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Pros and Cons of Partnering with a Contract Research Organization

Umar Nisar

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Contract Research Organization

When it comes to developing a new drug or testing a device, you, as a sponsor, can either partner with biopharma companies or a Contract Research Organization (CRO) to perform clinical trials.

However, you should not forget that a pharmaceutical company might not be well-equipped to perform trials at a large scale. This is why partnering with a CRO makes much more sense because they have a team of experts and scientists who are particularly trained to perform such trials.

To give you a better understanding of how this partnership works, here we list three pros and cons of working with a Contract Research Organization for a clinical trial.

Pros

Sponsors can assign most of their duties to CROs

One of the best reasons why sponsors prefer working with Contract Research Organizations is that they can assign all their duties to the CRO team. This enables the sponsors to perform a clinical trial even when they cannot be there to monitor the trials.

However, for this, you need to work with a reliable and efficient CRO team so that you get the desired results with the fastest possible turnaround time.

The necessary resources are already in place

The biggest advantage of partnering with a Contract Research Organization is that they already have a robust team that is ready to come onboard. They have all the necessary resources in place, be it the team for data collection and management, trial candidates, scientists and so on.

As a result, you can get on-demand services, where you do not have to end up waiting for months or probably more than a year just for the team to get set up. This saves both time and money for you.

They help you with their global reach

When you plan to market your drug in a new country, it is mandatory to conduct a clinical research study in that country before making any moves. Now, this can be a costly affair for any sponsor but partnering with a CRO with a global reach helps the cause significantly because they have facilities and teams located in different parts of the world.

As a result, you get immediate access to a global audience without having to spend a large amount of money to set up a team from scratch.

Cons

Dealing with consequences because of the lapse from CRO

As mentioned above, delegating all the duties to a CRO is a great benefit but it can also act as a major bane, if you do not partner with the right CRO. You cannot have any assurance that the trials will be completed on time or you will get the results with no flaws. One should not forget that, at the end of the day, it is the sponsor who has to deal with the consequences even if the CRO falters with their work.

Therefore, you can choose to partner with a renowned company like Jubilant Biosys that provides comprehensive drug discovery services to global industries through its locations across India and the USA.

Difficulty in communication at times

As sponsors, you would not be able to oversee everything that goes in a trial and that is exactly why you hire a CRO team at the first place. However, the downside to this is that there can be a lack of communication between you two and it becomes even more of an issue when the trial is on a large scale with hundreds and thousands of people involved in it.

Requires multiple audits

A Contract Research Organization deals with multiple clinical trials and as a result, can end up juggling their resources from one project to another based on the requirement. As a sponsor, you might have to do multiple audits during the timer period of a trial to ensure that your project is not jeopardized due to such activities.

Essentially, this is more of a “must-haves” than a con because performing such audits will ensure that you get the desired results.

Final Thoughts

When parenting with a CRO, the cons need not be a huge problem if you work with an efficient and trust-worthy Contract Research Organization in India like Jubilant Biosys, that offer flexible business models and quality solutions incorporated with the best practices. Hence, you should make sure that you make the decision on that front.

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STEP BY STEP GUIDE FOR MILLENNIALS TO BUY FIRST RENTAL PROPERTY From Ligon Brothers

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Ligon Brothers

As a millennial, have you ever thought about investing in rental property but don’t have a clue from where to take a start? If the answer to this question is yes, then don’t worry the Ligon Brothers will guide you to buy your first rental property. The Ligon Brothers, Michael, and David Ligon are seasoned Real Estate Investors and own one of South Florida’s most profitable real estate investment firms.

The Ligon Brothers provide a step by step guide for millennials to buy their first rental property. This guide is about how to prepare and save up for the first rental investment.

The first step is to establish your spending and saving habits. If you want to become a rental investor, you should know how to manage your money. If you embody a frugal lifestyle, it will be easy for you to afford your first rental property. Take a start by tracking your budget, and watching your spending.

The next step is to discuss your investment ideas with your family/spouse. To discuss rental investing, start by having budgeting meetings with your partner. You should teach your children and family members about money and spending. You can also discuss your retirement goals with your partner.

Once you decide to invest, the next step is to understand your current financial situation. It is crucial to know about your net worth so that you can plan accordingly. If you do it right, you will be able to watch your spending, learn about your cash flow, and prepare for your financial journey.

The fourth step is to get rid of your debt first. You should consider how much debt will be added when you begin investing in rental properties. If you already have debts to pay, you can minimize future stress by paying off your small debts. To reduce debt, you can use either a debt snowball method or the debt avalanche method.

The next step is to tackle your student loans. As a millennial, you may have student loans to pay. Before investing in rental properties, you should establish a plan to get rid of your student loans. If you plan well, you can even pay off your loans from rental properties.

The sixth step is to understand the market. You should learn important topics about rental investing. To learn about rental investing start attending open houses. You can also find a realtor in the open houses. Once you learn about rental investing, you will look at a home-like an inspector.

Ligon Brothers

The last step is to research and learn to become a successful rental investor. Learning will increase your chances to buy perfect properties, make good financial decisions, and build your wealth. You can educate yourself through books, podcasts, and taking courses.

The above-mentioned guide by the Ligon Brothers is a pathway for millennials to start rental investment. A millennial must follow these steps to succeed in becoming a successful rental investor.

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BUSINESS

Top 5 Benefits of Digital Advertising for Small Businesses

Umar Nisar

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Top 5 Benefits of Digital Advertising for Small Businesses

Digital campaigns can be a boon if you want to boost up your visibility and drive sales of your brand. There’s a large number of audience online that small businesses can tap into. For that, your need to align your online marketing campaign with your goals.

