Stratos Consulting
Tailoring Technology Solutions for Life Sciences

Consultancies often use a one-size-fits-all approach for clients, regardless of industry. This methodology often fails with life sciences companies due to the complexity and scale of their data.

Stratos is a consultancy that combines technology expertise with life science industry knowledge in the areas of Enterprise Performance Management, Data & Analytics, and Managed Services. Stratos works with FP&A, Commercial, and Strategic Sourcing teams on large scale projects to use technology to accelerate their enterprise.

Familiarity with life sciences datasets, technologies, and collaborative relationships is crucial for Stratos' support in the pharmaceutical industry. This allows Stratos to support life sciences companies through their entire developmental timeline, from drug development to commercial launches.

“By understanding the nuances of life sciences enterprises, with variations in size and lifecycle evolution, we employ a customized approach involving precise recommendations derived from shared challenges encountered by similar-stage companies in the past,” says Nicholas Mann, Founder and CEO of Stratos Consulting.

Stratos Consulting’s mindset when it comes to implementations is focused on doing right by the client and prioritizing client relationships. Stratos excels because of its flexibility and commitment to building trust and long-lasting partnerships.

Stratos collaboratively seeks to understand client challenges to better comprehend project complexity and scale. Following deep requirements sessions, Stratos comes up with a strategic plan and determines if a short-term engagement is enough or if a longer deployment is needed.

Their partnership with a multi-billion dollar pharmaceutical company highlights its adaptability.

This client uses Stratos to streamline supplier spend management and reduce duplication across their network of suppliers.

During this engagement, Stratos confronted many hurdles in accessing the client’s critical supplier-related data. Addressing queries about suppliers, expenditures, contract timelines, and risk evaluations required significant time and effort. The client manually retrieved spend data from the ERP system, extracted contract-related information from the dedicated management system, and sourced risk profiles from external providers like Dun and Bradstreet. This process wasted time and money, costing the client approximately $1 million each year.

To overcome these challenges, Stratos developed a transformative solution Supplier 360 Analytics, which seamlessly consolidates data from the ERP system, contract management platform, and external risk assessment sources into a unified data repository.

Stratos developed an intuitive Tableau dashboard for users to easily access detailed information on suppliers, including expenditure trends, purchase orders, contracts, and fund allocation. The solution enables real-time data access for informed decision-making. The dashboard drives cost savings, collaboration, strategic sourcing, and negotiation capacity for the pharmaceutical client.

Stratos' exceptional ability to accommodate evolving project scope is truly noteworthy. Equally impressive is their vast technological expertise to tailor solutions for diverse client needs.

Beyond delivering quality solutions, Stratos aims to empower its clients by giving them the tools they need to grow their careers. Their team members help coach and mentor clients to position them for promotions and future career opportunities. Stratos builds lasting partnerships with its clients and gets fulfillment from seeing them succeed.