Clinical-stage biotechnology company, California
A clinical-stage biotechnology company in California with 500 employees and $120M annual revenue faced
critical financial operational challenges that threatened regulatory compliance and cash flow management.
Financial Impact:
Legacy system caused 40% payment delays, <10% electronic payments, manual processes, poor spending visibility, and regulatory compliance risks.
<5%
Late payments (reduced from 40%)
>85%
Electronic payment adoption (increased from <10%)
85%+
Process automation across P2P workflows
100%
Regulatory compliance with full audit trails
Real-time
Vendor communication via centralized portal
<5%
Late payments (reduced from 40%)
>85%
Electronic payment adoption (increased from <10%)
85%+
Process automation across P2P workflows
100%
Regulatory compliance with full audit trails
Real-time
Vendor communication via centralized portal
Goals
- Implement streamlined P2P processes with automated workflows
- Transition to electronic payment systems for improved cash flow
- Establish robust approval controls and audit capabilities
- Create comprehensive analytics dashboard for financial insights
- Improve communication and reduce processing friction
Our Solution
- Streamlined P2P Process: Redesigned procurement-to-pay workflows with automated routing
- Electronic Payment System: Integrated automated ACH processing and payment controls
- Analytics Dashboard: Built real-time spending visibility and custom reporting
- Vendor Portal: Created centralized communication hub for improved relations
- Compliance Controls: Implemented multi-tier approvals with full audit trails
Results
75% reduction in late payments (40% to <5%)
850% increase in electronic payments (10% to 95%)
85% process automation with automated
supplier follow-ups
75% reduction in maverick spending through improved controls
100% regulatory compliance achieved with full audit capabilities
Related and Recent Case Studies
Case Study
How We Eliminated 40% Payment Delays and Automated 85% of Processes for a Leading Biotech Company
Case Study
How We Reduced Reimbursement Cycles by 60% and Achieved 100% Digital Processing for a Leading Frozen Food Manufacturer
Case Study
Into a Complete Procurement Revolution: 60% Faster Processing with Zero Manual Errors
Case Study
Delivered 62% Cost Savings Through Finance Operations Outsourcing, Extending Series B Runway While Boosting Operational Excellence
Case Study
Multiple biotech start-up companies, California, USA
Case Study
Global large pharma company, California, USA
Case Study
Case Study
Case Study
Case Study
Case Study
Case Study
Hear from our customers who transformed their Finance
processes with Buying Simplified
Quality work product at an exceptional price with a great attitude!
You are great at your work. I want you to add a little more to your plate.
Buying Simplified team provided us the ability to increase our cash runway by providing end-to-end Procurement and payment services at half the cost of hiring resources internally. Excellent team, service and SLAs
With the help of Buying Simplified, we could leverage our S2P system better and increase its adoption across all business units for better user experience in the finance and procurement workflow
