Contract Management Software (CLM) for
Pharmaceutical and Medical Industries

Contract-Management-(CLM)-in-Pharmaceutical-&-Medical-Industry

Smart Contract Management Is Essential For Pharmaceutical & Medical Contracts

contract-pharma

Procurement, testing & commercial operations in the medical & pharmaceutical industries are contract-heavy and involve multiple stakeholders. The stringent compliance requirements in this sector can also be overwhelming for businesses. Here’s where smart CLM can help.

  • Buy and sell-side contracts are managed and tracked on a smart dashboard with real-time alerts for status changes
  • The compliance burden is significantly lowered due to robust virtual audit trails, and all stakeholders are provided with real-time risk estimates
  • Contracts are frequently delayed or misplaced due to increasing complexities and frayed lines of communication, smart CLM offers a smart dashboard & centralized storage to increase visibility and improve collaboration
  • The entire contracting process for buy-side, sell-side, and testing operations is automated from end-to-end. Managers and executives view & track contracts and user profiles in real-time to expedite pharmaceutical contracts

Contract Management Challenges In Pharmaceuticals

medical-contract-management-software

Increasing complexities, compliance requirements, and the need to co-ordinate between mutiple suppliers, researchers, testers, and executives; result in numerous challenges for businesses in the medical & pharmaceutical sectors.

  • Several hundreds of contracts need to be tracked and updated as part of day-to-day operations. Several stakeholders also need to be kept in the loop.
  • The inability to scale contracting results in numerous delays in crucial processes, leading to loss of business and reputation. Contarcts are also lost or misplaced frequently.
  • Businesses are often unaware of how to allocate resources for contract management, resulting in value loss and inefficiencies. Businesses typically create entire teams to manage contracts, causing friction and poor documentation.
  • Due to a lack of visibility, contracts are often riddled with errors and take too long to push to the subsequent stages. This results in mismatches between business expectations and results.
  • The lack of transparency causes lapses in communication & compliance, resulting in productivity loss & massive fines.

Smart Contract Lifecycle Management (CLM): One-Stop Solution for Pharmaceuticals

pharma-contract-management

An efficient clm tool is capable of more than just generating and executing contracts; CLM software also allows for real-time online negotiation on provisions, contract approvals, and eSigning.

  • Contracts are generated en masse using smart clause suggest or template libraries, and tracked on a smart dashboard. This enables CLM software to streamline contract generation.
  • Medical contract management software keeps all stakeholders updated with real-time alerts for contract status and edits. Legal & operations teams can collaborate smoothly on contracts using smart CLM software.
  • By automating contract management from end-to-end, smart CLM slashes document expenses and accelerates vendor onboarding and management.
  • Centralized contract storage boosts contract visibility and helps close deals on time, with automated renewal alerts to maintain business continuity.
  • eSign capability enable speedy digital contract execution, with capabilities to invite multiple signers, and sign contracts in bulk.

Featured Use Cases

SignDesk’s medical contract management software provides all of the capabilities required by pharmaceutical firms to automate contracts, accelerate contract processes, and improve efficiency.

template-and-clause-libraries

Template & Clause Libraries

Clause-Locking-&-Digital-Negotiations

Digital Negotiations

Central-Contract-Repository

Central Contract Repository

Real-Time-Status-Tracking

Real-Time Status Tracking

eSign-Integrations

eSign Capability

Audit-Trails-&-Activity-Logs

Audit Trails & Activity Logs

Automated-Expiry-&-Renewal-Alerts

Automated Expiry & Renewal Alerts

Client-Profile-Creation

Client Profile Creation

Smart-Analytics-&-Tracking

Smart Analytics & Tracking

Trusted By Enterprises Across The Globe

Automate Contract Management The Smart Way

GDPR
ISO-9001:2015

Get in Touch

With the information you provide, this and other relevant offers will be sent to you via email. The information won’t be shared to any third party. You have the privilege to unsubscribe anytime you want. See our complete Privacy Policy statement.