me to free up time and work more strategically with leadership. Using ProcureDesk’s catalog feature, and the PO-matching feature, it’s auto-coding right into our invoices and saving me significant time in the day-to-day.
Controlled spending, streamlined accounting, significant hours saved
For Quantus, the ability to delegate out task-level accounting activities, while still maintaining oversight of spend control, has been invaluable. This enables Quantus management to focus on strategic planning, forecasting, and other high-level financial activities. Since switching to ProcureDesk, Quantus has enjoyed:
- Much-improved spending control systems, forecasting, and budget analysis
- End-to-end, consistent purchasing processes from approval to reconciliation
- A significant reduction in hands-on hours spent on day-to-day financial tasks
Streamlined purchasing with integrated vendor catalogs
One of the most important features for Quantus, and something that other procurement systems couldn’t deliver, was the integration of vendor catalogs into their system. This enabled the day-to-day operations personnel at Quantus, as well as department managers, and customer support agents, to place orders as needed, which were then appropriately categorized for budgeting and spend management purposes.
Spend reviews that feed forecasting
Forecasting is another aspect where ProcureDesk has aided Quantus. Using ProcureDesk, Quantus can review their spend from a budgeting sense, and annually use this to forecast ahead. Quarterly, too, Quantus can track spend and ensure company targets are being met.
Not only do I recommend ProcureDesk as a product, but as a company, it has been fantastic to work with. From the implementation to the ongoing support we receive, we couldn’t have asked for more.
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