Sanofi selected the Icertis Contract Intelligence (ICI) platform as its contracting foundation.

With the Icertis Contract Intelligence (ICI) platform, leading pharmaceutical and biotech companies are accelerating drug trials while improving compliance in a tightly regulated, global industry.

Common challenges.

Today’s pharmaceutical and biotech companies are grappling with complex drug trial processes, highly regulated promotional programs, and complex supply chains. At the heart of all these challenges are contracts.

Ultimately, we find that pharmaceutical and biotech companies face a broad set of contract challenges that span R&D, sourcing, sales and promotions. If left unaddressed, these challenges can lead to serious delays in bringing a drug to market, raise the risk of major fines for non-compliance, and reduced profits due to sourcing inefficiencies.

In working with some of the world’s largest pharmaceutical and biotech companies, Icertis has identified a number of common contracting challenges:

  • Successful research and development is critical for success, but managing and budgeting for clinical trials is complicated by complex regulations and specialized contracting requirements
  • Global operations present compliance challenges as each jurisdiction has its own rules and regulations around drug development and sales
  • Non-standardized processes and disconnected systems reduce visibility across the enterprise, impeding governance and compliance: purchase price variance, projected vs. actual volumes, standardized terms, rationalized suppliers, etc.
  • A lack of agility in sales programs makes it difficult to respond to changing regulatory or commercial requirements
  • Lack of integration with other enterprise processes impedes tracking of rebate/ claim settlement in channels and budget/ Fair Market Value tracking in trials
  • Lack of insight into contracts with external experts for speaking events, webinars, research collaboration, physician participation raises regulatory risk and impedes effective budget tracking

The Icertis solution.

Icertis has implemented Contract Lifecycle Management (CLM) solutions for more than a dozen pharmaceutical and biotech companies, including five of the top seven in the world.

While the ICI solution is ultimately configured for each customer, our CLM for pharmaceutical and biotech capabilities include:

including direct and indirect procurement contract management, integration with enterprise P2P systems, and the ability to track price and volume variance across the supply chain

surrounding clinical trials including site CDAs, Clinical Trial Agreements, budget sheets, site/CRO collaboration, budget consumption, and payment tracking

including RFx management, events, bidding, evaluation and awarding, as well as live auctions (including English, Dutch, FPSB and SPSB)

Region-specific clause management to ensure compliance in global operations

event contracting, and tracking of compliance and payment

including full management and tracking of license agreements with tiered royalty structures based on country-specific sales and rebate agreements with distributors and pharmacy benefit managers

Icertis’ pharmaceutical and biotech solutions offer unmatched benefits across the entire enterprise. We handle all contract types, have integration adapters for other enterprise systems, and can ensure that companies continue to maximize the value of their contracts long after each one is signed.

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