Bid Grid Mapping

Bid Comparison Complexities

A mid-sized pharmaceutical company found themselves struggling to efficiently compare CRO bids for their clinical trials. With each CRO using their own Excel-based templates and unique budgeting models, the company’s procurement team was overwhelmed by the complexity of the comparison. The process required endless manual work to normalize thousands of budget lines from multiple CROs into an “apples-to-apples” comparison. Each bid contained varying cost drivers, resource allocations, and assumptions, making it impossible to accurately determine why costs varied between vendors. The lack of standardization across bids led to confusion, delays, and errors in decision-making. They spent countless hours in back-and-forth communication with CROs, trying to align on budget structures, but the process remained tedious and imprecise. With timelines extending and costs rising, they knew they had to change their outdated approach to evaluating CRO bids was not only inefficient but also jeopardizing the successful execution of their clinical trials.

SOURCE Standardizes Bid Management

To overcome their challenges, the company implemented Clinical Maestro SOURCE to centralize their R&D outsourcing, ensure sourcing decisions follow best practices, and, especially engage the bid grid mapping capabilities. SOURCE replaced their fragmented, Excel-based approach with a centralized platform that automated the process of mapping CRO bids into a standardized template. This allowed the company to easily conduct side-by-side comparisons of bids, gaining full visibility into cost drivers, assumptions, and resource allocations. The system’s AI-powered bid grid mapping eliminated the manual effort involved in normalizing bids and enabled the company to quickly identify discrepancies between bids. With this detailed insight, they were able to conduct due diligence faster and more accurately and negotiate more effectively with CROs, ensuring they secured the best value for each trial. SOURCE provided the transparency and precision needed to make data-driven decisions and select the most cost-effective and qualified vendors.

 Streamlined Processes and Cost Savings

By using Clinical Maestro SOURCE, the company reduced the time spent evaluating CRO bids by 40% and lowered the risk of costly errors by 90%. The enhanced visibility into cost structures empowered them to negotiate better terms with their vendors, saving over 10% on their clinical trial budget. This substantial saving allowed them to reallocate funds to other critical research and development initiatives. Additionally, the streamlined process enabled them to keep trials on schedule, eliminating start-up delays and ensuring faster project execution. They were also able to collaborate better with CROs, as clear, standardized data fostered stronger, more productive vendor relationships.

Transforming Clinical Trial Bid Grid Evaluation

The company’s experience with Clinical Maestro SOURCE underscores the importance of leveraging advanced technology to streamline bid management processes. By using SOURCE’s dynamic bid grid mapping capabilities, they transformed a previously cumbersome process into an efficient, transparent, and reliable system. This shift not only saved them time and money but also positioned them to manage future clinical trials with greater confidence and success.