Leader in Business Outcomes Provides Program to Help Pharmaceutical Developers and Contract Research Organizations Save Costs, Reduce Cycle Times
FREMONT, Calif., June 25, 2012 (GLOBE NEWSWIRE) -- iGATE, the first integrated technology and operations company providing Business Outcomes-based solutions, today announced the iGATE Research Accelerator platform for Life Sciences, a streamlined program designed to reduce the cycle times and costs of bringing a new drug or medical device to market.
The Research Accelerator (RA) empowers pharmaceutical developers and contract research organizations (CROs) with fully integrated clinical information management technology and iGATE's business outcomes-based methodology, enabling them to make better, faster, more informed decisions throughout the drug development process. Drug developers that engage in a business outcomes approach pay only for performance, unlike the time and material billing other vendors use, leading to increased project hours and ultimately, higher billing.
"The pressures on life science companies to bring compounds to market quickly and effectively are more acute than ever before, and the slightest inefficiencies can put millions of dollars at risk," said David Kruzner, executive vice president, iTOPS Solutions and Consulting, with iGATE.
"Utilizing the RA platform, organizations can do a far better job of capturing critical data across multiple systems and verifying, analyzing, reporting and reusing it through multiple phases, supporting their short-term and long- term objectives."
iGATE's end-to-end management solution for R&D data links the systems and data-related procedures through every phase of the clinical process – from data capture to clinical data management, product registrations, document and submission management, pharma co-vigilence risk management, reporting and analytics, and clinical operations R&D portfolio management.
By providing a single source of truth for clinical development information, iGATE's RA offers the potential for a wide range of benefits, including the following:
40-60 percent reduction in Total Cost of Ownership (TCO) for R&D IT
70 percent decrease in content management costs
10-15 percent improvement in the overall product development timeline
The ability to better ensure data accuracy by requiring data to be entered once into the system, rather than multiple points in the process
Rapid deployment and quicker ROI, with value realization starting in as little as four months
iGATE's Business Outcomes model provides BPO and IT services as an integrated offering, with payments based on a specified business outcome. The "pay for results only" formula enables customers to scale up and scale down based on business cycles, reduce technology risks, receive predictable results, benefit from a variable costs structure and eliminate management headaches from managing the outsourcing relationships.
iGATE will exhibit its life sciences industry solutions exhibit at the DIA conference at Booth #3344.
iGATE Corporation is the first integrated technology and operations (iTOPS) company providing full-spectrum consulting, technology and business process outsourcing, and product and engineering solutions on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS platform, iGATE's multi-location global organization has a talent pool of over 27,000 employees and consistently delivers effective solutions to over 360 Fortune 1000 clients spanning verticals such as: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment, leisure and travel; communication, energy and utilities; public sector; and independent software vendors. Please visit www.igate.com for more information. iGATE Corporation is listed on the NASDAQ Global Select Market under the symbol "IGTE."
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Mike O'Connell / Gene Carozza