We are a rare and unique mid-size strategic sourcing outsourcing and analytics company. Our U.S. and India based team reduce client costs by 1/3rd and cycle time by 50%
KNOXVILLE, Tenn. (PRWEB) October 28, 2017
Today, Lab Procurement Services, LLC, a procurement services company specializing in Lab Procurement Services, LPS, has formed a strategic partnership with Proacure Corp. Proacure’s President, Sanjay Agarwal says:
“We are a rare and unique mid-size strategic sourcing outsourcing and analytics company. The best-shore model with US based experts to help clients on-site and heavy lifting by our India team not only reduces the cost to 1/3rd but also reduces the cycle time by 50%.”
Proacure provides a proof of concept or pilot, usually at a zero-cost basis. The POC enables the client to know our world-class quality, data safeguards, governance standards and anthropological approach to collaboration and communication. We have 100% conversion rates for our POCs.
LPS is a leader in laboratory supply procurement services with clients of all sizes and disciplines including pharma/biomedical research, universities, chemical and analytical laboratories worldwide. LPS was a pioneer in business process outsourcing (BPO) tailored to the laboratory market.
The partnership between LPS and Proacure will provide a platform for transparent, optimized strategic sourcing process delivery, savings realization and enhanced compliance to organizations worldwide.
We plan to offer niche service offerings like how contract governance would help analyze spend and plan a category, understanding the supplier beyond the price, supplier risk management by leveraging big data analytics, savings realization and automating spend analysis through machine learning.
Contract analytics to ensure compliance and cost savings is an important area for bigger organizations sourcing laboratory supplies. The challenge that most companies face is dependency on the vendor to aggregate and analyze the data to determine if savings targets are being met. Which vendor will ever report bad news about itself? This partnership will help provide a transparent analysis and review of contract compliance and savings.
RFP’s that cover portfolios excess of 2 million SKU’s laboratory supplies is a challenge to construct a meaningful market basket. The data often resides with the existing vendor who creates the market basket leaving out competition from other suppliers. This partnership will provide an analytics capability to help with market basket, data insights and supplier bid evaluation to bring savings for our clients.
The LPS - Proacure partnership will leverage data analytics and artificial intelligence to bring insights to enable their clients to make the right procurement decisions in sourcing of the laboratory supplies.