All the small businesses start with a single goal in the mind, i.e. growth. To make more and more people aware of their brand and increase their sales. And with the right online advertising strategy, you can set your business to a completely new level of growth.

In this article, we will look at the top 5 benefits of digital advertising for small businesses that include these campaigns in their marketing strategy.

1. Cost-effective

Digital advertising is really cost-effective, especially when compared to its alternate counterpart, traditional or offline advertising. For small businesses, budget is a big factor when it comes to marketing their products or services. Since they are on a limited budget, they need to be more careful about where they are going to spend their money.

Hire a professional graphic designer if you want your ads to look cool and branded. If you want to go on an extra mile, you should consider hiring Dignitas Digital, a full-service digital agency in Philadelphia, to help you with your digital advertising campaigns.

2. Highly Targeted

With digital advertising, you will have absolute control over who sees your ads as well as where you are spending your money. Since they are highly targeted, you can make sure that your ads are seen by only interested people.

With keywords that are relevant to your specific services, you can target users within a certain age group to buy your products or services. You can go further by adding more specifications, such as location, interest, etc. With digital advertising, you will have more power to turn your target audience into potential customers.

3. Easy Tracking

Digital advertising is easy to layout and track. If you want to gain insights about your ad campaigns, you can do that easily by going through your digital ad campaign. You can easily measure all the key aspects of your ad campaign by going through the analytics.

For example, if you want to measure the success rate of your email newsletters, you can track how many of the people, who are receiving the newsletters, are actually opening it and taking action based on that.

4. Fast and Effective

One of the key advantages of digital advertising is that they offer fast and effective results, which cannot be said about its counterpart, traditional advertising. It requires much less turnaround time to plan and execute digital campaigns than the traditional ones.

Apart from that, going digital gives you the option to make changes in your campaign quickly whenever you need it. For small businesses and companies, time is an important commodity and having the power to save it gives opportunities to get good ROI.

5. Easy to Update

Since digital advertising is easy to keep track of, they are also easy to update. Whether you need to make any major or minor changes, you will have the flexibility to make it happen easily. With traditional ad campaigns, you cannot make such advancements.

Suppose you want to make changes in your ad copy the next day you publish it. You can update your copy by just going through your ad platform. While, in traditional copies, you will need to double or triple check your copy before you publish it since you cannot make quick changes afterward.

Final Thoughts

Digital advertising has plenty of benefits over its traditional counterparts. But there’s no secret formula for digital marketing campaign that works right every time. Having the experience, insights, and vision laid out in the right strategy can surely pay off in digital advertising for small businesses.

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BUSINESS

How MSPs Can Assist Clients During COVID-19

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MSPs Assist Clients During COVID-19

MSPs Can Assist Clients During COVID-19

COVID-19 helps to create confusion everywhere in the world. Controlled MSPs are frustrated by the long list of tasks they need to do to maintain their company and industry running properly with their customers.

In a matter of a few seconds, the situation has transformed but there is positive news. MSPs are in a rare role to be seen as an integral part of the activities of their customers.

During these moments it is not just your customers that you should please. While some businesses fail to adapt to the modern standard, others thrive. If the MSP represents one of those vertical markets, you now have an opportunity to double and convince other businesses that the company has what it takes to keep them going regardless of what the world is tossing at them.

There are just some few things to keep a note on in order to be able to outlast the MSP to survive the COVID-19 pandemic to the financial recession.

Rapid Processing Times

Where a current or future client needs emergency IT assistance, MSPs need to be able to answer the call. Because of a branch closure, when a former customer reached out to MSPs that needed on-site IT support to decommission equipment, MSPs have been able to continue providing two techs the very following day. Most consumers are looking for this form of versatility right now because their needs are continuously evolving.

Maintain Cash Flow

Many of the companies are fortunate enough to have a distributed workforce to start operations. Some were forced to significantly limit or close down activities entirely. This is a special type of obstacle. Another that as an MSP user holds you awake at night. Your income streams are increasingly drying up, and you need to have a better look at your accounting and cash flow control.

Forego Long-Term Contracts

Potential consumers may need to help but don’t want to be tied into a long-term deal or investment. Likewise, current consumers can only need to connect to the offerings for the duration of the COVID-19 crisis. Without long-term contracts, MSPs are here to offer IT assistance and provide clients the tools they need – where they need them – and support their company going forward.

Making Interaction Better

During these pandemic MSPs will concentrate on the consumer experience. Be compassionate and empathic with challenges that customers encounter, and let any conversation get them closer to their IT goals and have a positive effect on their market.

Professional Services

Although we have a growing number of employees out of work as a result of COVID-19, many businesses do operate and continue to position talent in a wide variety of positions, like IT.

Keep spending time in talent interviews and nominating customer candidates. Providing a combination of work, work-to-hire, and direct recruitment services would make sure that during that period they can find the best IT solution for their needs.

Managing Remote Workforce

To MSPs and their customers, one of the greatest shifts has been the transition to remote work. Upon the drop of a hat, government lockdowns and social distancing compelled companies to turn to dispersed workers. You remember, as an MSP, that’s put a burden on the staff and activities.

In the weeks or months just before the epidemic, a couple of the customers may have been trying remote work out. For everything moving all at once, you need to double your capacity from everywhere to benefit your clients and your own labor force. So it looks like this worldwide home project research will in the future lead to a continuing rise in more distant research.

Conclusion

COVID-19 continues to generate chaos everywhere in the world. Managed service providers feel overwhelmed by the amount of effort they need to maintain their company running properly, and by the companies of their customers.

There is positive news because certain things have improved. Customers will now more than ever rely on technology to keep their company going. Using technology would allow them to simultaneous activities while retaining productivity and reduce costs.

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