“We are currently using three vendors that we had the opportunity to meet at the Evolution Summit. The two project-based contracts we signed are worth around USD 900,000 in total. The other contract is approximately USD 250,000” said Jessica Raiz, Vice President Clinical Operations, Timber Pharmaceuticals, a delegate at the Marcus Evans Evolution Summit in North America.
The Summit met two main objectives I had. First, to network with colleagues and learn from others in the field. Secondly, to be introduced to new vendors that we did not have relationships with, who had new approaches, technologies or systems that could enhance our projects. I wanted to evaluate vendors as we were planning to launch two phase III studies, and my goal was to launch the projects with the best vendors and best technology we could.
I found our one-on-one meetings very helpful. They were a good mix of vendors that were completely new to me and vendors I had vaguely heard of. We are currently working with three new vendors as a result of those meetings. The two project-based contracts we signed are around USD 650,000 and USD 250,000. The other contract is approximately USD 250,000.
Not necessarily. We get inundated with many vendor calls and emails. What we get at the Evolution Summit is actually the chance to get a short demonstration, the chance to speak directly about our specific needs, and how they can potentially help. That is the benefit of the Summit versus sending emails back and forth to set up a meeting. It takes a lot more time when you do not know what differentiates them from others.
The executives we met from the vendors we chose were all very high up in their organization and knowledgeable about their products. It was not merely a sales pitch. That gave me additional comfort that should anything go wrong, we have developed a relationship, they value our business, so they will assist me in every way they can. Having that personal connection is very valuable. We are not just another number to them.
Usually vendors have booths and it is up to me to initiate conversations, but if I do not know anything about them, or if their booth is unappealing, I will not necessarily approach them. I might miss opportunities by not getting that chance to sit down with them. That is different from Marcus Evans Summits where the one-on-one meetings are pre-scheduled and you can read their bio beforehand.
I also find the small roundtable break-out sessions incredibly valuable You can hear how multiple executives are dealing with the same challenges you are experiencing.
Find out more about the upcoming Evolution Summit.