David Shuford, Sales Consulting Director | March 14, 2023
Whether you are selecting a vendor for a single clinical trial, a program of clinical trials, or becoming an enabled build partner, it’s imperative to select the right technology and partner. The technology must support your business as it grows, and your partner must be committed to your success.
RTSM is not yet a mature software space
In a mature market, customers focus is on costs rather than benefits. This is not the case today in the RTSM software market. The service provided today by software vendors varies widely, with conveyed benefits varying greatly. Consolidation has yet to occur, as commoditization of systems and capabilities is realized. With a maturing market, we would expect to see a move from customization and services-led companies to more configurable platforms that increasingly rely on technology, than services, to ensure customer success.
Against this backdrop, it’s important for customers to choose the right partner, whether it’s a tactical decision for a single clinical trial now or a strategic decision for future studies.
Takeaway
As the RTSM space matures, many vendors will struggle to survive as price competition heats up and profit margins shrink. Vendors with configurable, scalable technology will win and those vendors reliant on services will struggle. Vendors that are able to offer traditional RTSM capabilities within clinical trial platforms will have the added advantage of providing customers with additional synergies without the need for expensive and timely integration projects.
Learn more about Clinical One Randomization and Supplies Management.
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