Improve speed-to-market, compliance, and collaboration for new drugs with the ICM Clinical Trial Agreement and Budgeting app.
Challenges with Traditional Approaches to Clinical Trials and Budgeting:
Stringent compliance and budgeting requirements have contributed to a 145% increase in the cost of taking a drug to market over the last decade. According to the Association of Clinical Research Professionals, contract and budget negotiations are responsible for 49% of study delays.
A manual contract management process can compound those delays, creating significant business challenges:
- Difficulty in meeting study timelines and milestones
- Inefficiency in responding to supply chain disruption and onboarding
- Difficulty in accurately tracking budgets and consumption
- An increase in the cost of taking a drug to market
- Lack of real-time, end-to-end visibility across the clinical trials process
Benefits of the ICM Clinical Trials and Budgeting app:
The Clinical Trials Agreement and Budgeting app, built on the Icertis Contract Management (ICM) platform, gives sponsors unprecedented control over the contracting lifecycle.
This app enables companies to:
- Reduce contract cycle times by up to 80%
- Improve compliance on agreements
- Easily track clinical trial budget consumption
- Ensure compliance and improve collaboration with CROs and sites
- Gain visibility to contracts across the global enterprise
Icertis’ Leadership in the Pharmaceutical Market