BRISBANE, Calif., June 28, 2018 (GLOBE NEWSWIRE) -- Pramata, the leading commercial relationship operations company, today announced that global pharmaceutical leader Allergan has implemented the Pramata Billing Accuracy solution. Allergan, which recorded $16 billion in revenues in 2017, cited rapid growth and complexity of commercial relationships as catalysts for seeking an automated solution to enhance contract management capabilities and revenue control.
“Since we've gone live with Pramata, we've generated a lot of excitement and adoption around the solution, and our team is seeing huge strides in our contract reporting capabilities,” said Michael Richardson, Executive Director, Allergan. “Pramata enables us to retrieve specific information within customer contracts in minutes or a few hours, compared to the many hours it took before implementation.”
By using Pramata, Allergan sees significant value in dramatically improved information accuracy, better managed customer pricing variables, and better assurance of account alignment.
“To me, the most attractive thing about Pramata is the software-as-a-service aspect. It allows us to basically eliminate the need to manually enter this information,” said Richardson. “With Pramata, we have a team that is digitizing our documents, understanding the nature of the terms and conditions, normalizing the data, and then updating the software platform according to our design specifications. To me, that is a huge benefit.”
With Pramata, Allergan takes a complex and diverse array of commercial agreements, efficiently captures the important terms of those agreements and delivers this information in the most useful and actionable way to stakeholders who manage the company’s contract commitments and requirements. Pramata handles the heavy lifting, allowing Allergan to see a measurable difference in resource commitment and related costs.
“Our Billing Accuracy solution targets a key point in the customer lifecycle where companies are often spinning their wheels trying to piece together critical commercial terms and coming up way short on accuracy and their ability to avoid revenue leakage,” said Praful Saklani, CEO at Pramata. “It’s exciting to see Allergan using Pramata to bring their relationships into a clearer, more actionable view for their finance teams and to witness results.”
“A key element to what Pramata offers is a team that is dedicated to Allergan,” said Lauren Dwyer Mihlon, Associate Director, Strategic Contracting, Allergan. “They know our business inside and out. So, the communication between us that keeps our commercial relationship system of record up to date works very well. There are other systems available, but Pramata’s power and capabilities are tailored to the enhancements we were seeking.”
About Allergan PLC
Allergan plc (NYSE:AGN), headquartered in Dublin, Ireland, is a bold, global pharmaceutical leader. Allergan is focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical and regenerative medicine products for patients around the world.
About Pramata
Pramata helps large B2B enterprises eliminate revenue leakage. Pramata has created millions of dollars in value for some of the largest companies in the world including Allergan, CenturyLink, Comcast Business, FICO, NCR, Micro Focus, Novelis and Vertafore. Headquartered in Brisbane, CA, Pramata also has offices in Kansas City, MO, and Bangalore, India. For more information, visit www.pramata.com.
Media Contact:
Marina Greenwood
Activa PR for Pramata
415.776.5350
marina@activapr.com