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New Research: Life Science CIOs Must Deploy Global Tender Management Solutions

by Stephen Davies  |  November 22, 2017  |  Submit a Comment

What is a “tender”? Wikipedia defines a request for tender (RFT) as “formal, structured invitation to suppliers to submit a bid to supply products or services”. Government entities deploy this procurement method to minimize and ultimately remove any bias in the selection process for goods and services. Nico Bacharidis, the Global Tender & Contracting Lead for Established Products at Pfizer, in an interview with Suzanne Elvidge of eyeforpharma said “Around 25% of business in the pharma market is now coming through tenders or contracts, so it is important to get a solid process in place.” Here at Gartner, we observed an increased number of questions from life science CIOs and IT leaders evaluating their revenue management platforms. Our recent research in this area offers three key steps life science CIOs must take to drive a global approach for tenders.

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Title: Life Science CIOs Must Deploy Global Tender Management Solutions to Deliver Optimal Results

Summary: Using a global deployment approach to support complex price management, tenders and international reference pricing is essential to maximize corporate revenue goals. Life science CIOs must implement tender management solutions with complex architectural considerations.

Key Steps:

  • Appoint a Global Lead for Revenue Management Systems in IT
  • Lead the Organization to a Global Perspective for Revenue Management
  • Architect the Tender Management Platform Aligned With Global Requirements

Contact Gartner to discuss your revenue management platforms and how to globalize.

Gartner Clients: Click here to make sure you are tracking the life science initiative “Leveraging Digital Strategies for Life Science R&D and Commercial Impact”

DigitalLifeScienceInitiative

Category: life-sciences  medical-devices  new-research  pharma-biotech  tender-management  

Tags: biotech  cio  life-science  medical-devices  revenue-management  tender  

Stephen Davies
Research Director
4 years at Gartner
32 years IT Industry

Stephen Davies is a member of the Healthcare team within the Industries Research organization. He covers the technology aspects of commercialization topics (CRM, revenue management, contract management, compliance) for the life sciences area. Read Full Bio




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