Mohammad Ovais,Managing Partner and Co-FounderTo shorten drug pipelines and burgeoning development costs, big data and analytics are expanding their scope to different parts of the pharma sector. “It could be the key to problems like declining success rate of pharmaceutical R&D,” says Mohammad Ovais, Managing Partner and Co-Founder, Streebo. “Understanding this, Streebo ensures that data is harnessed in a timely manner, to power agile decision making."
Headquartered in Houston, Texas, Streebo partners with life sciences companies to leverage the power of data generated from several sources in this sector, and has data oriented solutions for Pharma R&D, Commercial Pharma and Pharma Compliance. According to Ovais, “Effective utilization of data will help accelerate commercialization of new drug candidates and improve commercial reimbursement.”
According to the company, a typical pharmaceutical organization spends equally on research and commercial activities, which amounts to millions of dollars. To be successful, a pharma company must stitch together internal and external data; for instance internal sales activity data is matched with external syndicated pharmacy prescriptions and market share data to track sales force performance and to design brand market strategies. “Our sales force analytics solution uses our proprietary models and performance indicators to deliver near real time salesforce metrics which helps sales management make faster field level decisions,” explains Ovais.
Streebo also offers business solutions that employ decisive analytics – both current and predictive – in order to optimize the effectiveness of closed loop marketing. Through innovative dashboards and scorecards, pharmaceutical manufacturers can simplify management of dealings with key stakeholders such as physicians and health care organizations”, asserts Ovais. “To showcase our commitment to the industry, we are releasing a platform for analyzing corporate spend data on physicians as well as competitor interactions in April, 2015. Sales and marketing teams of Pharma companies will be able to get complimentary access by registering at http://www. openpaymentsanalytics.com.”
Pharmaceutical manufacturers took in heavy costs to build the 2014 physician spend disclosure reports in compliance with the US Sunshine act.
We have built cloud based digital and secure compliance applications for Physician Consent management and dispute resolution, that replace the old paper based mechanism that the pharma industry is used to
Now in 2015 European Union has introduced similar regulation under EFPIA transparency directive.“Streebo’s pharmaceutical compliance team is helping the industry by running best practice compliance seminars in EU and US. Local legal compliance experts also participate in these seminars. For its US clients Streebo has a program to scale the US Sunshine solution to meet EU regulation and for the EU clients Streebo has built a cloud based secure digital compliance application for Physician consent and data dispute management that replaces current paper based processes,” adds Ovais.
One of the top ten pharma organization, with global presence in 140 countries, is using Streebo’s solution for product Master Data Management (MDM). Streebo's MDM services allow business managers, who are stationed in each of the organization’s affiliate countries, to access, and manage their own product hierarchy, resulting in information being utilized at a global level ensuring better managed finance and sales forecasting.
The company’s key differentiator is their expertise in converting data into insights. Leveraging the organizations’ DNA in data integration, Streebo has built industryfocused services, solutions and products for pharma life sciences customers. With consultants well versed in pharma business problems, it is no surprise that Streebo counts more than a dozen global pharma companies as its customers. “We are moving the pharma industry onto exciting ways of utilizing data and cloud based solutions. We believe DATA is the new drug,” concludes Ovais.