SOMERSET, N.J. / LONDON– October 21, 2014 – Alliance Life Sciences Consulting Group, a leading global life sciences consultancy and technology provider, announces the release of its White Paper “Silos to Synergy: Optimizing Contract Management and Operations.” The paper explores common pitfalls the Managed Markets division of pharmaceutical manufacturers experience in achieving synergistic operations and methods of resolution, with specific focus on increased communication and revenue management system optimization.
Co-author of the paper,Lois Byra, vice president of Contracting and Pricing Solutions, Alliance Life Sciences’ , says, “Effective contract management hinges upon ensuring that optimal controls are in place. While maintaining a status quo is easy, too often it comes at the expense of profitability.”
Byra emphasizes that if process shortcomings are left unattended or overlooked, a business can encounter compliance issues, misallocated time and resources, and suffer extensive financial losses.
“Failure to establish a robust communication process is often a common shortfall of many manufacturers,” she notes.
The paper stresses that due to minor oversights in the initial stages of paper contracts, organizations often trigger a ripple effect that results in significant downstream consequences. However, with proper configuration, realistic contract strategies, and efficient processes, a manufacturer can see the true benefits.
- Readers will gain insights related to:
- Contract strategies and language
- Optimal setup and maintenance of a revenue management system
- Downstream implications
- Communication with business partners
“It is imperative for those implementing contract strategies to work harmoniously with all divisions of the organization,” concludes Byra.