Vendor Governance

Fragmented Vendor Governance Processes

For R&D procurement professionals in the pharmaceutical industry, managing vendor governance presents ongoing challenges. With each CRO or vendor producing unique metrics reports and governance decks, it’s nearly impossible to maintain consistency and transparency across vendors, even within the same service category. These reports are often static—Excel sheets and PowerPoint decks—that don’t allow for real-time analysis or efficient comparison. This lack of standardization complicates the oversight process, making it difficult to evaluate performance trends or identify emerging issues across the vendor portfolio. Without a centralized, standardized system, procurement teams must invest substantial time consolidating disparate data, manually tracking vendor performance, and preparing custom reports for each vendor review. This process increases the risk of oversight gaps, miscommunication, and budget inefficiencies. Additionally, with static data formats, procurement professionals cannot leverage analytics to spot issues early or ensure alignment with strategic objectives. Combined with limited visibility into contract adherence, this fragmented vendor governance process significantly impacts efficiency, accountability, and the ability to make proactive, data-driven decisions.

VISION Enhances Vendor Oversight

Strategikon’s VISION solution addresses these challenges by providing a centralized platform that standardizes vendor governance and performance tracking. VISION consolidates metrics from various CROs and vendors into a single, uniform system, allowing procurement teams to review, compare, and analyze performance data across vendors seamlessly. Through automated data integration, VISION eliminates the need for manual data consolidation and replaces static reports with real-time dashboards that support dynamic analysis. This approach not only ensures standardized metrics across all vendors but also facilitates comprehensive governance oversight by allowing procurement to set consistent performance benchmarks and track contract adherence. By bringing governance control back to the sponsor, VISION enhances vendor accountability, simplifies reporting, and enables proactive issue identification.

Improved Accountability and Efficiency

With VISION, R&D procurement teams experience a significant improvement in vendor governance efficiency. By eliminating manual report consolidation, they save considerable time, allowing for more strategic focus on vendor performance improvement. Standardized metrics and real-time analytics reduce oversight gaps and provide clearer insights into vendor alignment with strategic goals. With comprehensive governance and streamlined reporting, procurement professionals strengthen accountability across their vendor portfolio, reduce budget overruns, and ensure contract adherence.

Streamlined Governance with VISION

In pharmaceutical vendor governance, fragmented data and lack of standardization create costly inefficiencies. Strategikon’s VISION solution centralizes vendor metrics, enabling procurement professionals to enhance governance, improve vendor performance, and drive data-driven decision-making. With VISION, procurement teams can maintain control, increase accountability, and optimize vendor relationships for successful clinical outcomes.