PALO ALTO, Calif.--(BUSINESS WIRE)--Science Exchange, the SaaS-enabled marketplace for outsourced research and development (R&D), today announced that it has been named a finalist for the World Procurement Awards. These awards are the most celebrated accolades in procurement, awarded by Procurement Leaders in association with Basware. Alongside leading innovators including GEP, Icertis, Market Dojo, and SpendHQ, Science Exchange is on the shortlist for the Best Procurement Technology award.
Science Exchange was recognized for its source-to-pay platform for R&D services, used by the top pharmaceutical and biotechnology companies to source, order, manage, and pay for outsourced R&D from Science Exchange’s network of 3,000+ prequalified, fully contracted service providers. By using the platform, organizations eliminate project initiation delays and save up to thousands of hours a year. These time savings are crucial in the competitive drug discovery industry, where speed is a requirement for filing and protecting IP as well as getting therapies to patients.
“We are honored that our technology solution, which has helped so many of our clients accelerate breakthrough discovery, has been recognized by Procurement Leaders for the fourth consecutive year,” said Elizabeth Iorns, Ph.D., CEO and Co-Founder of Science Exchange.
The winners of the awards will be announced on May 14, 2020 at the World Procurement Awards Ceremony in London, England. To see a list of all the finalists, visit the World Procurement Awards website.
About Science Exchange
Founded in 2011 in response to the global growth in R&D services, Science Exchange solves the challenges of outsourcing R&D by removing barriers in the outsourcing process – providing companies with instant access to a network of pre-qualified service providers, as well as contracting, project management and reporting tools. The Science Exchange platform increases scientists' access to innovation and improves productivity, freeing them up from the administrative tasks and delays associated with sourcing, establishing and managing service provider contracts. Additionally, the Science Exchange enterprise program enables organizations to consolidate R&D outsourcing spend into a single strategic relationship, driving efficiency and cost savings. Since 2011, Science Exchange has raised more than $70 million from Norwest Venture Partners, Maverick Ventures, Union Square Ventures, Collaborative Fund, Windham Ventures, OATV, the YC Continuity Fund, and others. For more information, visit http://www.scienceexchange.com. Follow the company on Twitter @ScienceExchange.