Friday, 12 July 2024

Pharmarack, Informatica partners to revolutionize Healthcare Network of India

05 March 2024 | News

The AI-powered Data Management Cloud platform initiative can support India towards digitizing the pharma ecosystem and significantly improve the ease of transactions between stockists, chemists and pharmaceutical companies across the country

Photo Credit: iStock

Photo Credit: iStock

Informatica, an enterprise cloud data management solution provider, 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. 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.

By leveraging Informatica's intelligent MDM, Pharmarack aims to forge small and medium businesses in India catalog quality comparable to that of giant e-commerce players. More than a million chemists and stockists could benefit from this solution without having to worry about catalog consistency. In the Indian pharmaceutical value chain, this will increase availability, reduce expiry, and enhance efficiency.

Steven Seah, Informatica Managing Director, ASEAN, India, and Korea said "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."

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