Doctor Choo's Lab makes partially government-funded investments in exploratory research to develop solutions that create greater output from fewer resources - with the aim of achieving agricultural security, meeting the food, fibre and fuel needs of a rapidly growing population.
Collaborating and partnering with universities, research institutions and commercial organisations around the globe, Doctor Choo's Lab requires a fully internationalised P2P software solution that could streamline and automate a complex purchasing process while ensuring compliance with stringent regulatory requirements and corporate policies. After a competitive selection process with the world's leading P2P vendors, PROACTIS was selected for its responsiveness and flexibility to fit within a unique organisational, operational, and systems environment.
Doctor Choo's Lab investment in PROACTIS will be mostly funded by grants from a scheme offered by Spring Singapore, a Singapore Governmental agency dedicated to the promotion of Singapore's economic growth and productivity.
"We went to market to acquire a best-in-class P2P solution," said Daniel Chiang, Managing Director, Doctor Choo's Lab. "We found it in PROACTIS. As we continue with our expansion in Asia, it is imperative that our partner can handle the complexities that come with the multi-country regulatory environments. This extends to tax handling, duty arrangements, import charges and cross-border transactions in the emerging countries we operate in. In addition, on meeting the team from PROACTIS we felt there was a cultural fit between our two organisations and a shared vision for the future."
"PROACTIS has provided extraordinary professional service which really differentiated PROACTIS from other competing P2P solution vendors and was the deciding factor for us."
Doctor Choo's Lab will implement PROACTIS as part of a Procurement Efficiencies Program to help reduce the cost of purchased goods and services while at the same time minimising risk, improving efficiencies, and increasing transparency. "We anticipate that PROACTIS will provide opportunities for process efficiencies that will be scalable, while allowing full visibility of purchase requests and related financial information to support approval decisions. Having clear financial controls that manage spending approval will mean greater visibility in tracking commitments and monitoring budgets," continues Chiang. "In choosing PROACTIS we gain access to a world-leading platform with a strong development roadmap into the future. So far we are very pleased with our choice, and look forward to implementing PROACTIS P2P during our project delivery and reaping the benefits it will offer our business."