What's new in Inova: Contract Management

Welcome to our June newsletter! In our last webinar, we tackled alliance management best practices with the help of Rob Barber, Senior Alliance Manager at Mundipharma, and Philippe Lievre, Global Head Pharma Alliance Management at Novartis (if you missed the webinar, check out the recording here).
Today, we're taking a look at Inova’s contract management features and how they help biotechs like you efficiently manage and monitor your agreements. Whether you have just a couple of contracts or hundreds, Inova provides key features to help you structure, organize and follow-up on them.
Continue reading to learn more.

Safeguard and manage your contracts easily

Inova provides a safe harbor for your contracts whether they’re a CDA, MTA, licensing, collaboration or supplier agreement. Simply create the contract or agreement and note important details such as the status, effective date, notice date, expiry date, territory and description. From there you can attach the contract, emails, documents exchanged, project meetings, contacts, and obligations.
Inova stores key contract information in a structured, easy-to-understand way. You no longer have to reread the whole contract just to double check information. The next time you have a question or a doubt, you can refresh your memory instantly. Your future self will thank you!

Get a clear overview of all your contracts

With everything in one place, you’ll have a clear overview of all your contracts, who they are with and what they cover. For example, you can quickly find out if your company already has (or previously had) a contract in place with a CRO or CDMO. The next time you are looking for a contract research or development partner, you’ll have a head start on the process.

Report on your contracts and payments

Once you’ve set up your contracts, it is a breeze to monitor, forecast and analyze them. Inova’s reporting allows you instantly view all of your contracts, including their status, related obligations and key dates.
You can also set reminders for yourself or your colleagues (including those not using the system) for key contract dates, so you always know what contracts are coming up and what actions need to be taken.

Collaborate better internally and externally

Inova’s contract management gives your internal collaboration a boost with support for finance and legal information tracking. Keep everyone on the same page by inviting your finance and legal colleagues to use the platform. By setting reminders you can ensure that key information is updated or verified on a regular basis.
Our peer matrix will also smooth the way for your external collaboration by showing you who is in charge of what on both sides of the partnership. You’ll always know exactly who to reach out to for each issue.
To learn more about contract management in Inova or to get started today, contact your Customer Success Manager.