EncompaaS Wins Fierce Life Sciences Innovation Award for AI-Powered Rebate Management Solution

EncompaaS’ solution recognized for bringing actionable information directly to users by inspecting complex rebate contracts and efficiently extracting data

VALENCIA, CA, UNITED STATES, December 4, 2024 /EINPresswire.com/ -- EncompaaS, a global leader in intelligent information management serving Fortune 500 companies, is proud to announce that it has won the 2024 Fierce Life Sciences Innovation Awards for its Rebate Management solution in the Data Analytics/Business Intelligence category. The awards, sponsored by Fierce Biotech and Fierce Pharma, recognize innovations that demonstrate effectiveness, technical innovation, competitive advantage, financial impact and true innovation.

Harnessing Artificial Intelligence (AI) and Intelligent Document Processing (IDP), EncompaaS’ Rebate Management solution allows pharmaceutical manufacturers to quickly and accurately analyze and extract data from all rebate contracts and amendments, eliminating tedious manual processing and enhancing efficiency. This allows rebate contract managers to visualize critical rebate information in real-time, performing weeks of rebate management work in seconds, supercharging productivity, and delivering better business outcomes across the board.

Despite the sheer scale, breadth and complexity of rebate contracts, EncompaaS supports advanced analytical models, real-time decision-making, knowledge extraction, and automated compliance within the pharmaceutical industry. One of the world’s leading pharmaceutical manufacturers uses EncompaaS’ Rebate Management solution and has extracted over 140,000 data points from more than 10,000 contracts and amendments, saving 4,000 hours of manual processing per quarter and tens of millions of dollars on their rebate management program each year. Please see the case study here for more details.

“EncompaaS is proud to be recognized by Fierce Life Sciences for our Rebate Management solution,” said EncompaaS’ Chief Customer Officer David Gould. “This award represents real industry recognition of our team’s incredible efforts to support our customers in saving time and money in their rebate management programs by eliminating laborious manual processes and enabling them to optimize pricing strategies and resource allocation.”

An expert panel of judges reviewed hundreds of awards submissions and determined which companies demonstrated innovative technologies and services that have the potential to make the greatest impact for biotech and pharma companies.

“The Innovation Awards winners showcase the organizations that have demonstrated innovative solutions that have the greatest potential to save money, engage patients or revolutionize the healthcare industry,” says Rebecca Willumson, SVP and Publisher of Fierce Biotech and Fierce Pharma. “We are very pleased to congratulate the winners on their accomplishments.”

To view the full list of winners and finalists, as well as the Innovation Report, please visit the Fierce Life Sciences website.

About EncompaaS   
EncompaaS, a global leader in Information Management, empowers highly regulated organisations to rapidly mitigate compliance and privacy risks, while unlocking the full potential of their data.

The platform uses next-generation AI technologies to find, enrich, and organize structured, unstructured and semi-structured data into a normalized data quality foundation. This enables automated governance at scale, ensuring information is de-risked, and prepares the highest quality data to fuel upstream processes. 

Headquartered in Sydney, with offices in the UK and USA, EncompaaS optimizes information on-premises and across multi-cloud environments and is trusted by Fortune 500 corporations, government departments and statutory authorities worldwide.

About Fierce Biotech
Fierce Biotech is the biotech industry’s daily monitor, providing the latest news, articles, and resources related to clinical trials, drug discovery, FDA approval, FDA regulation, patent news, pharma news, biotech company news and more. More than 300,000 top biotech professionals rely on Fierce Biotech for an insider briefing on the day’s top stories. Signup is free here.

About Fierce Pharma
Biopharma is a fast-growing world where big ideas come along daily. Our readers rely on Fierce Pharma for the latest news, analysis and data on drugs and the companies that make them. Fierce Pharma covers the pharma waterfront, from late-stage drug development through the entire lifecycle— tracking regulatory approvals, payer negotiations, manufacturing, marketing, patent fights, government investigations and regulation, M&A deals and beyond. Our aim is to analyze the day’s news, showing readers not only what they need to know, but why they need to know it. Beyond the daily, the Fierce Pharma team produces special reports that take stock of the industry’s products and finances, and shed new light on industry trends.

Luke Keding
HKA Marketing Communications
+1 315-575-4491
luke@hkamarcom.com