From pharma to food tech, the complexities of the biotech industry stand alone. These companies generate massive contract volume through product development, commercialization, and M&A.
In fact, one industry leader recently shared with us that her pre-clinical phase biopharma company generated over 150 contracts per quarter. From manufacturing to toxicology and consulting agreements, the small operations team was overwhelmed trying to ingest, manage, and report on contracts – until they discovered a contract lifecycle management (CLM) solution.
Biotech companies often wait too long, allowing CDAs, provider agreements, and pricing schedules to pile up before prioritizing contract management best practices. Fortunately, you don't need a JD to transform your contracting workflows. With CLM, biotech companies bring order to the contract chaos. This brings many benefits, including:
CLM software is essential for any biotech company, connecting every contract phase–from initiation and execution to renewal. Bringing order to contracting processes doesn't need to wait until your first legal hire.
If you're ready to kick your contract processes into high gear, contact LinkSquares today.