Pharmarack Revolutionizes Healthcare Network of India with Informatica’s AI-Powered Data Management Cloud Platform

Rhea-AI Summary

Informatica (INFA) partners with Pharmarack, India's leading commerce-to-insights tech company, to implement intelligent Master Data Management on AWS. The aim is to digitize the pharma ecosystem in India, enhance transaction ease, and standardize data catalog quality across the value chain.

Insights

Market Research Analyst

The partnership between Pharmarack and Informatica represents a strategic move in the digital transformation of India's pharmaceutical sector. By leveraging Informatica's intelligent Master Data Management (MDM) solution, Pharmarack is positioned to address the challenge of data inconsistency across the pharmaceutical supply chain. This initiative could streamline operations, enhance transactional efficiency and potentially reduce the prevalence of counterfeit medications in the market. From a market research perspective, the collaboration could foster increased competitiveness among small and medium enterprises (SMEs) by providing them with access to high-quality data tools previously reserved for larger e-commerce entities. This democratization of technology may lead to a more level playing field and could stimulate market growth, as SMEs are better equipped to compete with larger players.

Healthcare Technology Expert

Informatica's intelligent MDM is a game-changer for a sector like pharmaceuticals where data integrity is paramount. For Pharmarack, the ability to maintain a single 'golden record' for their extensive catalog is crucial to ensure the distribution of authentic medicines. This technology not only promotes efficiency but also plays a critical role in safeguarding public health by mitigating the risks associated with spurious drugs. In the long term, the implementation of such advanced data management systems could set new industry standards, compelling other players to adopt similar technologies to remain competitive and compliant with regulatory requirements. The ripple effect could be the acceleration of digital adoption across the healthcare industry, resulting in improved patient outcomes and operational excellence.

Financial Analyst

For investors, the adoption of Informatica's intelligent MDM by Pharmarack could signal a positive trajectory for Informatica's growth in the Indian market and beyond. The ability of Informatica's IDMC to attract a major player like Pharmarack underscores the platform's scalability and potential for widespread adoption. As Pharmarack aims to standardize data across a vast network of chemists and stockists, the success of this initiative could translate into significant cost savings, increased sales and a stronger market position. These factors could contribute to a positive outlook on Informatica's financial performance and stock valuation, assuming successful implementation and market penetration. However, investors should monitor the progress of this partnership and consider the execution risks and the competitive dynamics of the pharmaceutical and data management industries.

SINGAPORE--(BUSINESS WIRE)-- Informatica (NYSE: INFA), an enterprise cloud data management leader, today announced that Pharmarack, India’s largest commerce-to-insights technology company, has selected Informatica’s intelligent Master Data Management (MDM) on Amazon Web Services (AWS). This Software-as-a-Service (SaaS) offering is part of Informatica’s AI-powered Intelligent Data Management Cloud (IDMC) and aims to support Pharmarack in its mission to digitize the pharma ecosystem in India and significantly improve the ease of transactions between stockists, chemists and pharmaceutical companies across India.

Pharmarack is a pioneering commerce-to-insights technology company addressing core trade challenges encountered by the Indian pharmaceutical industry. Acting as a catalyst, Pharmarack empowers general pharmaceutical trade with a national reach of more than 250,000 chemists and druggists and over 12,000 distributors and stockists trading in more than 300,000 SKUs across six thousand brands. One of the fundamental trade challenges in a marketplace is the consistency of the data catalog throughout the value chain, a problem that Pharmarack aims to resolve using Informatica's intelligent MDM.

Arundhati Kshirsagar, Chief Data & Analytics Officer at Pharmarack, commented, "Informatica's intelligent MDM enables us to address an industry problem related to catalog quality in both online and offline marketplaces. With more than 240 million combinations of listings from over 12,000 sellers, we aim to standardize and enhance consistency across more than 300,000 SKUs, thus improving efficiency throughout the value chain and significantly enhancing the experiences of our stakeholders, including chemists, stockists and pharmaceutical companies."

"With Informatica, we can be assured of a high-quality, consistent master data catalog democratized across all levels and throughout the entire value chain, empowering small and medium business users and reducing time-to-market. This helps address the issue of spurious medicines and ensures the availability of quality medicines to consumers throughout the country," Kshirsagar added.

Resolving data catalog inconsistency and achieving a single golden record when trying to merge more than 12,000 unique independent catalogs is a significant challenge if done manually. With Informatica's intelligent MDM, Pharmarack aims to tackle this problem for an entire industry offering small and medium businesses in India with catalog quality comparable to that of giant e-commerce players. This solution could be used by more than a million chemists and stockists, enabling them to harness the potential of digital technology without concerns about catalog consistency. This is expected to significantly improve the availability of medicines, reduce expiry and enhance efficiency in the Indian pharmaceutical value chain.

"Informatica is pleased to work with Pharmarack in addressing their catalog challenges by providing our market-leading intelligent MDM solution powered by our metadata AI-driven IDMC platform, to resolve issues related to inconsistent, incomplete and inaccurate data, while enabling a 360-degree view of trusted data for users to perform their tasks more effectively," said Steven Seah, Informatica Managing Director, ASEAN, India, and Korea. "The cloud-native, all-in-one solution, along with the low-code/no-code experience and AI-powered automation of our IDMC platform, will enable Pharmarack to streamline their data management environment and scale rapidly, empowering them to unlock valuable data insights and create value for India's healthcare ecosystem."

About Informatica

Informatica (NYSE: INFA), an Enterprise Cloud Data Management leader, brings data and AI to life by empowering businesses to realize the transformative power of their most critical assets. We have created a new category of software, the Informatica Intelligent Data Management Cloud™ (IDMC). IDMC is an end-to-end data management platform, powered by CLAIRE® AI, that connects, manages and unifies data across any multi-cloud or hybrid system, democratizing data and enabling enterprises to modernize and advance their business strategies. Customers in approximately 100 countries, including 86 of the Fortune 100, rely on Informatica to drive data-led digital transformation. Informatica. Where data and AI come to life.

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prteam@informatica.com

Source: Informatica

FAQ

What is the partnership between Informatica and Pharmarack about?

Informatica is partnering with Pharmarack to implement intelligent Master Data Management on AWS to digitize the pharma ecosystem in India.

What is the goal of implementing Informatica's MDM for Pharmarack?

The goal is to enhance transaction ease, standardize data catalog quality, and improve efficiency throughout the value chain for Pharmarack.

How many chemists and druggists does Pharmarack reach?

Pharmarack has a national reach of more than 250,000 chemists and druggists and over 12,000 distributors and stockists.

What challenges does Pharmarack aim to address with Informatica's intelligent MDM?

Pharmarack aims to resolve data catalog inconsistency and achieve a single golden record for more than 12,000 unique independent catalogs using Informatica's MDM.

How does Informatica's MDM benefit Pharmarack?

Informatica's MDM empowers small and medium business users, reduces time-to-market, addresses spurious medicines issue, and ensures availability of quality medicines to consumers.