Veterinary Pharmaceutical Leader Vetoquinol to Support Growth in Nearly 23 Countries on Determine, Inc. Source-to-Pay Cloud Platform
Carmel, IN, December 10, 2018 – Determine, Inc. (NASDAQ: DTRM), a pioneering leader in global Source-to-Pay and Enterprise Contract Lifecycle Management (ECLM) Cloud Platform solutions, today announced that Vetoquinol, the world’s 9th largest veterinary pharmaceutical laboratory, is implementing Source-to-Pay on the Determine Cloud Platform.
Founded in 1933, Vetoquinol is an independent, family-owned company dedicated exclusively to animal health. The company was listed on the Paris Stock Exchange in 2006 to enhance its international reputation, opening its United States headquarters in Fort Worth, Texas three years later.
Today, with 140 distributors, 2,000 employees and a direct presence in 23 countries, Vetoquinol will leverage technology to manage indirect purchasing at an enterprise level — 23 legal entities spread over three continents.
The objectives of the Determine Cloud Platform Source-to-Pay implementation are two-fold: The simplification and optimization of source-to-pay processes as part of a LEAN approach across the entire purchasing-finance chain; and the improvement of team efficiency, including centralizing upstream requirements, reduction of document processing time, process security, etc.
Determine was chosen for its ability to understand and respond to the business and organizational needs of Vetoquinol.
Determine is positioned as a true partner, supporting Vetoquinol over the long term as the Determine Cloud Platform adapts to serve a growing company.”
— Gérard Dahan, Global Chief Revenue and Marketing Officer, Determine, Inc.
For Vetoquinol, depth of experience, a broad knowledgebase and global presence were also decisive factors in choosing Determine.
The Determine team’s deep involvement, expertise and focus on listening are the main reasons behind our choice.”
— Michel Jeanningros, Indirect Purchasing Manager, Vetoquinol
Planned as a two-phase implementation, the project will begin with the deployment of Determine’s modular Procurement and Invoice Management modules to all Vetoquinol entities, and completed in phase two with deployment of the Sourcing module to manage tenders and analysis.
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Vetoquinol is a leading global player in the animal health sector serving both the livestock (cattle and pigs) and pet (dogs and cats) markets. As an independent pure player, Vetoquinol designs, develops and sells veterinary drugs and non-medicinal products in Europe, the Americas and the Asia-Pacific region. Since its foundation in 1933, Vetoquinol has pursued a strategy combining innovation with geographical diversification. The Group’s hybrid growth is driven by the reinforcement of its product portfolio coupled with acquisitions in high potential growth markets. Vetoquinol employs 2,135 people as at September 30, 2018. Vetoquinol has been listed on Euronext Paris since 2006 (symbol: VETO).
Corcentric is a global provider of business spend management and revenue management software and services for mid-market and Fortune 1000 businesses. Corcentric delivers software, advisory services, and payments focused on reducing costs, optimizing working capital, and unlocking revenue. To learn more, please visit corcentric.com.