Biosensors International is a group of companies that specialises in developing, making and marketing state-of-the-art medical devices, such as stents (small tubes), used during heart surgery and other critical care. It is the fourth largest player in the drug-eluting stent market, with global headquarters in Switzerland and Singapore.
Biosensors International prides itself on innovation, but works in a market where developing new products involves long periods of research, trials and regulatory approval. Running parallel to this, the company needs to deal with patents for many of its products, not to mention marketing campaigns and worldwide contracts and partnerships. It came to Four Business Solutions and told us it needed an electronic solution to control contracts across different continents, liberating staff for the critical business of getting new devices into operating theatres.
We provided Biosensors International with our cloud-based Contract Insight solution, so it could manage its entire contract life cycle with the click of a mouse. The Contract Insight solution was deployed by our experienced consultants, and quickly enabled Bionsensors to handle everything electronically, from contracts that had been running 20 years, to brand new suppliers.
Our goal was to give Biosensors International the ability to streamline costs, increase revenue, speed up the sales process when marketing new products, and crucially, stay on top of a range of complex, international regulatory requirements. The company tells us that all this has been achieved. Plus, our system means Biosensors International can now attach critical metadata to every contract, giving its managers more insight at a glance.