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ICM for Pharmaceuticals and Biotech [Datasheet]

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Enterprise Contract Management for the Pharmaceutical and Biotech Industries With the Icertis Contract Management (ICM) platform, leading pharmaceutical and biotech companies are accelerating drug trials while improving compliance in a tightly regulated, global industry. More than a dozen leading pharmaceutical companies, including five of the top seven in the world, have turned to the Icertis Contract Management (ICM) platform to address these challenges. ICM's capabilities include: • Direct and indirect procurement contract management, integration with enterprise P2P systems, and the ability to track price and volume variance across the supply chain • Sourcing functionality including RFx management, events, bidding, evaluation and awarding, as well as live auctions • Full contract lifecycle management surrounding clinical trials including site CDAs, Clinical Trial Agreements, budget sheets, site/CRO collaboration, budget consumption, and payment tracking • External expert contracting, event contracting, and tracking of compliance and payment • 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 (PBMs) T h e S O L U T I O N T h e C h a L L e N g e 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. In working with some of the world's largest pharma companies, Icertis has identified common contracting challenges: • Managing and budgeting for clinical trials is complicated by complex regulations and specialized contracting requirements, such as external expert engagement • Non-standardized processes and disconnected systems reduce visibility across the enterprise • A lack of agility in sales programs makes it difficult to respond to changing regulatory or commercial requirements • Poor integration between contracts and other enterprise processes impedes tracking of rebate/claim settlement in channels and budget/Fair Market Value tracking in trials Icertis, the leading enterprise contract management platform in the cloud, solves the hardest contract management problems on the easiest to use platform. With Icertis, companies accelerate their business by increasing contract velocity, protect against risk by ensuring regulatory and policy compliance, and optimize their commercial relationships by maximizing revenue and reducing costs. The AI-infused Icertis Contract Management (ICM) platform is used by companies like 3M, Airbus, Cognizant, Daimler, Microsoft and Sanofi to manage 5.7 million contracts in 40+ languages across 90+ countries.

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