RESEARCH TRIANGLE PARK, N.C., Aug. 28, 2018 (GLOBE NEWSWIRE) -- JAGGAER, the world’s largest independent spend management company, today announces a partnership with Science Exchange, the leading marketplace for outsourced R&D™, to serve the life sciences, pharmaceutical, healthcare, higher education, food science, agrisciences, chemicals, cosmetic, and any industry that relies on scientific research. Collectively the two companies will deliver a complete source to pay (S2P) solution for goods and scientific services procurement, specifically tailored to the needs of research intensive companies.
The formal relationship grew out of series of engagements with shared customers that includes international pharmaceutical companies, science labs and biopharmaceutical companies. Both JAGGAER and Science Exchange conduct business on a global basis.
“Science Exchange has experienced much success when integrating with JAGGAER’s Source to Pay solution; we decided to expand the relationship because of the huge market opportunity we identified. Both companies have a shared legacy in serving the life sciences industry, and as a rapidly expanding company, we are aligning with organizations that have a similar high growth path,” says Elizabeth Iorns, Founder and CEO of Science Exchange.
“We have a tremendous amount of existing and potential customer overlap with Science Exchange and together we offer the large global market a truly seamless and integrated solution for managing all spend, including materials and services, with highly specialized tools designed specifically for the research environment. There is truly no other competitive bundled offering within the science research space that can rival what we have assembled,” says Rob Bonavito, CEO, JAGGAER.
JAGGAER’s industry leading solutions include Spend Analytics, eProcurement, Accounts Payable, Inventory Control, Sourcing, Contract Lifecycle Management and Supplier Management, powered by a dedicated network of 385,000 suppliers assembled specifically for the needs of life sciences companies. Additionally, JAGGAER offers the unique Enterprise Reagent Manager (ERM) solution, developed for scientific staff throughout healthcare and life sciences organizations to find, source and track materials from a single application. ERM also optimizes chemical inventory use and promotes regulatory compliance while managing the risks associated with hazardous materials.
Science Exchange provides an efficient source-to-pay platform for ordering 6,000+ services from a network of more than 2,500 qualified research providers, all with pre-established contracts in place that protect client intellectual property and confidentiality. The platform increases access to innovation and improves productivity, freeing scientists from administrative tasks and delays associated with sourcing and managing service provider contracts. Additionally, the Science Exchange enterprise offering enables large R&D organizations to consolidate research outsourcing spend into a single strategic relationship, driving further efficiency, transparency, and cost savings.
About JAGGAER: Global Source to Pay Spend Management Solutions
JAGGAER is the world’s largest independent spend management company, with nearly 2000 customers connected to a network of 3.7 million suppliers in 70 countries, served by offices located in North America, Latin America, throughout Europe, the United Kingdom, Australia, Asia, and the Middle East. JAGGAER offers complete SaaS-based Source to Pay eProcurement solutions with advanced Spend Analytics, Sourcing, Supplier Management, Contract Lifecycle Management, Savings Tracking, and intelligent workflow capabilities. JAGGAER has pioneered spend solutions for over two decades and continues to lead the innovation curve by listening to customers and analyzing the market. Our solution suites are trusted by the world’s largest manufacturing, education, health care, retail, consumer package goods, logistics, construction, utilities companies and public service organizations. Additionally, JAGGAER holds 38 patents–more than any other spend management company. www.JAGGAER.com
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About Science Exchange:
Science Exchange is the world's leading marketplace for outsourced R&D™, providing large R&D organizations with the fastest path from discovery through development and commercialization. Since being founded in 2011, Science Exchange has raised more than $58 million from Norwest Venture Partners, Maverick Capital Ventures, Union Square Ventures, Collaborative Fund, Index Ventures, OATV, the YC Continuity Fund, and others. For more information, visit www.ScienceExchange.com. Follow the company on Twitter @ScienceExchange, Facebook, and LinkedIn.
MEDIA CONTACT JAGGEAR:
news@JAGGAER.com
919-659-2601
MEDIA CONTACT SCIENCE EXCHANGE:
Rob Mihalko
press@scienceexchange.com
650-772-4300