Pegasystems Transforms Spend Management for Life Sciences
CAMBRIDGE, Mass. – Aug. 14, 2012 – Pegasystems Inc. (NASDAQ: PEGA), the leader in Business Process Management (BPM) and a leader in Customer Relationship Management (CRM) solutions, today unveiled its new Spend Management solution that ensures more efficient compliance, increased visibility and lower risk while improving customer relationships. For more details on the solution, stop by Booth #21 at the 6th Annual Forum on Sunshine and Aggregate Spend on Aug. 14-16 in Washington, D.C.
The complexity surrounding the collection of healthcare professionals’ (HCPs) spend data continues to pose challenges across the industry. While not all pending regulations have been finalized, compliance professionals must meet federal, state and global disclosure requirements associated with the Physician Payment Sunshine Act and similar regulations worldwide, or they risk fines and damaged reputations. Yet by focusing solely on solutions for achieving compliance goals, many life sciences organizations are missing the opportunity to enhance visibility into their own HCP engagement strategies.
Pega’s Spend Management solution enables a holistic view across research and development, medical affairs, sales and marketing to assess the value of funds spent on HCP business activities. The solution provides a rules-driven, customer-centric approach to implementing company, federal, state and global disclosure regulations requiring the reporting of payments to HCPs. Life sciences organizations can proactively direct and control behavior in real time across multiple systems with technology designed to impose consistent, standardized policies and procedures across the organization. This improves the management and efficiency of activities through accurate and reliable spend management tracking and reporting.
Quotes & Commentary:
Eric Newmark, Program Director, Business Systems Strategies, IDC Health Insights (from report #HI226907 titled “Business Strategy: Aggregate Spend Compliance – The Next Frontier of Pharmaceutical Sales and Marketing”)
“Beyond gaining visibility to where money is being spent, pharmas must create the ability to strategically decide where funds should be directed to get the most bang for their buck.”
Melonie Warfel, Business Line Leader, Life Sciences for Pegasystems
“With today’s complex regulations and increased government scrutiny, it’s critical for life sciences companies to have complete control and visibility of all their healthcare professional activities. This includes speaker programs, grants, discounts and rebates, Advisory Board programs, royalties, consulting fees, education, research and travel expenses. Pega’s advanced technology automates all these spend transactions across the organization, whereas many newer spend-tracking tools fall short.”
For more information on the Spend Management Solution, visit: https://www.pega.com/sites/default/files/SpendManagementforLifeSciencesDS.pdf
For more information on Pega’s Life Sciences solutions, visit: https://www.pega.com/solutions/by-industry/life-sciences
Pegasystems (NASDAQ: PEGA) develops strategic applications for marketing, sales, service, and operations. Pega’s applications streamline critical business operations, connect enterprises to their customers seamlessly in real-time across channels, and adapt to meet rapidly changing requirements. Pega’s Global 3000 customers include many of the world’s most sophisticated and successful enterprises. Pega’s applications, available in the cloud or on-premises, are built on its unified Pega 7 platform, which uses visual tools to easily extend and change applications to meet clients’ strategic business needs. Pega’s clients report that Pega gives them the fastest time to value, extremely rapid deployment, efficient re-use, and global scale. For more information, please visit us at www.pega.com.
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The information contained in this press release is not a commitment, promise, or legal obligation to deliver any material, code or functionality. The development, release and timing of any features or functionality described remains at the sole discretion of Pegasystems, Pegasystems specifically disclaims any liability with respect to this information.
Lisa Pintchman Rogers
VP, Corporate Communications
Director, Corporate Communications
Sr. Manager, Public Relations
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