(Minneapolis, Minnesota and Princeton, New Jersey, U.S.A) - Fair Isaac Corporation (NYSE:FIC), the leading provider of analytics and decision management technology, today announced a strategic alliance with Skura Incorporated, the leader in life sciences CRM solutions. The relationship will provide companies in the pharmaceutical, biotechnology and medical device industries with an end-to-end solution to effectively comply with new state spend regulations.
As state lawmakers and government authorities impose stricter regulations on Healthcare Practitioner/Organization (HCP/O) spend, companies need to adapt their sales and marketing practices to remain compliant. Such compliance involves effectively monitoring promotional or aggregate spend associated with HCP/Os across multiple departments and systems, and providing individual state reports with this information to successfully support current legislative requirements, including those regulated by the FDA and Office of Inspector General (OIG), PhRMA guidelines and the AdvaMED Code of Ethics.
The alliance gives regulated companies the solution they need to address these challenges by combining Fair Isaac's State Compliance Decision Manager™ solution with Skura's strong domain expertise in Oracle Siebel customer relationship management and business intelligence systems for pharmaceutical companies. Specifically designed for the pharmaceutical and medical device industries, State Compliance Decision Manager provides a complete view of all spend against all recipients. By interfacing with the sales force automation (SFA) and other packaged or homegrown applications of joint customers, the combined solution helps drive compliance through effective reporting and management of enterprise promotional spend.
Organizations using this solution gain valuable insights based on spend data to help maximize sales and marketing efficiency, and facilitate critical channel mix and decisions on resource optimization. It allows them to migrate from a retrospective focus of "What did we spend" to a predictive focus on "How will and how should we spend" to predict and allocate future commercial spend.
"A successful, company-wide compliance reporting solution is based on a solid foundation, a sound business process, reliable data, and easy-to-use technology," said Barry Crowther, President/COO of Skura Incorporated. "Skura's deep understanding of pharmaceutical business processes and systems, combined with Fair Isaac's natural language decision engine, delivers a robust yet flexible State Compliance Decision Manager solution that maximizes our customers' existing IT investments."
Fair Isaac's State Compliance Decision Manager solution combines extensive industry expertise in state legislation and policy, business process optimization, and data strategy and mapping with the company's industry-leading Blaze Advisor™ business rules management system. The product gives pharmaceutical companies greater process control by enabling business users to quickly and easily add, delete and modify state-level business rules as regulations change and as new states are added, without having to change code in existing systems.
"In this era of increased regulatory requirements and accountability, pharmaceutical and device firms look to partner with proven solution providers that can help them turn regulatory constraints into competitive advantage," said John McDowell, vice president of Client Services, Pharmaceuticals, at Fair Isaac. "The agreement with Skura enables broad and seamless integration of our State Compliance Decision Manager technology with our customers' Oracle Siebel back-end systems. Customers can significantly increase business agility and performance by implementing and enforcing public policy changes quickly and accurately, reducing time and costs to incorporate aggregate spend charges, and accelerating development and reporting."
Skura is a provider of Oracle Siebel CRM consulting services and market-leading innovating software solutions for eDetailing and Closed-Loop Marketing for Life Sciences companies. Founded in 1996, Skura has grown into an international company with an extensive customer base throughout the US, Canada and Europe.
Skura offers extensive business consulting, technical, and industry experience in the areas of Business Process Mapping, Oracle Siebel CRM, Business Intelligence, Data Management, State Reporting and Compliance, and Training. Skura has also developed innovative software solutions such as the SFX product suite that addresses eDetailing and Closed-Loop Marketing. Skura's mission is to solve problems for customers in the Life Sciences industry and to build long-term relationships, both as a trusted advisor and as a solution provider. Skura has built its reputation by striving to exceed customer expectations. Learn more about Skura at www.skura.com.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) combines trusted advice, world-class analytics and innovative applications to help businesses make smarter decisions. Fair Isaac's solutions and technologies for Enterprise Decision Management turn strategy into action and elevate business performance by giving organizations the power to automate more decisions, improve the quality of their decisions, and connect decisions across their business. Clients in 80 countries work with Fair Isaac to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. Fair Isaac also helps millions of individuals manage their credit health through the www.myFICO.com website.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its State Compliance Decision Manager solution and Blaze Advisor business rules management system and the benefits to be derived from these offerings, and the relationship described herein, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offerings, the risks that customers will not perceive material benefits from the offerings, failure of the products to deliver the expected results, the possibility of errors or defects in the offerings, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2006, and quarterly report on Form 10-Q for the period ended March 31, 2007. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.
Fair Isaac, State Compliance Decision Manager and Blaze Advisor are trademarks or registered trademarks of Fair Isaac Corporation, in the United States and/or in other countries. Other product and company names herein may be the trademarks of their respective owners.
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