New Jersey, USA – Bangalore, India: Wipro and ComplianceQuest have announced a tie-up to jointly develop quality management solutions for the medical devices and life sciences industries.
It helps life sciences, medical devices and other manufacturers meet their quality, safety and compliance goals by connecting all relevant processes across the company and, externally with its global supply networks.
Under the partnership, Wipro and ComplianceQuest will develop joint solutions levering ComplianceQuest EQMS Product Platform and Wipro’s transformation services to provide end-to-end quality management support to customers.
The Wipro and ComplianceQuest tie-up will enable medical devices and pharmaceutical companies to remain compliant, handle their complaints effectively as well as comply with medical device reporting procedures and recall requirements.
With this tie-up, Wipro aims to expand its solutions and services portfolio for the medical devices and life sciences segments where quality management and compliance remain core to their business.
Going ahead, this partnership will enable Wipro to tap new opportunities with new or specialized IT services around Quality Management Software and Solutions offerings to boost-up falling IT services revenues.
Wipro’s IT Services segment revenue posted a 1.7% year on year (YoY) growth at $8,256.2 million in Q4, 2020 with a 4.2% rise in its gross revenue of $8.1 billion in the ended fiscal 2019-20.
The Quality Management Software market globally is expected to cross $13 billion mark by 2025, according to Zion Market Research.
In 2018, the Quality Management Software market was $7.18 billion and is expected to grow around $13.82 billion by 2025, at a CAGR of slightly above 9.8% between 2019 and 2025, states Zion Market Research report.
“Organisations committed to patient safety and regulatory compliance will benefit immensely from the combination of the ComplianceQuest solution portfolio and Wipro’s consulting and transformation expertise,” said Nagendra P. Bandaru, President – Cloud and IT Infrastructure Services (CIS) & Digital Operations & Platforms (DOP), Wipro.
“Together, we aim to help our clients evolve and transform their complaints and quality management operations to become simple, agile, more efficient, and truly digital,” added Bandaru.
“With this partnership, we can extend our software capabilities to bring sustained value to our customers through a combination of innovation in technology, process and resources,” said Prashanth Rajendran, CEO – ComplianceQuest.
“We intend to grow our joint offerings from Full Services Complaints Handling to digitally transforming quality and safety management operations globally,” added Rajendran.