Hunting Mice While the Elephants Run WildDOWNLOAD WHITEPAPER
The pharmaceutical and life sciences industry today faces challenges on many fronts: The pipeline of blockbuster drugs is drying up, the cost of developing new drugs keeps rising, pressure from payers and policymakers is increasing, and maintaining R&D productivity is always difficult. As a result, companies must find ways to drive down costs and improve operational efficiency—and a close, collaborative relationship with suppliers can be very beneficial.
But this is not easy given the sheer scale, geographical distribution of suppliers, and the numerous downstream subcontractor relationships. What adds to the complexity is the emergence of outsourcing suppliers in the pharmaceutical and life sciences supply chain – from contract research and contract manufacturing to IT and back-office functions.
As the supply chain becomes more services-centric, the traditional, manual approach for contract and supplier management is proving to be inadequate in ensuring that strategic suppliers meet their contractual commitments. This can cause delayed product launches, cost escalations and regulatory issues.
Business processes (e.g. finance & accounting, HR)
Contract research and manufacturing
IT (e.g. application development and maintenance, architecture and engineering support, network, and service desk services)
200,000+ contractual obligations and service levels managed on Sirion
“Modern contract management must go beyond the traditional pre-signature focus.”
“We chose Sirion due to its advanced capabilities for managing complex services contracts post-award.”
Sirion offers an AI-driven, integrated platform for pharma and life sciences companies to manage contracts, performance, invoices and relationships in buy-side services contracts.
Gain complete visibility and control over your contract portfolio through Sirion’s powerful contract repository: Leverage hierarchical document storage, auto-extraction of contract data, and advanced change management capabilities
Easily identify and correct invoicing discrepancies by auto-validating invoice data against underlying contractual obligations and performance data
Improve performance delivery with a comprehensive and automated approach that streamlines the capture, computation and monitoring of obligations and service levels, and link performance to real business impact
Drive improved alignment and collaboration between buyer and supplier teams through a shared view of contract and performance data, and through data-backed relationship governance