The SaaS Start-Up Proves the Potential of LLM & NextGen AI to Unite Compliance Across Multi-Cloud Environments with Over 30 Percent Increase in Resources Efficiency & Risk Mitigation Accuracy

CHICAGO and HOUSTON, Sept. 24, 2024 /PRNewswire/ — Today, on the heels of the Informa Connect Medicaid Drug Rebate Program Summit (MDRP), two-year start-up RevSavvy, the software as a service (SaaS) and consulting provider to leading companies in the pharmaceutical and healthcare industries, announced new capabilities to their automated revisions and compliance (ARC) platform, a technology integration partnership with global leading IT consulting services provider CGI Global, brand refresh and expanded leadership bench, as it prepares to address the immediate $11.1 billion dollar opportunity to simplify regulatory compliance maintenance for the Life Sciences field through end-to-end automation, and target the broader compliance opportunity presented by the increasing need to customize cloud environments to reach full return on investment potential. The company’s announcement comes following multiple proof of concepts (PoCs) and a 32 percent average raise in compliance efficiency for just one end-to-end revenue management software revision cycle, leveraging their advanced large language model (LLM) based platform. Through the ARC platform, two of the top 10 global companies in the pharmaceutical and healthcare industry saw as much as a half-a-million dollars in projected savings during PoC testing.

 RevSavvy co-founders Stacy Varghese and Kristina Roach hold a combined experience of nearly 40 years within the Life Sciences and Technology field – that spans AbbVie, Astellas Pharmaceuticals, Walgreens, Exact Sciences, Takeda Pharmaceuticals, Model N and Gilead Sciences. ARC is the first automated compliance and revisions technology platform with advanced artificial intelligence models trained by years of human expertise, rarely found in the Life Science and technology fields.

“Industries that face high scrutiny to stay compliant with internal policies and governing bodies like the FDA have long been challenged to invest in new breakthrough technologies due to the burden of revision maintenance,” said RevSavvy founder Stacy Varghese. “The benefits of the cloud are beginning to emerge with greater customization, and that creates a continuous slow down for companies every time a ‘standard’ update is pushed through from a software provider, or the business sees a need to bring in a new operational technology solution. It’s a new era of multi-cloud potential today, but off the shelf solutions and legacy software make compliance for a customized cloud costly. RevSavvy saw the opportunity in new advances like LLM and generative artificial intelligence (GenAI) to build ARC and finally. The results are already showing industry giants they can customize and comply, without burning through resources.”

The global compliance management software market is projected to $73.18 Billion by 2030¹ resulting from the lack of talent expertise, heavy need to streamline through automation to keep pace with changing regulations and growing reliance on cloud-based technologies. However, regulated industries are cautious to adopt such solutions due to the potential costs that come with compliance errors. In fact, some studies have assessed one mistake can result in an average loss of $5.87 Million in revenue, due to a single non-compliance event. As a result, risk assessments, testing, and documentation compliance has relied on the manual efforts of a limited pool of accessible talent with the regulatory experience to meet standards. Resulting in repetitive, tedious and tiresome work environments, that keep top expertise focused on constant testing versus new innovation implementations, research and career-making opportunities.

ARC by RevSavvy, offers talent a new path to efficiency on the back end, freeing minds to pursue new advancements and breakthroughs, with higher ROI implementation potential. In fact, the PoCs RevSavvy successfully completed with Pharmaceutical and Healthcare companies that rank among the top ten in global revenue, saw 900+ potential expert talent hours freed up for redirection and reinvestment across business, compliance, IT management, IT support and consulting division teams – based on the average burn provided directly from each PoC company. Overall, average savings were upwards of $500,000 based on a full cycle of software maintenance updates and revisions made to revenue management software already in place. A full case study can be found here.

Full platform features available with ARC include:

• Requirements Library: compatible with customers formats and PDF files
• Context Configuration Library: industry and business language-specific context tagging provides expertise at an automated level
• Software Automated Artifacts Library: compatible with any software, including Model N
• Boundary System Library and Labels: Identifies adjacent ecosystem and impact-risk to operational applications – including Master Data Management (MDM) i.e. Informatica, SAP Master Data Management, Tibco, Enterprise Resource Planning (ERP) i.e., SAP S4 HANA cloud, Oracle EBS, Microsoft Great Plains etc., Electronic Data Integration (EDI) i.e., OpenText, Inmar etc.; Data Warehouses and Infrastructure i.e. AWS, Snowflake, Teradata etc.; Business Intelligence Platforms i.e.; QlikView, Salesforce (Tableau), Microsoft Power BI etc.
• Release Notes Library and Storage: compatible with software providers PDF files
• Defect Library: for historic analysis of areas of highest risk and trends, over time.
• Testing Functionality and Documentation Library: for historical compliance and regulatory documentation tracking
• SDLC Template Library: customized to customers SDLC-specific needs
• User List, Roles and Access: enhances trust, security and ensures an added layer of guidance and risk mitigation
• Release Impact Assessment: LLM-based risk assessment identification through analysis of business policies/requirement, industry regulation standards and test scripts
• Enhanced Progress Dashboard – detailed metrics, visual charts of usage, risk mitigation statistics, requirements and tasks completion tracking

The end-to-end automation capabilities from ARC by RevSavvy are immediately available for early access through a new partnership disclosed today between RevSavvy and CGI Global. Through a bi-lateral partnership agreement, CGI customers will be able to tap into all ARC features, before full market access opens in late October.

“CGI is thrilled to announce our strategic partnership with RevSavvy,” said Jenn Foster, Director, Consulting Services Life Sciences for CGI Global. “Together, we’ll leverage our combined expertise to deliver innovative solutions that drive operational excellence and create tangible value for our clients.”

The partnership marks the growth of the brand into a broader technology market. With the start-up poised to accelerate growth and investor conversations, RevSavvy has brought on Hanley Hansen as the new resident Chief Technology Officer and released a new logo and new updates to their website that embody their focus on simplifying multi-cloud compliance. A new website also features a customizable ROI calculator for prospects to see savings potential through an ARC by RevSavvy platform implementation. Visit the newly launched site to set up a demo of ARC by RevSavvy today.

ABOUT REVSAVVY LLC
RevSavvy LLC, was co-founded in 2022, by Stacy Varghese and Kristina Roach, as a provider of consulting expertise and implementation guidance on advanced internet technology solutions, to leading companies in the pharmaceutical and healthcare industries. Leveraging nearly 40 years in the technology and life sciences field, both women evolved their offering around a vision to build the next breakthrough in automated backend compliance for the new era of customized multi-cloud ecosystems. In 2024, RevSavvy LLC released a new software as a service (SaaS) platform for automated revisions and compliance – ARC by RevSavvy.

MEDIA CONTACT
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info@rev-savvy.com
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¹ FUTURE DATA STATS: Regulatory Compliance Management Software Market Size Global Report 2024-2032

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SOURCE RevSavvy