Raritan, N.J. – February 15, 2011 — iContracts, a leading provider of solutions for managing corporate contracts, commitments, and compliance today announced continued success and penetration in key market segments, highlighted by a current growth rate in excess of 300%, record client go-lives, and the release of significant new product capabilities positioning the company for further gains in the coming years. “2010 was a fantastic year for iContracts, and more importantly our valued clients”, commented CEO A. Leigh Powell. “By delivering on our promise of better solutions for managing contracts and compliance that are more automated, faster, easier and less expensive to implement, we have tapped into the previously unmet needs of small and mid-sized entities and captured the imagination of large entities wondering why alternative solutions require so much investment, yet provide such little return. Innovations such as Task Automation Logic (TAL), Simplified Common User Interfaces (SCUI), the Better Contracting Solutions (BCS) Platform, Software as a Service delivery model, and Universal Contract Manager (UCM) have set iContracts apart from legacy providers, enabled us to capture over 90% of competitive opportunities in the Life Sciences Manufacturer segment, and helped our clients go live on time and on budget while realizing tremendous results and value. iContracts has significant momentum heading into 2011 and with additional innovations in our near term product plan, we fully expect further acceleration in the coming year.”
iContracts Highlights:
- Growth in Excess of 300%
- Record New Client Additions and Go-Lives
- Surpassed the Milestone of 50 Entities Powered by iContracts Solutions
- Continued Product Innovation
- Expanded Support for Managed Care Rebates and Programs
- Compliance with the Patient Protection and Affordable Care Act
- “Click Through” End-to-End Government Pricing Visibility
- Reporting and Analytics
- On-Demand Compliance Views in Universal Contract Manager
- Released Version 3.1 of iContracts Better Contracting Solutions Platform
- Filed Patent for Task Automation Logic Process
- Established Policy development, risk management, and strategic outsourcing services
About iContracts
iContracts’ goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is far ahead of other solutions. Powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and is backed by highly evolved data architecture – built by technologists with considerable and unique experience in building contract management solutions for the Life Sciences industry. This deep understanding and straightforward approach shows in everything we do. iContracts’ comprehensive suite of solutions manages all aspects of a Life Science company’s chargeback, rebate and Medicaid processes as well as other incentive agreements and Government Pricing compliance at all levels. Our solutions are enterprise-class and can be easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com
iContracts Media Contact:
Anne Ambrosio
iContracts, Inc.
Tel: 908-393-9550
aambrosio@icontracts.com