Gaining visibility and control in contracts, rights, obligations and partners

This type of collaboration in pharma requires the ability to manage full functionality of the R&R process beyond contract management. If your teams continue to manage in silos with legacy manual processes, you’re risking more than just revenue leakage. 

Lack of insight into royalty and patent usage and availability reporting with data coming in and going out (involving third parties) doesn’t provide the 360° visibility and full transparency you need to remain a trusted partner. Most likely your partner doesn’t have the required single source of truth capability to gain your trust either. You’ll find the need to track milestones that include events and triggers to ensure timely payments and accurate reporting. Without an easy way to interact with your partners in all functionalities including forecasting, sales and full transparent reporting, you can see why trust becomes an issue that is easily avoidable by consolidating and operating with a single source of truth. When you add this up, you’ll realize that your processes are not only cumbersome but also expensive due to the multiple resources, interfaces and systems needed to properly manage complex collaborations.