roche starts contract risk profiling with contract management software
TRANSCRIPT
Company Profile Roche Diagnostics India was established in January 2002 in India as an outcome of global acquisition of AVL Biomedical, leaders in blood gas and electrolytes testing market. Roche has grown from a small drug laboratory into one of the world’s leading research – based Healthcare companies.
More details:
Roche a Fortune 500 company ranks among the topten pharmaceutical companies in the world and isknown for many innovative contributions tomedicine and diagnostics.
World’s biggest biotech company and an innovatorof products and services for the early detection,prevention, diagnosis and treatment of disease, thegroup contributes on a broad range of fronts toimproving people’s health and quality of life.
In 1998, Roche and Boehringer Mannheim, two of
the most experienced innovators in diagnostics,
joined forces to create a new, fully-integrated
approach to health management worldwide.
Business Challenges There was steady rise in number of contracts that
Roche Diagnostics team was dealing with, and it had to
quickly adapt to the evolving situation. As contracts
become more complex with multiple stakeholders
spread globally, it had become imperative for Roche to
proactively track the contract lifecycle in order to
effectively manage the contracting process.
There was a need for a central repository and
governance to manage 1000s of contracts created
across the organization. The data was completely
scattered and unstructured.
Their deal approval processes was complex and done
manually, hence it was error prone. This made it a
lengthy and time consuming process for internal and
external parties. Lack of timely alerts on contract
renewals made it difficult to manage contracts and
increased risk and leakage. Since the processes were
being managed manually, there was a need for an easy
to use system for non-tech savvy users.
Solution Roche were challenged by the need to facilitate
collaboration among stakeholders while keeping
contract administration costs within manageable levels.
Further, Roche needed a solution with the ability to
monitor and report on contractual obligations that are
critical to ensure compliance and reduce contractual
risks.
Icertis worked closely with the legal specialists at Roche,
to get the Contract lifecycle management product
running in the Microsoft cloud. As soon as the release
Roche Diagnostic Case Study
was completed, the legal team was impressed with the
Icertis product. The product has a unique easy to use
web user interface (UI) which helps in easy adoption. Its
flexible and scalable architecture, easy integration and
customization capabilities fulfilled the need of various
contract management requirements at Roche
Diagnostics.
Benefits
By implementing Icertis CLM, Roche legal team were
able to undertake contract risk profiling, clause
deviation analysis, commitment tracking, audit trail and
have a centralized document management system.
1. Centralized repository
2. Significant reduction in loss of revenue
3. Automated contract creation
4. Improved process compliance and administration
5. Reduction in contract
About Icertis Icertis is the leading provider of enterprise solutions in
the Microsoft Cloud. The company’s cloud-native
products and services address specific enterprise
business needs by fully leveraging the cloud’s elasticity,
ubiquity, and availability. Icertis’ product suite includes
comprehensive ERP-surround solutions for contract
lifecycle management and transportation management.
The products have flexible deployment models – on-
cloud, on-premises and hybrid options to ensure that
diverse requirements for cost, compliance, and security
are met. Icertis’ cloud-native services help customers
build innovative, secure, and easy-to-use applications,
leveraging prefabricated frameworks and adapters and
modules to integrate data from multiple locations.
Icertis products and solutions are deployed in multiple
Fortune 500 companies and have received great
reviews from both users and analysts alike.
Client Testimonial
Icertis’ innovative approach to process
streamlining and automation using
SharePoint helped us plug revenue
leakage and set us up for working even
more closely with our sales teams.
Rita Kale Head Finance
Roche Diagnostics
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