It’s almost axiomatic that no one was ever fired for choosing one of the top five CROs to run a clinical trial. After all, these companies have the most resources, the best people, more experience, and great systems and processes. They’re able to sell with their A-team.
Unfortunately for many small to medium sized customers, such companies sometimes deliver with their “C Team” saving their A-team for the bigger, more highly funded programs. For smaller companies, a project’s budget may be a tiny fraction of the gross revenue of the larger company. If you contract with a company having $4+ billion in annual revenue, your $3 million budget is only 0.075% of their revenue. Unfair, definitely. But a reality.
This same reality applies to selecting Clinical IRT vendors. A small company’s annual volume of IRT needs is likely also to be small, further compounding the issue of relative importance to a large vendor’s bottom line. The challenge, then, is to include ‘right-sized’ companies in your IRT review list.
Smaller companies may be a better match for your project and can still provide the experience, knowledge, and attention you need. Smaller vendors tend to be more flexible, responsive, and affordable than the larger vendors. And they can often deliver your project faster than the ‘big guys’.
When considering the right size vendor, ask yourself: Have you been satisfied with the level of attention you’ve received from the team assigned to your project? When you’ve had an issue in your study, were you able to get company leaders on the phone to resolve the issue? Has your vendor performed as an active ‘partner’ helping you meet project needs, providing up-close and personal value-added? Does the vendor make changes to your project system quickly and efficiently?
If the answer to any of these is ‘no’ it may be useful to consider right sizing.
The chart below is a simple rule-of-thumb for which vendor (based on relative size) you may consider. Basically, select a vendor who is up or down one level to find your best match.
At Veracity Logic, we recognize that the needs of the small company are just as vital as those of the large Sponsors and CROs.
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