NextDocs--5 emerging eClinical firms to watch

NextDocs--SharePoint-based software for life science document management   

Life sciences companies accumulate tons of documents in the process of discovering, developing and (eventually) marketing products. NextDocs of King of Prussia, PA, is a rapidly growing provider of Microsoft SharePoint-based software for drug and device developers to manage their documents.

What makes NextDocs stand out? The closely held company has helped address a point of pain for life sciences firms and enjoyed more than 200 percent annual growth every year since its founding in 2006. Some companies have invested heavily in internally developed and legacy software for document management, requiring high costs to run those systems and placing large expense and time burdens on them when those systems need to be reconfigured to improve workflows or integrate data from different groups. Built on SharePoint, NextDoc's system can be quickly deployed and scale easily, according to the company.

Life sciences customers have taken notice. The firm says it has nearly 100 customers across the industry and garnered lots of recognition such as a No. 52 ranking on the Inc. 500 list of country's fastest growing private companies in 2010. Eat your heart out venture boys and girls, because NextDocs has managed to grow leaps and bounds without ever taking in outside capital. And while it's certainly not the first company to develop a SharePoint-based application for a specific industry, the firm says that it has 10 times more customers than its nearest SharePoint-based solution competitor in life sciences.

NextDocs says that it plans to take in between $10 million and $20 million in 2011 revenue. That sum might not blow you away, but consider that the firm has fewer than 100 employees and already has shown that its sales numbers move upward in a hurry. The company has a bright future if it can continue to ease the pain of life sciences outfits that are challenged to rethink the way they do business while keeping a sharp eye on how much money they spend on IT management and infrastructure.

NextDocs--5 emerging eClinical firms to watch

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