PALO ALTO, Calif. and KING OF PRUSSIA, Pa., April 21, 2015 /PRNewswire/ -- Reltio, the enterprise data-driven applications and modern data management company, and Health Market Science (HMS), a LexisNexis company, announced today the growing use of Reltio Cloud data-as-a-service (DaaS) delivering HMS Provider MasterFile data to multinational pharmaceutical and medical device manufacturers, as well as emerging startups preparing for product launches.
This significant rapid growth demonstrates an urgent and need for Data-as-a-Service delivered through data-driven applications for daily use by frontline business teams. The applications show the breadth and depth of relationships between people, organizations, associations, affiliations, products and services, locations, and more, enabling valuable insights and recommended actions that can immediately benefit R&D, commercial operations and compliance.
"Through Reltio Cloud data-as-a-service we get access to the highest quality data from Health Market Science," according to the Director of IT at a leading international pharmaceutical company focused on developing and commercializing meaningful products that address unmet medical needs. "We love that we have the freedom to choose our data from a trusted provider. Having on-demand access to accurate customer data directly within our CRM applications enables our sales teams to be more agile and productive."
Reltio gives companies an open turnkey option to select any combination of data providers, pre-integrated and accessible through simple point and click. LexisNexis keeps its HMS Provider Master File current via a patented data processing and management platform that rapidly processes and validates thousands of authoritative sources. This on-demand access allows business users to directly search for and acquire the data they need and dynamically "on board" and combine the data with their own. They can then provide feedback on, and updates to, the data seamlessly within the Reltio application. This improves the quality of data for those who need the best information possible.
"Through our close working relationship, LexisNexis and Health Market Science have jointly been able to offer several life sciences companies the highest level of data quality and service," said Theresa Greco, SVP, Life Sciences, LexisNexis Risk Solutions. "We've seen growing adoption from life sciences companies looking for the best health care practitioner, organization and affiliation data to plan their launches, as well as by those needing to better understand their markets, optimize their marketing effectiveness and support Open Payments compliance needs. It benefits our customers to be able to quickly provide 'just-in-time' information to business users using Reltio data-driven applications."
With Reltio DaaS, IT teams - which are often saddled with, and wrongly pointed to, as bottlenecks, due to the need to have ETL uploads, and tasks like constant verification of changed data between batches - are now free to focus on more pressing matters.
"We believe DaaS is an essential part of a modern data management platform which in turn should be built into data-driven applications," remarked Gary Ryan, VP of data partnerships, Reltio. "In addition to business user benefits, IT can not only improve efficiency and drive down cost, but also be more compliant by tracking update and consolidation of all attributes across all sources, internal and external. This gives them full visibility as to how the data procured is benefiting business users in their day-to-day goals."
Reltio accelerates and improves the effectiveness of business decisions and operations through data-driven applications that business users such as sales, marketing and compliance professionals - rather than just data scientists - can use every day. Reltio DaaS can also be used to continuously deliver timely data between Reltio data-driven applications as well as feeding existing legacy applications and data warehouses. This allows high quality data, created for the specific business objectives in each group within a life sciences company, to be shared across the enterprise.
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Reltio delivers reliable data, relevant insights and recommended actions so companies can be right faster. Reltio Cloud combines data-driven applications with modern data management for better planning, customer engagement and risk management. Reltio enables IT to streamline data management for a complete view across all sources and formats at scale, while sales, marketing and compliance teams use data-driven applications to predict, collaborate and respond to opportunities in real-time. Companies of all sizes, including leading Fortune 500 companies in healthcare and life sciences, distribution and retail rely on Reltio. For more information, visit www.reltio.com.
About LexisNexis Risk Solutions
LexisNexis Risk Solutions (http://www.lexisnexis.com/risk/) is a leader in providing essential information that helps customers across industries and government predict, assess and manage risk. Combining cutting-edge technology, unique data and advanced analytics, LexisNexis Risk Solutions provides products and services that address evolving client needs in the risk sector while upholding the highest standards of security and privacy. LexisNexis Risk is part of RELX Group plc, a world-leading provider of information solutions for professional customers across industries.
Reltio, Reltio Cloud, Reltio Data-Driven Applications, Be Right Faster are all trademarks or registered trademarks of Reltio Inc. All other names and trademarks are property of their respective firms.