Sanjay Koshatwar, SVP, Head Life Sciences PracticeToday, when discussing the competitive advantages for Bio-Pharma companies, effective use of information systems, advanced analytics and streamlined business processes is something that has attracted same attention of top management as the efficacy of the drug. With Obamacare and the advent of Accountable Care Organizations, many pharmaceutical companies are under pressure to justify their premiums, and the efficacy of drugs alone isn’t enough to earn confidence of payers. IB Technology, a fully owned subsidiary of India Bulls group partners with emerging and big Pharma that are bringing products on the market or looking for optimization of current spend by acting as their virtual IT team, applying advanced analytics and offering value based service, thus enabling them to focus on their core competency. They offer solution accelerators that save 60 percent of the time and cost of these projects, and even have outcome-based fees for commercial off-the shelf products implementation, custom development and extensions.
It was clear that the daring business model mentioned above was demanded enough by the market to work, and that validated the vision of three engineers from IIT Delhi, who are founders of India Bulls (IB) Group with current worth of over $4 billion. They started IB Technology in 2011 with an objective of providing disruptive technology services to global customers; now they offer a wide variety of solutions and services that are required by pharma commercial, clinical, enterprise and discovery teams. Some of these include deep customer insight for brand teams to design and implement Mkt. tactics, longitudinal patient data analysis providing adherence metrics, competitive analysis and drug switch analysis, grant management solutions, and the creation of systems and processes that evolve and stay within the regulations of requirements like the Physician Sunshine Act.
IB Technology specializes in all aspects of data management, business analytics and mobility. For their life sciences customers, their MDM solutions offer robust HCP/HCO management capabilities and, it is integrated with NPI database, OIG database and offers pre-built integration with CRM solutions (Veeva/MS Dynamics). Their DW/BI solutions provide a standard data model for sales, activity, claims and spend data. “The kind of versatility we encourage enables our company to create solutions that are accepted in the financial and telecom verticals, which include mortgage and capital market, along with a series of products in the wireless and wireline space,” says Sanjay Koshatwar, SVP, IB Technology.
The kind of versatility we encourage enables our company to create solutions that are accepted in the financial and telecom verticals, which include mortgage and capital market, along with a series of products in the wireless and wireline space
The company stays at the forefront of competition through maintaining their reduced selling cost as per industry standard and investing more on hiring better quality resources.
IB’s approach has seen success with past customers. A west coast based bio-pharmaceutical company got fast track FDA approval and commissioned IB Technology to provide complete commercial system support from development, integration, data management and hosting of applications. IB crafted a solution with KOL management/speaker recruitment, market basket/competition analysis, CRM/SFA implementation for profile management, customer data management, digital marketing and more. Needless to say, their client received cloud solutions thus enabled them launch-ready and provided data driven insights for post-launch tactic changes.
Despite their immense success, IB Technology still sees room for its own growth. They’ve garnered significant investments in the development of business analytics and MDM practice. Their focus areas are currently master data management, data warehouse and business intelligence reporting, advanced analytics, and mobility. The company’s primary goal is to develop long term relationships with their strategic clients and continues to see traction in strong horizontal offerings revolving around infrastructure management services, third party testing and managed services. While it’s impossible to predict the future, it seems quite clear that IB will continue providing its clients with a long line of innovations and success stories.