Pharmaceutical business development professionals are under an immense amount of pressure. The life sciences industry has undergone a fundamental shift – partnering and collaboration are critical for successfully developing and bringing to market innovative treatments. More than ever ebfore, business development is filling gaps left by research and development, searching for external technologies to refill pipelines depleted by patent expirations. As a result, the number of business development professionals and the opportunities evaluated has exploded. With this increase in activity comes an increase in the amount of information that must be managed. Tools that worked in the past, including emails, spreadsheets or erooms, simply cannot keep up. Unsurprisingly, in a recent survey of life sciences business development professionals revealed that 33% of respondents believe improved bandwidth in deal-making is needed. What business development professionals need is a pharma CRM dedicated to partnering.
The CRM Designed for Pharmaceutical Business Development
At Inova, we’ve spent over 15 years working with our pharmaceutical business development clients to create a CRM for partnering that responds to their evolving needs. Inova’s partnering platform covers the business development process from end-to-end:
Conferences are important opportunities for pharmaceutical business development professionals to find new promising assets and partners. In collaboration with BIO, we’ve created a new partnering meeting system for conferences that features in-depth profiles, more powerful searches, optimized scheduling and more. Pharma BD professionals can now find and engage with the right partners, faster.
Our Partneringplace module puts all of your pharmaceutical business development information in the same, secure place. Information about contacts, companies, meetings and external technologies is kept in one place, ready for business developers to share and collaborate with their colleagues.
We’ve used our expert industry knowledge and best practices to create standardized workflows that speed up and control the business development deal process. Our platform is ready-to-use and intuitive for business developers, enabling them to jump right in and get started.
Once a deal is signed, the work isn’t over! Inova’s CRM for partnering enables business developers to accurately track contracts, obligations, documents, governance information and more. Alerts remind business development professional about upcoming payments, ensuring that nothing is forgotten or overlooked.
Pharmaceutical business development is facing some exciting, but challenging times. To find and win the right deals, business developers need the right tools.