Informatica, an enterprise cloud data management leader, 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. Acting as a catalyst, Pharmarack empowers general pharmaceutical trade with a national reach of more than 250,000 chemists and druggists and over 12,000 distributors and stockists trading in more than 300,000 SKUs across six thousand brands. 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.
Resolving data catalog inconsistency and achieving a single golden record when trying to merge more than 12,000 unique independent catalogs is a significant challenge if done manually. With Informatica's intelligent MDM, Pharmarack aims to tackle this problem for an entire industry offering small and medium businesses in India with catalog quality comparable to that of giant e-commerce players. This solution could be used by more than a million chemists and stockists, enabling them to harness the potential of digital technology without concerns about catalog consistency. This is expected to significantly improve the availability of medicines, reduce expiry and enhance efficiency in the Indian pharmaceutical value chain.
"Informatica is pleased to work with Pharmarack in addressing their catalog challenges by providing our market-leading intelligent MDM solution powered by our metadata AI-driven IDMC platform, to resolve issues related to inconsistent, incomplete and inaccurate data, while enabling a 360-degree view of trusted data for users to perform their tasks more effectively," said Steven Seah, Informatica Managing Director, ASEAN, India, and Korea. "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."
