Significant Market Share Gains in Pharmaceutical, Medical Device, and Hospital Segments.
Raritan, N.J. – January 14, 2014 – iContracts, a leading provider of solutions for managing revenue, corporate contracts, commitments, and compliance today announced continued rapid expansion and penetration in key market segments throughout 2013, highlighted by record revenue, significant client additions, numerous client success stories, and the release of important new product modules and capabilities positioning the company for an outstanding 2014.
“2013 was the latest in a string of fantastic years for iContracts, and more importantly our valued clients”, commented CEO A. Leigh Powell. “By continuing to deliver on our promise of better solutions for managing revenue, contracts, and compliance we have again gained significant market share in our primary target markets, winning head-to-head against legacy providers in companies of all sizes, including our first two fortune 50 clients, a top 10 generic pharmaceutical manufacturer, and a leading large hospital system moving from a competitive solution. Clearly, iContracts true Cloud based delivery model, ability to scale, large product footprint, and vastly superior value proposition continues to resonate with forward-looking companies.”
Highlights from 2013 include:
- Record New Client Additions and Go-Lives
- Nearly 200 Entities Now Powered by iContracts Solutions
- Continued Product Innovation
- Expansion of iContract’s Gross2Net Suite
- MediGap solution expansion including negative invoice processing
- Enhanced chargeback validations and tolerances
- Streamlined invoice processing to handle Affordable Care Act Medicaid expansion
- Expanded support for calculating complex commercial and managed care rebates
- Significant new Universal Contract Manger capabilities:
- Mass attachment automation
- Assign notes, milestones, activities to selected contract groupings
- Direct emailing from individual contracts, including documents
- Enhanced company security profiling
- System wide announcement support
- Default contract naming configuration
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. 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.