Procure-to-Pay for Biotech and Life Sciences
With PLANERGY handling spend management, biotech companies can concentrate on non-spending tasks such as R&D, Clinical Trials and Testing, QA/QC, Intellectual Property Management and Regulatory Compliance.
Biotech & Life Sciences Challenges
The biotech & life sciences sector faces several challenges in the procure-to-pay (P2P) process due to budget constraints, decentralized operations, and regulatory requirements.
Key challenges include:
- Regulatory Compliance
Strict regulations require precise tracking of purchases, supplier qualifications, and documentation to ensure compliance with industry standards like FDA, GMP, and ISO.
- Supplier Management
Biotech companies often work with specialized suppliers, requiring rigorous vetting, performance tracking, and contract management to avoid disruptions in critical supply chains.
- Budget Control
High R&D costs and fluctuating funding make it essential to track budgets in real time and avoid overspending.
- Fragmented Processes
Decentralized purchasing across labs and departments can lead to inefficiencies, lack of visibility, and duplicate or unauthorized spending.
- Complex Approval Workflows
Multiple stakeholders and levels of approval slow down purchasing, especially for high-cost or highly specialized items.
- Inventory Management
Biotech requires careful inventory control to prevent shortages of critical materials and avoid waste due to expiration.
- Data Integration
Difficulty in integrating procurement systems with ERP, financial, and inventory systems can cause delays and errors in reporting and decision-making.
Addressing these challenges requires automation, centralized control, and enhanced visibility to optimize procurement, ensure compliance, and maximize the impact of limited biotech and life sciences resources.
Compliance Made Easy
PLANERGY simplifies compliance by automating policy enforcement, approval workflows, and real-time tracking. It ensures only authorized spending, minimizes errors, and provides audit-ready reports for easy oversight.
- Automated Policy Enforcement – Ensure purchases align with company policies and regulatory requirements.
- Audit-Ready Records – Maintain a transparent, centralized log of all transactions for easy audits.
- Approval Workflows – Control spending with customizable approval processes to prevent unauthorized purchases.
- Real-Time Reporting – Monitor compliance risks with real-time data and insights on spending trends.
Free Up Your Time,
Complete Spending Transparency
Better Control and Transparency of Spending
PLANERGY’s automated spend control ensures real-time budget monitoring, faster approvals, improved compliance, error-free processes, and optimized vendor management for smarter, more efficient spending.
Compliant Purchasing With Pre-Negotiated Pricing From Trusted Suppliers
PLANERGY’s CheckOut and PunchOut features make catalogue purchasing easy by connecting you to pre-approved suppliers like Fisher Scientific. Streamlined ordering with pre-negotiated pricing offers real-time tracking and reporting for better spending control.
Control High Volume, Low Value Ordering
Automated approvals, spending limits, and process digitization help manage high-volume, low-value purchases efficiently, reducing manual tasks and optimizing costs with real-time tracking.
Build Stronger Investor Relationships
PLANERGY helps improve investor relations by providing real-time financial transparency, demonstrating efficient resource use, ensuring compliance, with data-driven real-time reporting.
Budget Tracking & Control in
Real-Time
PLANERGY empowers your organization with instant visibility and control over budgets, ensuring smarter spending decisions and financial stability.
- Instant Budget Visibility – Track spending against budgets in real-time to prevent overspending.
- Granular Budget Control – Set up budgets based on programs, locations, projects, GL codes and more.
- Automated Expense Updates – Budgets update dynamically as purchases are made, ensuring accuracy.
- Data-Driven Decision Making – Gain real-time insights to adjust budgets and optimize financial planning.
Customizable Purchasing Workflows
Monitor and manage every step of your purchasing process with flexible spend management workflows.
- Tailored Approval Processes – Set up multi-level approvals based on roles, departments, or spend thresholds to ensure compliance.
- Automated Workflow Routing – Route purchase requests automatically to the right approvers, reducing delays and manual intervention.
- Custom Rule Configuration – Define business rules for purchase approvals, vendor selection, and budget limits to match your company’s needs.
