Research Material Management Solutions

Penny’s Research Material Management solution that brings all members in sync in real-time.

Research Material Management Solutions

Your performance and findings in the lab are closely linked to monitoring and managing costs. When you allow research scientists to spend their valuable time on science rather than budget management, you’ll likely achieve your goals faster than imagined.

You can get ahead of the game by implementing Penny’s Research Material Management solution that brings all members in sync in real-time. Whether your employees are on-site or halfway across the world, you need to have everyone on the same page in order to work efficiently. Penny’s Research Material Management is a seamless solution that does exactly that.

Get The Best Out Of Your Resources

The engine that drives lab output is a well-functioning supply chain. When it’s working properly, efficient procurement frees scientists of the stress and expense that comes as a consequence of supply shortages. Working on correcting procurement errors takes valuable time that could’ve been spent on maximizing lab output. However, mistakes happen, and you need to fix them to acquire optimal results. Instead of using your scientists, you can utilize our Research Material Management solution.

Move Quickly

Agile procurement and research material management helps your lab scale and grow as quickly (or slowly) as needed. At Penny, our tool for managing lab material provides you insights that will boost your productivity and minimize your costs toward attaining your objectives in a timely manner.

Laser Focus On What Matters Most

Conducting research and working in a lab is no joke. It requires all of your team’s focus, energy, and time to acquire reliable, actionable findings. In such an environment where precision is vital, it’s wiser to leave research material management to an automated solution like Penny’s.

Stay On Top Of Every Minor, Major Event In Your System

As the intelligence center of your enterprise, our solution’s reporting and expenditure insights streamline your operation and pinpoint areas toward improving your process and reducing waste across the lab.

Establish Effective Collaboration

Using Penny’s Research Material Management, you can procure goods from vendors and showcase them in collections and exhibitions or ask your preferred vendor to provide their own goods.

With Penny, You Can Also:

Frequently Asked Questions

Penny is a cloud-based Procure-To-Pay system. penny helps you digitize and manage your full procurement cycle from request to approval. Manage RFQs to vendors, compare quotations, send POs and even payment. penny was designed to make things easy and consolidate all of your organization’s spending needs into one intelligent system.

  • Allocate, manage and monitor budgets by expense accounts, projects, departments, location, teams..etc 
  • Streamlining procurement means requests, approvals, and POs won’t be lost in emails or offline.  
  • History and records of requests and purchases can be extracted and tracked easily via the platform. 
  • Product requests are more accurate through the catalog, and hence avoid purchasing mistakes.
  • Reports and analysis can be extracted from the platform, giving you a consolidated data center for all your procurement activities.
  • penny is cloud-based and an easy to use platform. The action-board gives your team a user-friendly and simple experience.

Yes, penny is designed to handle complex procurement operations. We make EVERYTHING simple. Via the contract management feature, you can set the terms and conditions of your contract, and the system will recognize the products and the vendors of your request and match it with specified terms of your contract. Easy.

Putting you in control of your spending is integral to our mission. penny allows you to create Expense Accounts that match your P&L, and assign budgets to them. For example, you can assign $X for your “Travel Budget” and reflect on the budget before approving a travel request. In addition, penny allows you to set budgets for cost centers like projects, departments, locations, and so much more. With penny, you can extract reports and view your spend per Expense Accounts or cost center.

Yes. If your product search finds no results, you can submit a non-standard request.

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