Vendor management is a core activity in biopharma R&D. As part of clinical trial outsourcing, biopharmaceutical companies spend billions of dollars engaging in complex relationships with service providers such as CROs, central and specialty labs, imaging core labs, and others.
Stakeholders use disparate systems, dashboards assembled in Excel, and multiple systems to find contract and bidding history, all of which make metrics daunting to manage. With increasing pressure to comply with vendor oversight regulations and quality standards, sponsors are demanding faster, data-driven decisions, pushing the frustration with the process to peak levels.
Are you frustrated by:
- Bidding history, contracts, new vendor qualification, and financial information all residing in different departments?
- Producing a “traffic-light” Excel-based dashboard for governance that is expired as soon as the meeting ends?
- Governance meeting preparation that requires hundreds of manhours by multiple stakeholders?
- Vendor operational performance only being managed at the study level in CRO-produced dashboards?
Vendor visibility is key, especially in complex sponsor organizations with multiple global locations, subsidiaries, business units, and departments. VISION brings transparency into the data and delivers many benefits to all the stakeholders.
VISION Benefits
Transparency
- 100% visibility into study specifics, departments, functions, work orders, general contracts
- Central hub for vendor management
- Comprehensive profile management, qualification and performance status
Speed
- >90% elimination of manual activities such as Excel trackers, setting up qualification and performance surveys, scoring, evaluating risk based on criteria, finding information
- 90% reduction in data entry
Communication
- Single source of truth for all stakeholders
- Unite disparate sources of critical data for vendor performance management; operational, financial, contractual IT, security, innovation
Automation and Accessibility
- System integration and cloud-based access
Quality Focus
- >95% risk reduction through alert system on contract expiration, low performance, re-qualification
Savings
- Eliminate duplicate systems, reduce internal effort, low cost SaaS maintenance
- >75% reduction in current cost of centrally managing vendors
VISION is the innovative, fit-for-purpose solution the pharmaceutical industry has been asking for.
VISION’s dynamic vendor portal allows your vendors to create and maintain their own comprehensive profile, eliminating the need for the you, the sponsor, to maintain trackers and multiple systems.
VISION comes in a variety of configurations loaded with features to address the specific needs of small, medium, and large pharmaceutical sponsors.
Vendor Database
- Category management
- Capabilities databank
- Advance search engine
- Document library
- Vendor direct access
New Vendor Qualification
- Targeted RFI and qualification survey capability
- Qualification workflow
- Alert system
Existing Vendor Performance
- Governance Pools
- Contract Management
- Bid and Outsourcing history
- Performance Surveys and KPIs
- Clinical Maestro configures Customer tasks based on requirements
VISION is an integral part of the Clinical Maestro ecosystem of SaaS solutions. Whether seamlessly connected or working as stand-alone applications, Clinical Maestro Sponsor Edition gives you end-to-end outsourcing and vendor management.
The experts at Strategikon developed Clinical Maestro out of a combination of love and frustration. The system was developed and nurtured by financial and clinical business operations executives with both Sponsor and Provider experience. Our founders believed there had to be a better way — and so they created one.
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