How Canadian Plasma Resources was able to slash its PO processing time by over 90%
Overview
Canadian Plasma Resources (CPR) is a blood establishment company specializing in the collection of source plasma at multiple locations throughout Canada.
CPR was using a combination of MS Word, PDFs and signature collection software to manage its purchasing processes which became more challenging as the company grew. With faster growth ahead, the company’s Chief Operating Officer Reza Shojaei knew they needed a more streamlined solution and found Spendwise.
Since implementing Spendwise, the company has been able to improve processing times by over 90% and significantly reduce inaccuracies and errors resulting in huge cost savings and happier staff.
Industry
Biotechnology
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Company Size
201-500 employees
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Location
Ontario, Canada
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Website
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Key Outcomes
>90%
Faster Processing
ACCURACY
Fewer Errors
HAPPIER
Staff
The Challenges
Prior to implementing Spendwise, CPR used a combination of paper, MS Word, PDFs and signature collection software to manage its purchasing processes. While this approach met the company’s needs early on, over time it became more difficult to manage.
For example, it was taking at least three days for purchase order requests to be processed and approved. This long processing time was the result of time spent manually preparing the purchase order request and chasing down approvals.
Reza explains: “It took so much time and effort to create the purchase order request and get it approved. There were problems with keeping track of who signed it, who still needed to sign it and reminding people to sign it.”
In addition, the company was finding that its manual processes were prone to inaccuracies and errors resulting in other costs and delays.
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Why CPR chose Spendwise
Once the company decided that it was time to replace its manual processes with a cloud-based electronic system, Reza began the search for a solution and after researching different options, narrowed it down to a shortlist of three to choose from.
In considering different options, the company was primarily focused on finding a system that: i) was affordable, ii) had the features it needed, iii) integrated with its accounting software, and iv) was easy to implement and use.
After contacting vendors on the shortlist and evaluating what they had to offer, CPR chose Spendwise.
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“Spendwise provided exactly what we needed at a fair price. We didn’t want to overpay for a complicated system that had a lot of extra features that we wouldn’t be using."
– Reza Shojaei, Chief Operating Officer
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The Results
Getting started with Spendwise was quick and easy.
“It was a very smooth process. The Spendwise team helped us configure the system based on our needs and then we did some testing to make sure everything was working the way we wanted it to”, Reza explains, adding that “other systems can take months to implement, but with Spendwise it was very quick and we were able to start using it within a few weeks.”
Following a successful implementation at its Saskatoon location, the company rolled Spendwise out to all of its other locations.
Over 90% faster processing
By implementing Spendwise, CPR was able to cut purchase order processing time down from over three days to within a couple of hours.
“Before we started to use Spendwise, it took at least three days for each purchase order request to be processed but now it can be done within a couple of hours."
– Reza Shojaei, Chief Operating Officer
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Increased accuracy
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With Spendwise, CPR has been able to significantly improve accuracy in its purchasing processes.
“When you are working with manual processes there is always going to be a greater risk for error. For a while we were able to manage, but as we grew we knew we needed to take a different approach before it got out of control”, Reza explains. “With Spendwise we were able to significantly improve the accuracy rate of our purchase orders and purchasing activities in general.”
Happier staff
Using Spendwise has allowed the company to streamline an otherwise tedious process which has led to higher employee morale.
“Staff are happier now that they are able to efficiently manage purchasing activities all in one place. They no longer have to deal with all of the different software programs and manual processes we were using before,”, explains Reza.
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