In the dynamic and price-driven life sciences ecosystem, a significant proportion of sales are distributed through indirect channels based on contracts
negotiated between manufacturers and contract organizations. Consequently,
increasing the productivity and transparency of contract management is paramount to achieving competitive advantage and shareholder value.
However, life sciences contracts that include incentives such as back-end rebates and up-front discounts often disregard pre-approved company rule
sets - compounding complexity and risk.
To answer these challenges, leading life sciences companies are recognizing the need for synchronized, enterprise wide pricing and contract management processes. An integrated solution can provide the transparency needed to satisfy auditors, balance pricing with go-to-market strategies, and support sales and finance teams - including accurately predicting margins.
A unified IT platform supporting this solution has the power to align related
processes to enhance profitable growth and lower total cost of ownership.
Life sciences companies that can streamline their pricing and contract management processes - that can move the right products at the right prices, on the right terms and conditions - are the ones that will thrive. And they will continue to seek out enabling technology.