Between waning consumer confidence and expanding
regulatory requirements, the need for transparency has never
been greater. To improve your transparency, you’ll need full
visibility into all the costs associated with drug development
and distribution. For pharma companies still using paper-based
processes, the solution is automation.
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Manual invoice processing and tracking are antiquated, inefficient, costly, and unscalable — and with only 21% of pharma companies currently accepting the majority of their invoices electronically, you have the opportunity to position your organisation among the industry leaders.
Recently, Tungsten Network helped one pharmaceutical company analyse its spending patterns on 475,000 products, identifying £57-plus million in potential savings.
In addition to offering white-glove onboarding for new suppliers, Tungsten Network already has more than 32,000 pharmaceutical suppliers on its network, which means you can begin processing invoices with these suppliers — and reaping the benefits — as soon as you’re enrolled.