KUALA LUMPUR, Dec 6 -- Kyriba and Scientist.com strategic partnership has led to the creation of SciPay™, an early payment platform for suppliers of pharmaceutical R&D services.
Kyriba supply chain finance technology helps Scientist.com make early payment options available to all R&D suppliers, according to a statement.
Over 3,100 Scientist.com’s signed suppliers now have the ability to choose from multiple early payment options, use dynamic discounting and manage invoices online.
Suppliers can even choose to receive payment the same day, an advantage previously only available to large suppliers.
“Scientist.com is improving the medical research process with SciPay, an innovative application of working capital technology that enables faster access to capital,” said Kyriba chairman and chief executive officer, Jean-Luc Robert.
“This is an excellent use case of how organisations can leverage Kyriba’s SaaS technology to deliver transformative results with minimal startup costs.”
Launched six months ago, SciPay’s initial results have been impressive with more than 95 per cent of payments made on time; 50 per cent reduction of the procurement process lifecycle; 60-day reduction in payment terms and US$4 million in early payments to suppliers. (US$1 = RM4.16)
Kyriba is the global leader in cloud treasury and finance solutions while Scientist.com is the world's leading marketplace for outsourced R&D. More information https://www.kyriba.com.
-- BERNAMA
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