|By Business Wire||
|September 20, 2012 09:08 AM EDT||
Revitas today announced that Glenmark Generics Inc., USA, a division of Glenmark Generics Limited, will adopt the RevitasTM FlexTM technology platform to support the company’s growth, manage revenue margins, and automate the complete contract lifecycle on a single, standards-based platform. The planned implementation includes Revitas CARS®, Revitas CARS BI, Revitas Medicaid Rebates, and Revitas Government Pricing solutions.
“The Flex platform is an end-to-end automated solution for revenue management, integrated with contracting, compliance, and reporting, that will support our company’s continued growth,” said Paul Dutra, Executive Vice President at Glenmark. “As a longstanding Revitas customer, we recognize their deep knowledge of the pharmaceutical generics industry. The Flex platform meets our business requirements as a complete solution to automate critical pharmaceutical business processes.”
Today, generics companies are consolidating in record numbers, often slashing prices and making it increasingly difficult for some companies to compete. The standards-based Flex platform offers generics manufacturers powerful solutions to maintain competitiveness, including automation capabilities to streamline business processes and eliminate errors, and greater visibility into sales contract data to ensure compliance with government price reporting obligations. As a result, a growing number of generics manufacturers—including three of the largest—are capitalizing on the power of Enterprise Revenue Dynamics (ERD) solutions powered by the Flex platform to optimize business performance.
“Glenmark’s planned migration to the Flex platform is validation of the essential role of ERD in solving critical business issues for life sciences companies,” said Al Smith, President and COO, at Revitas. “Glenmark has been a valued Revitas customer for more than eight years and this latest milestone adds to the growing evidence that ERD is crucial for generics companies to optimize and automate their contracts, pricing, and compliance. We are committed to partnering with pharmaceutical manufacturers to help them meet the complex challenges of reporting requirements and pricing scenarios with a single, scalable, standards-based platform.”
With the Flex platform, Glenmark gains powerful new tools for visibility, efficiency, and automation which will optimize ERD through the use of life sciences-specific modules. The Revitas CARS pricing solution enables pharmaceutical companies to create and administer complex, multi-tier pricing incentives to their trading partners. Revitas Government Pricing manages calculations and reporting needs for compliance with government drug programs such as Medicaid and Medicare Part D. The Revitas Medicaid Rebates application digs deeper into the management of compliance requirements for the Medicaid Drug Rebate Program and associated state supplemental programs. Together these integrated solutions ensure compliance with complex government reporting requirements and offer Glenmark a true competitive advantage.
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/.