Agreeable Life Sciences
Digital transformation is helping life sciences organizations accelerate the development and delivery of products, from medicines to medical devices. But one fundamental business process is holding back progress: the agreement process. Because they carry risk of regulatory and legal exposure, contracts and other agreements—made with patients, doctors, researchers, vendors, and other stakeholders—are often still highly manual, paper-based, and tradition-bound. The result is work processes, such as closing supplier deals and getting patient consent, that are needlessly slow, costly, and prone to error. There is a better way to get agreements done, on both the commercial and regulated sides of the business.
Now, thanks to new digital technologies, the entire agreement process can be automated and connected—from preparing an agreement by pulling data from relevant systems, to allowing anytime/anywhere electronic signing, to automatically acting on agreement terms, to managing completed agreements in a single, secure repository. This transformation can cut processing times from weeks to hours or minutes, reduce errors by 88%, save $77 per agreement, and deliver better experiences for everyone involved.
By modernizing agreement processes that are everywhere within life sciences companies, life-saving drugs and devices can get to market faster and business processes can be done smarter.