Alchemy's 2020 Product Plan

We have lots of thought leadership pieces on the Alchemy blog, but I thought it would be valuable to provide concrete insights into the product we are building and how it works.

As Alchemy’s chief product officer, my job is to have a product plan that will enable Alchemy to realize its corporate vision. We work against this plan internally, communicate it to those in our ecosystem, and deploy it at chemical companies who share our vision.

The Vision. Simply put, we create software for chemical companies to speed product development and improve service delivery, so chemical companies can work smarter, faster and sell more.

The Plan. We have four core product pillars for 2020 and all our product initiatives fall in one of these categories. We are laser focused on building out best in class offerings that address:

• Electronic Lab Notebook (ELN) as the core enabler for hypothesis-testing, formulating, testing, analyses, customer testing and ultimately in-market feedback. Imagine if your ELN made it easy to enter, analyze and visualize your lab data, had automated data entry, auto-generated analyses and reporting, and enabled sophisticated search and reuse of data.
• In-App Digital Collaboration to facilitate multiple people across functions, groups, shifts, locations and/or time zones to work seamlessly together in a shared digital workspace.
• Lab Project Management enabled by lab workflow automation that speeds up project delivery, increases your lab capacity, and provides automated visibility to every project.
• Sample to Sale Optimization via automation and real-time visibility to the number and status of samples that are out, what the feedback was and what % converted to business.

I plan to do a deep dive on each of these pillars in subsequent quarterly posts.

First up will be ELN because lab and technical service work is core to any chemical company’s operations. Servicing products that are in the market is the key to sales today and new product development is the engine of future growth. Here’s a short teaser.

The Problem. Despite being a mission-critical activity, many chemists do their formulating and testing work with the support of Microsoft Excel and a paper lab notebook for notes. This is often the case even when their company has legacy ELN software in place, resulting in unnecessary costs, delays, lower lab capacity and no data repository for predictive chemistry in the future.

A Better ELN Experience. At Alchemy we have a different vision for this entire ELN experience. We digitize core lab workflows and embed ELN into them to speed product development and improve service delivery, so chemical companies can generate more revenue on the same cost base and build out an AI-ready dataset required for predictive chemistry.

I look forward to sharing a deep dive on how and why in my next post.