Revenue Management Solutions in Pharmaceuticals and Biotechnology Reviews and Ratings

What is Revenue Management Solutions in Pharmaceuticals and Biotechnology?

Gartner defines “RMS” as processes and systems associated with a broad array of activities to ensure manufacturers maximize revenue across all distribution channels by minimizing revenue leakage and addressing compliance requirements. Within the LS industry, revenue management is a combination of software and services that manufacturers use to: Address global pricing challenges by identifying industry trends and aligning pricing and access strategies with market needs.; Create and evaluate tender proposals and prepare optimum responses efficiently by equipping tender managers with data and tools to shape tenders and ensure cross-functional collaboration.; Enhance contract management by effectively managing contracts for both direct (wholesalers, retailers, chains) and indirect (group purchasing organizations [GPOs]) purchasers through robust data analytics and reporting.; Eliminate chargeback overpayments by automatically validating contracts and memberships, by processing chargebacks received through electronic data interchange (EDI) rapidly and by eliminating manual error-prone activities.; Mitigate compliance risks by accurately calculating statutory pricing to meet reporting requirements for all federal- and state-regulated programs.; Improve accuracy and efficiency of GTN revenue forecasting and revenue cycle by automating GTN analytics and enabling what-if scenario modeling.; Connect disparate departments by enabling smart workflows that coordinate routing, approvals, alerts and price/contract updates.

Medical device and medical product wholesalers also implement RMS, but their needs extend beyond pharmaceuticals and biotechnology manufacturers. Specifically, medical device companies leverage configure, price and quote (CPQ) solutions, which are not addressed in this Market Guide. This Market Guide is focused on the needs of LS manufacturers and not the needs of other stakeholders in the revenue management distribution chain.

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Model N is a firm specializing in revenue optimization and compliance. Its primary focus is on sectors such as pharmaceutical, medtech, and high-tech innovations. Leveraging an intelligent platform, Model N supports digital transformation processes through integral technology, data, analytical, and expert services. The insight and control provided by these services facilitate decision-making in pricing, incentives, and contracts, enabling businesses to maintain profitable operations and spur revenue growth. Striving towards global reach, Model N operates across over 120 countries and serves sectors such as pharmaceutical, medical technology and high-tech companies.

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Conga is a B2B software solution provide whose contract lifecycle management (CLM); configure, price, and quote (CPQ); document generation; electronic signature; subscription management; and other associated solutions drive predictable revenue by aligning processes, teams, and technology under a unified data model throughout the revenue management lifecycle.

Conga is the aggregate of two SaaS providers, Conga and Apttus. Conga was originally founded to prove what was possible in the space of digital documentation, while Apttus was an innovator in quote-to-cash (QTC) solutions. On May 7, 2020, the companies merged with the goal to provide a comprehensive solution offering to manage the revenue lifecycle. Today, Conga’s global operations span North America, Europe, and Asia.

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Empowering Life Sciences companies to augment income expansion and efficiency is the prime focus. This is achieved by presenting an AI-powered Tender Management system, specifically designed for the Life Sciences sector. The system uses cutting-edge technologies such as Natural Language Processing to uncover more tender opportunities and posits the usage of Market Intelligence and Machine Learning for the purposeful management and evaluation of tender proposals, whilst also identifying ideal pricing strategies. A team of specialists facilitates the metamorphosis of the tendering business process into a methodical, strategic procedure leading to enhanced revenue performance, judicious pricing determinations, and optimal profitability.

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Empowering Life Sciences companies to augment income expansion and efficiency is the prime focus. This is achieved by presenting an AI-powered Tender Management system, specifically designed for the Life Sciences sector. The system uses cutting-edge technologies such as Natural Language Processing to uncover more tender opportunities and posits the usage of Market Intelligence and Machine Learning for the purposeful management and evaluation of tender proposals, whilst also identifying ideal pricing strategies. A team of specialists facilitates the metamorphosis of the tendering business process into a methodical, strategic procedure leading to enhanced revenue performance, judicious pricing determinations, and optimal profitability.

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FBK is a global company that provides Tender Management solutions primarily to manufacturers, suppliers, vendors, and resellers in the Life Sciences and Healthcare sectors. This is built upon more than two and a half decades of experience in creating and integrating Enterprise software level. In the pursuit of specialized market sector, FBK has developed a proficient understanding of Life Sciences and Healthcare issues, enabling it to design its Tender Management solutions with necessary functional features. The organization prides itself on its capable management team and its ability to develop new opportunities. As a testament to its operational standards, FBK holds the ISO 9001:2015 certification.

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Genpact is a global professional services firm that focuses on delivering outcomes that facilitate business transformations. It builds a culture of entrepreneurship and inclusivity among its sizable global team, enabling them to experiment and embrace opportunities. Genpact transforms a client's vision into reality by combining substantial business and industry expertise with innovative and diverse viewpoints. The firm's commitment to innovation involves the utilization of data, tech, and AI services to design, build, and overhaul businesses, thus delivering competitive advantages.

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Vistex is a company that provides solutions for businesses to effectively manage their mission-critical processes which can include various incentive programs such as promotions, rebates, pricing, discounts, and others. Businesses often struggle with the vast quantity of these programs and partner relationships, which can lead to a lack of understanding about where funds are being allocated and how they affect the company's growth. Vistex's offerings allow leaders to gain comprehensive insights about their financial investments and the impact they have, enabling them to understand what strategies are effective and what steps should be taken moving forward.

