Is it correct to catalogue Tender Management generally among the revenue channels for a life science company?
At FBK, which is involved 24 hours a day to develop, upgrade and customize ad-hoc solutions, we consider TM in a distinct level compared to other business streams as promotions, contracting, rebating, administration fees and others.
We notice how analysts often evaluate TM along with other tools, for example solutions to configure, price and quote, or to solutions for contract management and platform integration, which are certainly important but are focused on other activities.
Tender Management in Life Science is different, it’s a constant operating environment.
TM is a crucial source to produce revenue and must be managed with the appropriate know-how for many reasons, e.g the medium/long duration of the tender journey, the managing of different rules by country and language, as the need to establish a global pricing framework, just to name a few.
FBK is leader in this field thanks to + 20 year experience of the company and for the highly specialized functions of CM|XS Suite, especially improved by our cloud platform, and we’re aware of the great importance to stay at the forefront of developing ever-new solutions, such as the forthcoming integration of AI and Machine Learning throughout our systems.
Key values and competencies are critical to align the tender process in a global vision, that’s the reason why many Life Science CIO’s are evaluating their legacy approach to customized solutions.
We are confident that Tender Management will be regarded and recognized in the next future as a primary key source, far more relevant for the performance of the industry.
Milan, October 2019.