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Agiloft Helps Healthcare and Biotech Organizations Manage Contract Lifecycle, Reduce Approval Times
Strict regulatory environment, need for configurable contract workflow drives companies to adopt Agiloft Contract Management
REDWOOD CITY, Calif., Nov. 15, 2017 /PRNewswire/ -- Agiloft, Inc., a leading provider of agile business software, today announced significant growth in the booming healthcare and biotech sectors over the past 12 months. The company's roster of clients in these sectors grew 200 percent year-over-year and the overall biotech industry is expected to reach $727 billion by 2025. Some of Agiloft's new clients include: Agenus Inc., OB Hospitalist Group and ZeptoMetrix.
Healthcare and biotech organizations are challenged by strict audit/compliance requirements, including regulations related to HIPAA and the Federal Drug Administration. The McLaughlin-Sherouse List measures the most highly regulated industries, and ranks pharmaceutical and medicine manufacturing among the top 10.
Agenus Inc. is a clinical-stage immune-oncology company focused on the discovery and development of therapies that engage the body's immune system to fight cancer.
"Agiloft has increased efficiency and transparency in our contracting process," said Jennifer Garon, senior corporate paralegal at Agenus Inc. "We now have full visibility into each contract's approval status, set alerts to start renewal processes, and manage signatures electronically to reduce time spent overall."
Agiloft Contract Management offers unprecedented flexibility and configurability through its no-code architecture. Users don't have to rely on IT to make changes to approval workflows or make other changes to their contract process.
"Healthcare and biotech organizations manage in excess of 50 different types of contracts, each with varying approval processes," said Colin Earl, CEO at Agiloft. "Off-the-shelf contract management software falls short in delivering the amount of configurability required to truly meet their needs, but developing a home-grown system is costly and requires ongoing maintenance that takes the focus off their core work to develop care delivery, new medical devices, therapies and treatments."
OB Hospitalist Group leads the industry in developing and managing 24/7, on-site OB/GYN hospitalist programs.
"Agiloft offered the customization that we needed," said Regina Flint, paralegal at OB Hospitalist Group. "Our business is not your normal business – so many nuances. We've been able to capture that within Agiloft. Easy access to critical information about contracts helps us to think more strategically and keep our business running smoothly."
Over three million users at organizations ranging from small enterprises to U.S. government agencies and Fortune 100 companies depend on Agiloft's top-rated product suites for Contract Management Software, Service Desk, Custom Workflow, and more. Agiloft specializes in automating processes that are too complex for competing vendors. Our best practice templates and adaptable technology ensure rapid deployment and a fully extensible system.
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