- Real-Time Status Tracking – Monitor purchase requests, approvals, and order progress with full visibility into the procurement process.
Complete Spend Management
Take full control of your organization’s spending on the PLANERGY platform.
- End-to-End Purchase Control – Manage procurement from request to payment, ensuring full visibility and accountability. Assign spending to the right GL codes and link them directly to specific budgets or projects.
- Real-Time Budget Integration – Track spending against budgets instantly to prevent overspending and improve financial planning.
- Vendor & Contract Management – Centralize supplier information, track contract terms, and ensure compliance with negotiated pricing.
- Greater Visibility: Track approval progress in real time, ensuring transparency and accountability across the entire purchasing process.
Biotech & Life Sciences Case Studies
Explore these case studies to gain insights into effective strategies, challenges overcome, and lessons learned in the pursuit of high-quality, innovation-driven biotech and life sciences advancements.
The biggest benefits of using PLANERGY were definitely the return on investment, the overall implementation process, from start to finish, and user adoption. Using PLANERGY was a no-brainer.
Jorge Herrera, IT Administrator,
Arecibo Observatory
Arecibo Observatory achieves increased spend visibility and accountability with PLANERGY
Arecibo Observatory establishes an organization-wide purchasing management system with PLANERGY.
Delivered streamlined procurement and purchasing processes and full visibility of spend for day to day operations and large scale capital projects alike.
Selux Diagnostics Streamlines Procurement with PLANERGY
Selux Diagnostics optimized purchasing with PLANERGY, eliminating manual processes, reducing approval delays, and enhancing inventory management.
With automated workflows and real-time tracking, the biotech startup improved efficiency, compliance, and scalability—freeing scientists to focus on innovation, not procurement bottlenecks.
With PLANERGY, all of our approved vendors are preloaded into the system. Instead of manually typing orders, we can simply select from a dropdown menu. It’s a huge improvement.
Ben Spears, Lead Chemist,
Selux Diagnostics
"Top Organizations Trust Us, You Can Too."
What Our Biotech & Life Sciences
Customers Are Saying
Before PLANERGY, approvals were a black box—you sent an email and hoped for a response.
With PLANERGY, I knew exactly where my request was in the approval process, and I could follow up efficiently if needed.
Ben Spears
Principal Scientist in Chemistry, SeLux Diagnostics
PLANERGY helped us manage purchasing greatly during restoration projects from damage caused by Hurricane Maria and will definitely help greatly with the rebuild project
Jorge Herrera
IT Administrator, Arecibo Observatory
With PLANERGY records are now much more easy to find with the powerful search and reports.
Paul Smith
Operations Manager, Phoenix Labs
PLANERGY is a key part of the operational process of our company that allows us to run the company with minimal staff.
Deborah Tonge
Director of Finance, Cambridge Epigenetix
PLANERGY has given us a greater visibility on cost tracking and approval by management.
Katie Rios
Corporate Administrator, Streamline Innovations
I love it.. .so easy to use – straight forward – good interface – whoever designed it know’s purchasing! Clever, user-friendly and extremely quick.
David Harding
Purchasing Manager, Cawood Scientific
An excellent easy to use procurement package. I use the historical data a lot to analyse demand.
Paul Taylor
Manager, Cawood Scientific
Before PLANERGY, we’d get emails from accounting at the end of the month asking for documentation on purchases, and we’d have to dig through old emails.
Now, everything is logged automatically, saving us hours of time.
Ben Spears
Principal Scientist in Chemistry, SeLux Diagnostics
In a startup, you have an idea on Monday and want to start working on Tuesday.
Delays in procurement slow down innovation.
With PLANERGY, I could immediately track approvals and push requests through faster when necessary.
Ben Spears
Principal Scientist in Chemistry, SeLux Diagnostics
Better Spend Management
Find out how PLANERGY’s Procure-To-Pay platform can revolutionize your organization’s Spend Management. Schedule a short demo to find out more.
Book a personalized demo to see the PLANERGY procure-to-pay platform for yourself.