Qualify Service Providers

Fragmented Vendor Qualification Processes

A large, rapidly growing pharmaceutical company was encountering significant difficulties in finding and qualifying the right service providers to execute their expanding portfolio of clinical trials. As their pipeline of studies grew more complex, they struggled to efficiently identify CROs and other service providers that matched their unique trial needs. The process of vetting potential vendors was time-consuming and often inconsistent, relying on fragmented data spread across spreadsheets, emails, and manual records. The company’s clinical operations team lacked a centralized system to track vendor performance and qualification status, leading to costly delays in trial initiation. The absence of a reliable vendor database also made it difficult to maintain up-to-date records on provider capabilities, expertise, and regulatory compliance. This resulted in repeated delays in qualifying new vendors and renewing contracts with existing ones. Furthermore, there was no clear way to track or compare vendor performance across different trials, which led to repeated mistakes and inefficient vendor relationships. As these issues compounded, the company found itself losing valuable time and money, unable to optimize its vendor management process while facing increasing pressure to accelerate clinical development timelines.

VISION Centralizes Vendor Management

To address these challenges, the company implemented Strategikon’s VISION solution, a central hub for vendor management, profile management, and performance tracking. VISION provided a comprehensive, real-time database that housed detailed profiles of service providers, including qualifications, capabilities, and regulatory compliance records. The team could now easily search for, qualify, and compare vendors across trials, ensuring a match with their specific requirements. VISION also allowed them to track vendor performance with detailed metrics, ensuring that only high-quality providers were selected for future trials. The platform’s centralized data streamlined their vendor qualification process, ensuring compliance and transparency.

Faster Qualification, Improved Compliance

After adopting VISION, the company saw significant improvements in their vendor management process. They reduced vendor qualification times by 40%, allowing trials to begin sooner and stay on schedule. With comprehensive performance tracking, they easily identified top-performing vendors, which resulted in more reliable and consistent trial execution. Vendor compliance improved as well, with VISION’s centralized records ensuring comprehensive risk management and performance standards were tracked for all service providers. The streamlined qualification process also helped the company reduce costs associated with vendor onboarding and avoid delays in trial startup, leading to faster development timelines.

Efficient Vendor Management with VISION

The company’s success with VISION highlights the importance of a centralized, data-driven approach to vendor management. By using VISION as a comprehensive hub for tracking vendor qualifications, performance, and compliance, they transformed their ability to efficiently identify and work with high-quality service providers. This strategic shift not only improved trial execution but also positioned BioXel to continue growing while maintaining operational excellence.