PHILADELPHIA--(Revitas today unveiled the latest enhancements to the RevitasNOW™ cloud-based solution. The RevitasNOW offering expands support for emerging growth pharmaceutical companies with new functionality for contract lifecycle management, complex pricing scenarios, and compliance automation and reporting. The expanded capabilities build on the strength of the solution by adding mobile capabilities, additional compliance tools, and custom analytics.)--
“We brought our powerful ERD solution to the cloud so that all companies, regardless of their IT budget or current infrastructure, can address the crucial business functions of contracts, pricing, and compliance as they prepare for rapid growth.”
RevitasNOW provides mid-market pharmaceutical companies, such as Cornerstone Therapeutics Inc., with a solution to manage contracts, pricing, and compliance while leveraging a flexible, pay-as-you-grow model that supports the rapid growth that often accompanies new product introduction. The RevitasNOW offering provides companies with an extensible, cost-effective Enterprise Revenue Dynamics (ERD) solution that lives in the cloud and is delivered via the Revitas™ Flex™ technology platform, which provides agility and scalability through a highly integrated environment.
“Many smaller and emerging pharmaceutical companies typically will have less sophisticated software than their larger counterparts in the industry,” said Eric Newmark, Program Director of Life Science Business Systems at IDC Health Insights. “These companies often have more broadly constrained resources, so they typically rely on manual processes simply because their software options, even for advanced solutions, have been historically more limited. Thankfully, SaaS and cloud-based solutions are reversing this trend and helping companies that fall into this space.”
The RevitasNOW solution includes new mobile features that build upon the core capabilities of ERD. Through integration with the Adobe® EchoSign® software, the Revitas Contract Manager component supports enhanced electronic signature capabilities, allowing for secured signatures to execute contracts electronically and expedite overall cycle time. In addition, RevitasNOW includes a Mobile Work Manager interface that allows users to review workflows for approval or rejection from smartphones or tablets.
New pricing and analytics tools have also been added. With the Revitas 340B Compliance Manager module, users can accurately calculate rebates under the 340B integrity provision of the Affordable Care Act and avoid costly non-compliance penalties. And two new analytics modules — Revitas Contract Manager Explorer and Revitas Medicaid Rebates Explorer — allow users to construct custom reports, enabling more informed business decisions by a broader group of workers.
“With the latest RevitasNOW release, we’re continuing to expand our support for emerging growth pharma companies,” said Al Smith, President and Chief Operating Officer at Revitas. “We brought our powerful ERD solution to the cloud so that all companies, regardless of their IT budget or current infrastructure, can address the crucial business functions of contracts, pricing, and compliance as they prepare for rapid growth.”
Revitas, the leader in Enterprise Revenue Dynamics, delivers integrated solutions for contracts, pricing, and compliance that drive higher profitability and lower risk. Revitas empowers companies to optimize contract performance by defining, managing, and analyzing complex, multi-tier pricing incentives and enables positive proof of compliance with commercial, financial, and industry requirements. Powered by the secure, scalable, and standards-based Flex™ platform, Revitas™ applications speed time to market and improve visibility across B2B relationships. Hundreds of organizations across the most highly regulated and challenging industries leverage Revitas integrated solutions to save money, make money, and reduce risk. For details, visit www.revitasinc.com or http://blog.revitasinc.com/.