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Proprietary research with a cross-section of pharmaceutical
companies (n=31) highlights paper-based approval as the home for a raft of - largely
hidden - tangible and intangible costs. Take a look at each of the sections below
to find out more, or contact us to arrange a tailored analysis of the costs of
your approval process.
Cost Associated with Hard Copy
Our
research showed that a medium-sized pharmaceutical company incurs the following
costs associated with hard copy.
|
| Cost
Category | Approximate
Annual Cost | | Job
Bag Consumables (Paper etc…) | £5,000 |
| Couriers / Post / Fax | £100,000 |
| Artwork Runouts | £90,000 |
| Archiving | £5,000 |
Total
|
£200,000 |
|
Irrespective of company size,
our clients benefit from significant savings in the costs associated with hard
copy. Find out more on the Outcomes
page.
Human Resources Cost
H.R. costs have been
demonstrated to be a highly significant component of the overall cost associated
with paper-based approval. Research conducted amongst 31 UK pharmaceutical companies
indicates that approval stakeholders spend up to 30% of their time on job-bag
review. And many stakeholders spend large amounts of time on simple clerical tasks,
such as tracking job bags, which can be easily automated.
Assessment
of a medium-sized pharmaceutical company in which 30 individuals are involved
in the review process reveals that the annual cost of review time is approximately
£150 000.
Through a combination of highly-transparent "Route
Maps" and on-demand Audit
Reports, Zinc MAPS generates dramatic time-savings for key approval
stakeholders. Live implementations of Zinc MAPS demonstrate this time saving to
equate to 25% of baseline - almost £40 000 in a company with 30 approval
stakeholders.
Competitiveness Cost
Research indicates that
an average job bag takes around eight weeks to reach certification - often too
slowly to allow a rapid response to competitive threats. A significant proportion
of this time is due to key reviewers being out of the office and unable to access
their job bags.
With intensifying competition in many markets, our clients
are looking for ways to compress the time required to approve materials, whilst
maintaining the quality of review.
Zinc MAPS is proven to reduce approval
time by over 50%. Take a look at the case study on the Outcomes
page to find out more. | |
