Should you choose the largest and best-known vendor to support your clinical trial? You’ve seen them at conferences, these companies have the most resources and great marketing — does that mean that they are the safe choice because they are well known?
Maybe.
But when you are a small to medium-sized customer, big companies sometimes deliver with their “C Team” after the sale, saving their A-team for bigger, more highly funded programs.
Working with them is like being a small frog in a big pond, because a smaller company’s project’s budget may be a tiny fraction of the gross revenue of the larger company. For example, if you contract with a company having $4+ billion in annual revenue, your $3 million budget only amounts to 0.075% of their revenue.
This same reality applies when smaller CRO’s or Sponsors select Clinical IRT vendors.
Consider the tradeoffs:
| Small Company | Large Company | |
| Quality/stability | Experienced and stable staff; you will know who will be on your project team | May assign junior or rotating members to your project team |
| Speed | Fewer stakeholders result in quicker approvals (applicable to CDA, MSA, RFI, RFP, SOP, CO*) |
Many stakeholders and levels of approval can cause delays (applicable to CDA, MSA, RFI, RFP, SOP, CO*)
|
| Flexibility |
Most team members are Cross-trained and can perform multiple duties
|
Most team members are specialized; cannot perform tasks outside the scope for which they were primarily hired. |
| Team environment | Team members are more impowered |
Team members may have Less/or no empowerment
|
| Team environment | Less turnover
Distinct work culture |
Higher turnover Numerous departments; can have differences in management |
| Flexibility | Easier to make changes. Processes can be adapted more quickly, as fewer decision-makers involved | Established processes and more decision-makers may make changes more difficult |
| Communication and Responsiveness. |
Prioritize client meetings and turn requests around asap. Clients can expect to reach the team 24/7
|
Can be difficult to reach team members directly; may have to start with tech support calls |
| Customization | More customized approaches; completed in less time | Customized approaches may take longer due to the approval process |
| Cost | Lower due to less overhead |
Can be higher due to more overhead
|
At Veracity Logic, we deliver all of our projects with our A team.
Contact us to learn more about the Veracity Logic system and how we go the extra mile for our clients.
* Terms used: CDA- Confidential Disclosure Agreement
MSA- Master Services Agreement
RFI – Request for Information
RFP – Request for Proposal
SOP- Standard Operating Procedures
CO – Change Order