The dynamics of today's economy require life sciences companies to rigorously manage costs and adhere to strict government regulations as they attempt to increase market share and revenue. To ensure profitable growth, companies must respond quickly to changing market demands with well-defined goals and business processes. This is especially true in the areas of sales contract development and pricing where management of multifaceted membership relationships, as well as performance-based rebates, is key.
Contract sales in a pharmaceutical company, for example, typically represent more than 50% of total sales, and often as much as 80%. And contractual obligations, including rebates and chargebacks, represent 10% or more of total sales. Even a small variance in chargebacks or rebates can result in huge overpayments - or huge savings, if you avoid them. Just a 2% overpayment variance for a company with an annual contract exposure of US $100 million can equal $2 million in potential savings.
A total, integrated solution is essential to address contract management, as well as downstream contracting processes such as chargeback claims administration and rebates management. The SAP® ERP application, together with the SAP Incentive Administration application by Vistex and the SAP Paybacks and Chargebacks application by Vistex, offers the level of end-to-end contract management required by highly competitive companies in the life sciences industry.
With this solution you will:
Increase sales and market share
Capture business intelligence
Reduce overpayments and duplicate claims
Improve compliance
Increase productivity
