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Pharma Tech Outlook | Thursday, June 16, 2022
Veeva reportedly decided to implement its clinical trial management system to help streamline its processes.
FREMONT, CA: Veeva (VEEV: NYSE) recently introduced that its Vault clinical trial management system (CTMS) was put in place at Bristol Myers Squibb (BMY: NYSE). The implementation of the CTMS allowed bringing together two legacy systems into one in a fairly short time. The company has witnessed an evolution in the pharma industry, shifting from using point solutions to address distinctive use cases to embracing an exclusive and connected solution for the entire breadth of clinical trial operations. The industry has employed custom-made applications to handle trial execution, planning, and site engagement. But this mandated users to leap across multiple applications to get a study running and is extremely counterproductive. To address this problem, some businesses employ tracking to tie processes together. This disorganised infrastructure increases risks, making it more challenging to collaborate cross-functionally and requiring manual procedures that can slow down trials.
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Veeva's Vault CTMS is part of the Veeva Vault Clinical Suite using which pharmaceutical companies can gain powerful trial management and monitoring capacities in their existing environments. This holistic ecosystem allows businesses to run a study end-to-end on a single dashboard while delivering end-users with one platform to execute clinical processes, regardless of their part in the trial. By using a contemporary cloud CTMS, companies can ensure that they constantly evolve their strategies and leverage technology advancements that can add new abilities and features as market scenarios demand. The Vault CTMS also helps pharma businesses advance trials by delivering risk-based study management within the system, instead of demanding companies to integrate a separate solution. Vault CTMS also improves operational efficiency. As an industry behemoth, Veeva is attempting to empower pharma brands to embrace a more digital way of working, removing all paper-based procedures. Monitoring patient visits has traditionally been paper-based. In Vault CTMS, Veeva transformed this into a digital process, eliminating the use of paper. The companies using Vault CTMS with other Veeva clinical applications can streamline site monitoring and seamlessly transfer data with critical stakeholders. This ensures everyone can access real-time information and decreases the risk of non-compliance.
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