Florida Based Specialty Generics Manufacturer Implements Solution for Managing Chargebacks
Bridgewater, NJ – March 10, 2015 – iContracts, a leading provider of solutions for managing corporate contracts, commitments, and compliance today announced that Virtus Pharmaceuticals, a generics manufacturer focused on products in specialty driven markets, has gone live with iContracts Chargeback Payer. Virtus selected iContracts full suite of solutions to manage their critical contract processes and recently completed the successful implementation of Chargeback Payer.
iContracts Chargeback Payer allows a company to speed through the process of validation, reconciliation, payment and notification. User defined tolerance settings in combination with fully automated repair routines, puts the manufacturer in control of this critical business processes. The entire suite of products are based on iContracts’ Better Contracting Solutions (BCS) platform and will help life sciences companies of all sizes manage their portfolio of products and high volume transactions.
“We are pleased to have successfully completed the implementation of iContracts’ Chargeback Payer module,” stated Jagadesh Rajan, Vice President of Finance of Virtus Pharmaceuticals. “The implementation process was seamless and given the intuitive nature of iContract’s solutions, we have simplified the process of managing our chargebacks. Working with the iContracts team has been an absolute pleasure and we look forward to implementing the full suite of solutions to enhance our customer experience and provide additional efficiency to Virtus.”
“We are gratified to be working together with a manufacturer as respected in the industry as Virtus Pharmaceuticals on this important initiative,” commented Leigh Powell, Chief Executive Officer of iContracts. “As Virtus continues to grow, iContracts’ robust solutions will scale along with their needs, while continually evolving to meet the ever changing demands of the industry. It has been a privilege to work with the Virtus team to achieve this significant go-live milestone and we look forward to supporting their continued growth and success in the future.”
Virtus Pharmaceuticals successful go-live on Chargebacks will be followed by implementation of the remainder of iContracts full suite of solutions including Rebate Payer, Medicaid Payer, Government Pricing, Gross-To-Net and Analytics & Reporting. iContracts’ solutions are available as an “on demand” service or as a behind-the-firewall offering and are built on iContracts’ revolutionary BCS platform featuring an advanced data architecture, rich functionality and Simplified Common User Interface (SCUI) enabling users to execute any process after learning just two basic page formats. This groundbreaking design drastically reduces implementation; training and future upgrade timeframes and costs. iContracts offers a competitive migration program for organizations who are thinking about making a change from their existing platform.
About iContracts
iContracts’ goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by understanding a few core concepts, iContracts solutions are backed by the most highly evolved cloud-based architecture in the industry, built by technologists with extensive contract management experience. iContracts comprehensive suite of solutions revolutionize how organizations think about and manage all aspects of a company’s contract management process, transforming it from an unwieldy collection of spreadsheets, customer applications, filing cabinets, and scattered electronic directories to a powerful tool that aligns strategy with execution, while simultaneously insuring greater visibility into commitments and the ability of companies to support growing needs for regulatory reporting and audits. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers.
About Virtus Pharmaceuticals
Virtus Pharmaceuticals is a specialty niche pharmaceutical company focused on the development of generic prescription products primarily in specialty-driven markets. Virtus focuses on difficult and challenging to manufacture drugs. Virtus Pharmaceuticals mission is to be the leading specialty niche pharmaceutical company providing the highest quality products through experienced leadership, innovative approaches and outstanding customer service. At Virtus Pharmaceuticals, we aspire to be the best. For us, that means more than merely making a difference: We aspire to make a world of difference in generics.