SAP NEWSBYTE — May 15, 2024 —SAP SE (NYSE: SAP) today announced that PureTech Scientific LLC, a global leader in the production of glycolic acid products, with a range of uses from skin care to clean and disinfect, has gone live with SAP S/4HANA Cloud Public Edition to position itself for further growth.
Iron Path Capital, a private equity firm that acquired the company in 2023, has significant growth ambitions for PureTech Scientific. The first milestone for PureTech Scientific transformation was the move to the cloud to build a unified technology platform that would fully transition employees, customers and vendors with minimal disruption. Completed in 14 weeks, the implementation has already seen improved operational visibility and more timely transactional discipline.
“The real-time insights and automation PureTech Scientific plans to gain from implementation of SAP S/4HANA Cloud Public Edition will help to streamline our operations and significantly enhance our ability to serve our customers with greater speed and accuracy,” PureTech Scientific CEO James Kanicky said. “This is just the beginning, and we’re excited for the opportunities ahead as we continue to drive growth and innovation with glycolic acid in the personal care and health care markets.”
With its entire ERP now in the cloud, PureTech Scientific, the only North American glycolic acid producer, has real-time insight of its daily production and the ability to employ and automate barcoding. PureTech Scientific is now able to complete SAP goods issue and goods receipt transactions automatically with mobile devices, further reducing time needed for reporting.
“SAP S/4HANA Cloud Public Edition provides a best-in-class foundation for enterprise scalability, security and compliance,” said James Smith, executive advisor for Iron Path Capital and PureTech board member. “After an impressive 14-week implementation, PureTech Scientific is now able to have real-time business analytics and implement industry-best-practice, fit-to-standard workflows. The commencement of digital manufacturing cloud, barcoding and sales cloud capabilities will eliminate manual transactions, automate production recording and material movements, and employ mobile data collection for improved enterprise productivity and customer satisfaction.”
Glycolic acid is used as the core agent in multiple industries, ranging from industrials to life science. PureTech Scientific expects the market to grow 10% CAGR over the next five years. SAP S/4HANA Cloud Public Edition was selected specifically to support PureTech Scientific’s vision for growth. With scalability and integration as top priorities, SAP S/4HANA Cloud Public Edition allows the company to now focus on pursuing growth opportunities in new markets and new capabilities for new and existing customers.
“PureTech Scientific has undergone a significant transformation in the past year,” SAP North America President Lloyd Adams said. “It has completely revamped its ERP system and moved to the cloud. Doing so allows for quick and data-driven business decisions as it enhances its capabilities and deepens its market share in key markets.”
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