iGATE says its new information management platform will provide a 70 per cent decrease in content management costs for the drug development process.
The tech – named the Research Accelorator (RA) – works from end-to-end, from data capture to management, product registrations, document and submission management, pharma co-vigilence risk management, reporting and analytics, and portfolio management.
The firm says because the entire trial is run under one do-it-all programme the process is less confusing and more streamlined, and hence less costly.
Speaking to Outsourcing-Pharma.com, associate VP Roy Devine said: “The Research Accelerator provides streamlined management of R&D data and can effectively replace the 300 or more applications currently utilized by most large pharma companies.
“It is also modular, so companies can derive benefits from the platform while leveraging their existing investments.”
Devine went on to brand the tech “transformative,” adding that it not only fits with the current changing trends in the industry, but also that it has the ability to change how R&D (research and development) will be conducted in the future.
“Changes in international regulations and an increasing focus on social media in the sector will prompt dramatic changes,” he said.
“The Research Accelerator platform and iGATE’s outcomes-based business model were strategically designed and implemented, respectively, with these developments in mind.”
As for new customers, the firm is open to any pharmaceutical company or CRO (contract research organisation) conducting clinical trials.
Devine added: “New customers do not need to completely overhaul their existing internal systems to gain benefit from the Research Accelerator as all that is necessary to gain value is to integrate the platform into their current operation over time.”
No win, no fee
Divine also that though the recent focus on “collaboration and mutual success” is novel now, it will no doubt be “the norm” in future, and said that iGATE’s outcome-based business model – which means payment is based on a specified result – reflects this.
“This ‘pay for results only’ formula enables customers to scale up and scale down based on business cycles, reduce technology risks, receive predictable results, benefit from a variable costs structure and eliminate management headaches from managing the outsourcing relationships,” he added.