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July 6, 2023

5 questions to ask your insights management vendor

Before you invest in a new solution, here’s what you need to understand.
insights management vendor
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If you’ve heard more about insights management lately, it’s no surprise: the topic is at the forefront of many industry conversations. We’ve compiled some guidance to help you as you look for an insights management vendor.

Amid an increasing awareness that a lack of insights can threaten critical business processes, pharma teams need a way to integrate fragmented technologies and unify disparate processes into a more cohesive strategy.

Some innovative teams are investing in insights management platforms explicitly built for the life science industry. But pharma leaders want to know: how will another technology investment work with the tools I already have and need to use? What does my team need to know? And how will a new solution support security and compliance?

Ready for insights management? We’ve got a buyer’s guide for that.

Selecting the right insights management platform begins with asking the right questions. If you’re considering a solution, it’s critical to get a clear understanding of what a long-term partnership with a prospective vendor will look like.

While some tools will solve part of your insights management challenges, few will help you move closer to an end-to-end solution on their own. Here’s how to determine if the solution you’re evaluating has everything you’re looking for.

Does the company have a strong strategic vision?

Investing in technology means finding a solution that helps you now and will support you as your organizational needs change. What are the company’s plans to address emerging industry trends, and how does the vendor roll out new features to customers?

How is customer support defined?

Does the platform you’re looking at include support for your critical projects, or must you purchase an additional support package? Does customer support only include tactical and technical questions or are clients set up for ongoing strategic success?

What’s the timeline for return on investment?

Understanding how technology will help you and within what timeframe can help you make an investment decision. Ask if the vendor has processes to ensure your team will get the most out of the platform.

How does the vendor ensure compliance?

Questions about data security and privacy should be the top priority. Don’t forget to thoroughly understand how any solution helps you stay compliant.

What’s the solution’s impact on strategy?

Many tech solutions help organize or store information. But pharma teams need a way to extract insights – real turning points that change behavior – from the wealth of information they collect. Ask vendors how their solution will help your team reduce the time spent on tactical tasks so you can focus on strategy and how any product features will move you toward a deeper understanding of your competitive landscape.

Get a complete list of questions to ask an insight management vendor and an overview of the buying process in our insights management platform buyer’s guide.

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