Discover how Sirion enabled improved efficiency, standardization and real-time intelligence in Unilever’s supplier contracts.
Typically, it takes about 12 years for a life sciences company to take a new drug from its lab to drug store shelves. The intervening period is dedicated to drug discovery, R&D, preclinical research, multiphase clinical and bridging trials, followed by regulatory and compliance review and post-market pharmacovigilance. This complete lifecycle of a new drug is underpinned by a global network of suppliers through which life sciences and pharma enterprises source everything – from basic excipients to clinical research support and cold chain logistics services. Relationships with these suppliers are governed by an extensive array of contracts. But pharma and life sciences enterprises cannot afford to lose precious time on administrative tasks related to contracts and procurement and delay the launch of life-saving drugs. Administration overhead is a real factor in drug price, which needs to be driven down to keep medicine accessible to all. In addition, the current set of legacy tools used to manage contracts are not calibrated to surface critical insights into risk elements which could lead to intellectual property leakage, delays in commercialization, or compliance failures.
"Sirion is one of the few contract management systems that can consistently demonstrate an ROI."
Without the ability to automate the creation and administration of contracts, life sciences companies are likely to find themselves in a tight spot, trying to balance their R&D goals with the need to ensure compliance and performance across their supply chain. With Sirion in place, businesses operating in this domain can simplify and automate the complete contracting lifecycle, leverage historical and benchmarking data to strengthen risk controls and power future negotiations, and effectively manage spend to drive down direct and indirect procurement costs.
Gain quick access and visibility into every contract surrounding R&D, clinical trials, and excipient sourcing, including site CDAs, clinical trial agreements, budget sheets, site/CRO collaboration, budget burn, and payments.
Enable intelligent self-service contracting to quickly generate any type of contract to accelerate supplier, contract manufacturer, CRO, and distributor onboarding.
Maintain tight control and enable quick FDA, GCP, EMA compliance reporting through a bird’s eye view of the contracting chain – from source to consumption – between suppliers and subcontractors.
Integrate with enterprise P2P systems, track and analyze price and volume variance across the supply chain, and leverage the subsequent insights to create smarter contracts and negotiate better terms.
Manage and track IP, license, and distribution agreements, including embedded royalty recognition terms, geo-specific pricing structures, and more.
Monitor contractual obligations, service levels, milestones, renewal and expiration dates, and more through a single pane of glass.