Pharmx announces strategic partnership with Toniq
| Stock | Pharmx Technologies Ltd (PHX.ASX) |
|---|---|
| Release Time | 18 Feb 2025, 10:47 a.m. |
| Price Sensitive | Yes |
Pharmx announces strategic partnership with Toniq
- Pharmx partners with Toniq, the leading provider of pharmacy POS and dispensary software in New Zealand
- Partnership enables pharmacies to access Pharmx's electronic data interchange - Pharmx Gateway
- Pharmx Gateway streamlines pharmacy operations, enhancing ordering accuracy and reducing administrative burdens
Pharmx Technologies Ltd (ASX: PHX) has announced a strategic partnership with Toniq, the leading provider of pharmacy point-of-sale (POS) and dispensary software solutions in New Zealand. Under the terms of the partnership, pharmacies within the Toniq POS network can migrate to the Pharmx electronic data interchange - Pharmx Gateway - enabling real-time inventory ordering, automated eInvoice generation, and seamless supplier connectivity. This partnership also offers Pharmx's supplier customers a broader reach and more opportunities to scale business growth across the ANZ region. For pharmacies, it provides unrivalled efficiency and a focus on patient centricity by erasing time-consuming administrative tasks linked to ordering and inventory management. The Pharmx Gateway was built to streamline pharmacy operations by enhancing ordering accuracy, reducing manual processes, and providing real-time inventory management. Additional features such as automated e-invoice generation and direct supplier connectivity will further minimise administrative burdens and optimise transaction workflows across the supply chain. Pharmx Gateway has demonstrated to save pharmacies an average of 40 minutes per order, which annually can equate to one full-time employee. Pharmx Gateway also saved suppliers approximately 15 minutes in processing time per order. Across Pharmx's strategic partnerships in New Zealand, Pharmx now has 99% coverage of the NZ pharmacy sector, increasing its regional coverage to 99% across both Australia and New Zealand.
The combination of Toniq's Pharmacy Retail footprint and existing workflows with Pharmx's superior technology stack is expected to deliver a large efficiency boost throughout the NZ pharmaceutical supply chain.