Best Practices Research
Frost & Sullivan’s Global Research Platform
Frost & Sullivan has over 50 years of business expertise, with a global research organization of over 2,000 analysts and consultants who monitor more than 300 industries and 250,000 companies.Thisunique position and visibility into the global marketplace enables us to determine how best-in-classcompanies worldwide manage growth, innovation and leadership. Based on the findings of this Best Practices research, Frost & Sullivan is proud to presentthe2013 North American Entrepreneurial Company of the Year Award in Pharmaceutical Knowledge Process Outsourcing to Sciformix.
Significance of Frost & Sullivan’s Best Practices Awards
Frost & Sullivan’s Best Practices Awards independently recognize companies in a variety of global and regional markets for demonstrating outstanding achievement and superior performance in areas such as visionary innovation, competitive strategy, leadership, technology, and product development. The Best Practices Awards underscore superior planning and execution of business processes including strategic alliances, mergers and acquisitions, distribution strategies, research and development, product launches and customer service. Specific criteria for each Award category have been developed leveraging the global expertise of Frost & Sullivan analysts and consultants.
The companies that are commended as Best Practices Award recipients are those with the diligence, perseverance and dedication required to develop a successful business plan and excel in the increasingly competitive global marketplace.
Understanding Frost & Sullivan’s Best Practices Research Process
Frost & Sullivan’s Awards are based entirely on the merit of the company, product, service or technology being evaluated. The first phase of this stringent research process focuses on key challenges centric to a market or industry. Once these are determined, it is possible to identify applicable measurements that address those challenges.
The next phase in the best practices research process is based on in-depth primary interviews with market participants. This information is then cross-referenced by interviewing others in the value chain (i.e. industry experts, distributors, opinion leaders and end users). Finally, a third layer of validation is conducted to check the information given to the analyst team against secondary and public information sources including SEC filings, corporate/investor presentations, articles and databases. This rigorous methodology allows our research and consulting teams to objectively analyze each company's performance regarding the key Award criteria, and determine the final Award recipient.
Key Benchmarking Criteria for the Entrepreneurial Company of the Year Award
For the Entrepreneurial Company of the Year Award, the following criteria were used to benchmarkSciformix’s performance against key competitors:
•Growth Strategy Excellence
•Growth Implementation Excellence
•Degree of Innovation with Products and Technologies
•Leadership in Customer Value
•Speed of Response to Market Needs
Best Practice Award Analysis for Sciformix
The Decision Support Matrix below illustrates the relative importance of each criterion for theEntrepreneurial Company of the Year Award and the ratings for each company under evaluation. To remain unbiased while also protecting the interests of the other organizations reviewed, we have chosen to refer to the other key players as Competitor 1 and Competitor 2.
Decision Support Matrix for
Entrepreneurial Company of the Year Award
Growth Strategy Excellence / Growth Implementation Excellence / Degree of Innovation with Products and Technologies / Leadership in Customer Value / Speed of Response to Market Needs / Weighted Rating
Relative Weight (%) / 20% / 20% / 20% / 20% / 20% / 100%
Sciformix / 9 / 9 / 9 / 9 / 9 / 9.0
Competitor 1 / 8 / 8 / 8 / 8 / 7 / 7.8
Competitor 2 / 8 / 8 / 7 / 7 / 7 / 7.4
Drug development is a tightly regulated industry that is becoming increasingly complex. In order to succeed and remain competitive in this challenging environment, pharmaceutical companies must stay on top of ever-evolvingclinical development processes and procedures, global health authority regulations and guidelines, as well as rigorous post-marketing requirements. In order to control the escalating costs of drug development while maintaining high standards, organizations are increasingly looking to outsource beyond the traditional sectorsof clinical research operations and manufacturing, and are trending toward outsourcing business and knowledge processes such as clinical, medical and regulatory affairs. Processes such as global clinical development strategies and regulatory interaction, data management, pharmacovigilance and scientific writing can now be outsourced to trusted partners.
While many contract organizations such ascontract research organizations (CROs), knowledge process organizations (KPOs), and business process organizations (BPOs)are looking to meet the increasing demand, one emerging company stands out with their specialized focus on the needs of the Life Science industry. Sciformix, a leading global contract KPO (Knowledge Process Organization), with a focus on Scientific Processes, is dedicated to filling the gaps left by these other companies who may focus on operations but not science, or science but not processes, or larger multi-industry organizations that lack the advantage of specialized Life Science expertise. Sciformix has attracted a pool of talent with diverse capabilities and a business plan designed to meet the needs of all Pharma clients, both large and small. With abundant subject matter expertise in all phases of drug development, from initiation of clinical trials to post-marketing support, Sciformix is able to tailor a flexible solution to help their clients quickly and efficiently bring more drugs to the market and manage the product lifecycle after approval. Their strength in the area of Safety and Risk Management (SRM), a process that is rapidly increasing in both importance and complexity, ensures the best possible outcomes for patients and manufacturers with regard to productsafety. In addition, their expertise inClinical development and post-approval support services are expanding and evolving to meet the constant barrage of global market and regulatory demands, while ensuring that patient safety and product efficacy outcomes are met with high quality.
Frost & Sullivan's benchmarking of market participants has clearly shown that Sciformix is unique among KPO organizations with regard to thedepth and breadth of expertise in supporting product development and maintenance, their client-focused and flexible business model which spans client needs from niche requests to end-to-end support, and their ability to adapt to the changing healthcare and lifesciences environment. Based on Frost & Sullivan's independent analysis of the North AmericanPharmaceutical Knowledge Process Outsourcing space, Sciformix is recognized with the 2013 Entrepreneurial Company of the Year Award.
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