VIDEO | Sorcero CEO: We Are Inspired by the Possibility of Improving Patient Outcomes

(US and Canada) Dipanwita Das, Co-founder, CEO and Chair of Sorcero, speaks with Marc Johnson, Founder of TeamCentral, in a video interview about Sorcero’s solutions in the life sciences space, business opportunities, challenges, the product roadmap, and the company’s evolution.

Sorcero is a medical analytics platform for life sciences products, serving tier one and tier two pharma companies. Their biggest pain point for solutions is the mandate to collect and distribute scientific information regarding product usage, dosage, etc.

As Das explains, manual processes are prone to missing data, delayed actions, and lost opportunities, resulting in worse patient outcomes. Sorcero’s products help customers monitor, analyze, and communicate data regarding the usage, safety, efficacy, problems, or gaps in evidence for their products to physicians, market access teams, clinical teams, and regulators.

She explains that the content is voluminous and technically complex for traditional data analysis methodology. The big opportunity here is using cognitive tech, large language models, and AI to make it analyzable. Das adds that the organization is heavily inspired by the opportunity or possibility to improve and impact patient outcomes.

Speaking about the critical factors driving success, Das mentions the following:

• Assumptions regarding the infrastructure required for data ingestion, unification, and utilization of AI.
• Talking to about 300 customers or prospects before taking anything to the market.
• Deciding to go vertical SaaS in 2021.
• The team.

Das also mentions the challenges brought about by the pandemic, hiring the right talent, and investing in product building ahead of repeatable sales. She adds that the organization has defined processes, brought in experts, and now has disciplined, clean, and focused operations. Das says that if the customer is happy, nothing else means as much.

Continuing, Das speaks about Sorcero’s product roadmap and notes that it is fixed on its two main products for six to eight months. Adjacency-based expansion is possible between 6 and 12 months, vertical expansion between the 12th and 18th month, and an entirely new market is finally possible during the 18th to 24th month.

Discussing customer implementation, Das mentions that the period varies for both products. While Intelligent Publication Monitoring requires about two weeks, Medical Insights Management requires under 60 days.

Sharing advice for early-stage enterprise SaaS startups, Das highlights the following steps:

• Understand the specificity of an enterprise workflow and the difference between B2B and enterprise SaaS
• Have representation from the industry in the commercial organization.
• Ensure that future leaders have been at this stage in their previous roles.
• Watch the financial model closely.

In conclusion, Das says the med and scientific affairs space — particularly pharma — is changing; it’s not just digital transformation only. It’s about how they market, sell, retain, and expand their market share.

Despite this industry's heavily manual and consultant-driven nature, Das expects software to play a major role, pointing out that solutions must integrate with existing systems.

CDO Magazine appreciates Dipanwita Das for sharing her insights and data success stories with our global community.