Bioventus faced challenges in managing complex agreements through manual processes, resulting in incomplete and inaccurate documents, missed cost recovery opportunities, and a lack of visibility into program performance. This jeopardized compliance with legal requirements and cost recovery policies, affecting the global order-to-cash process. To address this, Bioventus partnered with Auritas to implement solutions in Customer Contracts and Pricing Management Rebates and Chargebacks.
Auritas planned to replace Bioventus' existing system with Vistex contract and pricing management, integrated with SAP S/4 Sales and Distribution. The phased, 5-month implementation aimed to automate and govern the contract life cycle and rebate/chargeback processes globally. The benefits included standardized contracts, reduced manual tasks, history tracking, robust approval mechanisms, and global visibility through on-suite reporting.