Case Study: a pharma company achieves faster procurement and better spend visibility with Procol

Facilitation of Spend Under Management and User-friendly Data Visualization by Procol Technologies for a Pharma Company

The pharma company, a global supplier with 120+ employees and an Rs. 86 crore turnover, faced significant procurement challenges. The company lacked a central data repository, struggled with high manual costs and a lengthy, opaque process for collecting supplier quotes, which took up to two business days. To address this, they partnered with Procol to implement an automated procurement solution.

Procol implemented its RFQ and e-auctions platform alongside an automated ERP system, creating a single data repository and a user-friendly spend analytics dashboard. This solution provided end-to-end transparency and automated negotiations, slashing the quote collection turnaround time from 2 days to just 45 minutes. The results for the pharma company included robust cost optimization, stronger supplier participation, and significantly greater control over their expenditure.