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’s 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 has to deal with patents for many of its products, not to mention marketing campaigns and worldwide contracts and partnerships. Biosensors came to Four and told us they needed an electronic solution to control contracts across different continents, freeing up 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 solution was deployed by our experienced consultants, and quickly enabled Biosensors 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 they’ve achieved all their goals, and they can now attach critical metadata to every contract, giving managers more insight at a glance.