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Greenman-Pedersen, Inc. (GPI) is an engineering consulting firm established in 1966, with an emphasis on transportation infrastructure and building project solutions. The company offers extensive expertise in the technical and design aspects of engineering projects. Services encompass engineering, design, planning, and construction inspection for government agencies, municipalities, institutions, industries, private organizations, and developers. GPI's areas of specialty include highway engineering, planning and urban design, traffic engineering, bridge engineering, building systems engineering/MEP, survey/LiDAR, GIS/asset management, construction inspection, corrosion protection, landscape architecture, environmental aspects, and laboratory services.

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Greenman-Pedersen, Inc. (GPI) is an engineering consulting firm established in 1966, with an emphasis on transportation infrastructure and building project solutions. The company offers extensive expertise in the technical and design aspects of engineering projects. Services encompass engineering, design, planning, and construction inspection for government agencies, municipalities, institutions, industries, private organizations, and developers. GPI's areas of specialty include highway engineering, planning and urban design, traffic engineering, bridge engineering, building systems engineering/MEP, survey/LiDAR, GIS/asset management, construction inspection, corrosion protection, landscape architecture, environmental aspects, and laboratory services.

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Breakaway Technologies operates as a business performance management firm that focuses on the creation and implementation of tailor-made analytic and business intelligence solutions. By employing modern reporting, planning, and consolidation applications, the company aids various organizations and individuals in various sectors and roles. The prime objective is to help these organizations unlock the valuable insights hidden in their data for a competitive edge, thereby creating enduring value for all stakeholders.

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iContracts is a company offering contract, policy, and revenue management solutions catering to diverse sectors such as Life Sciences, Healthcare, and Education. The firm provides an exhaustive range of fully integrated cloud-based solutions aimed at enhancing collaboration, broadening visibility, mitigating costs, preventing revenue leakage, and boosting performance. The solutions provided by iContracts are driven by a Simplified Common User Interface (SCUI) developed to make any user understand a few core concepts with ease. The suite of solutions provided by the firm revolutionizes how organizations perceive and manage their contract management process, transforming it from a complex system of spreadsheets, customer applications, and scattered electronic directories into a potent tool that synchronizes strategy with execution. Furthermore, these solutions ensure better visibility into commitments and the capacity of companies to adhere to burgeoning needs for regulatory reporting and audits. The solutions offered by iContracts are enterprise-grade and can be seamlessly integrated with any off-the-shelf or custom system to meet specific business requirements.

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iContracts is a company offering contract, policy, and revenue management solutions catering to diverse sectors such as Life Sciences, Healthcare, and Education. The firm provides an exhaustive range of fully integrated cloud-based solutions aimed at enhancing collaboration, broadening visibility, mitigating costs, preventing revenue leakage, and boosting performance. The solutions provided by iContracts are driven by a Simplified Common User Interface (SCUI) developed to make any user understand a few core concepts with ease. The suite of solutions provided by the firm revolutionizes how organizations perceive and manage their contract management process, transforming it from a complex system of spreadsheets, customer applications, and scattered electronic directories into a potent tool that synchronizes strategy with execution. Furthermore, these solutions ensure better visibility into commitments and the capacity of companies to adhere to burgeoning needs for regulatory reporting and audits. The solutions offered by iContracts are enterprise-grade and can be seamlessly integrated with any off-the-shelf or custom system to meet specific business requirements.

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IntegriChain facilitates pharmaceutical manufacturers in commercializing their scientific products, making it accessible and affordable for patients. The firm concentrates on creating a data-centric commercialization platform for pharmaceuticals that integrates strategy and operational execution. Its distinctive focus envelops data, technology, consulting, and outsourcing, linking the commercial, financial, and operational aspects of medicinal accessibility and profitability. By digitalizing routine business practices and integrating data and operations across various sectors such as contracting, pricing, channel and distribution, and gross-to-net, IntegriChain empowers pharmaceutical innovators to achieve superior commercial results.

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Inpharmation is focused on helping pharmaceutical companies harness the most out of their potential with evidence-based strategies. Through the deployment of unique and accurate pricing surveys, they deliver unskewed estimates of a product's pricing potential. Furthermore, Inpharmation uses machine learning and econometrics to analyze previous decisions made by various payers, offering strong predictions of possible pricing potentials. Acknowledging the importance of international reference pricing, they have constructed intricate algorithms to fully comprehend the effect of reference pricing. Additionally, Inpharmation carries out demand market research, with methods tailored and validated for the particularities of the pharmaceutical industry. Their forecasting software uses scientifically backed forecasting principles, allowing users to insert the most robust pharma-validated forecasting techniques into their spreadsheets swiftly.

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Keyrus is a company that assists businesses in leveraging the opportunities offered by Data and Digital technology. The primary objective of Keyrus is to encourage overall enterprise performance and foster transformation. By doing this, they aim to create new growth prospects and increase competitiveness within these businesses.

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The company focuses on enriching both its workforce and its clients by leveraging smarter data applications. A profound expertise in Anaplan services, a business planning and forecasting software, is offered, particularly in the domains of Life Sciences and Consumer Packaged Goods (CPG). The primary mission of the company is to solve the complex problems of its clients using technology solutions and consulting services, enabling them to strategize and take swift actions. The company insists on building a diverse team, believing that the key to unlocking potential lies in reflecting the constantly changing societal patterns within its team. The company holds a firm stand on inclusivity, intending to create an environment where everyone feels encouraged to represent their authentic selves. They also concentrate on community investment and collaboration with organizations for causing transformative changes.

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