Over the past few months, we’ve seen a tidal wave of layoffs, especially within the tech sector. While this constitutes less than 5% of the total labor market, recent layoffs have cast dark clouds over the entire economy.
Unfortunately, the eClinical segment is not immune – particularly within venture-backed tech companies that saw significant growth during the height of the pandemic but whose growth has slowed in recent months. Perhaps you and your team are running studies on their platforms right now and persistent rumors of further layoffs have you on edge.
This is an area where we’ve positioned ourselves as a strategic differentiator. Since our inception in 2010, CDS has been 100% privately owned and proud of the fact that we have been self-funded. While we’ve grown slower than some of our peers, we remain profitable and have never had to seek investment outside the company in order to drive operations or develop TrialKit. Despite the challenging conditions of this market, we continue to grow steadily and profitably. For CDS, customers and employees drive us forward and the following values are core to how we have always done business.
1. Customers come first
Our roadmap for TrialKit has always been, and will continue to be, shaped by client feedback. We believe our clients and product users have the greatest insights in making TrialKit even better. This helps to inform our development team and prioritize our product roadmap.
Because we have full autonomy to control all product development-related decisions without influence from outside investors who tend to focus on the bottom line, we ensure the direction we take TrialKit will be most beneficial for our clients and partners. CDS’ mission is to provide the technology tools researchers need to more affordably and efficiently deliver life-saving treatments to patients. We can best carry out this mission when client-centric development remains a focal point.
2. Decision-making remains internal
For the past 12 years, CDS’ self-funded business model has empowered us to maintain complete control over pivotal decisions, allowing us to grow with our customers while enabling them to leverage the latest in technology while keeping our pricing model affordable and our rate of growth manageable. In other words, we have unlimited flexibility in how we grow and what investments we make.
Software development is at the core of what we do and we’ve targeted our resources accordingly, investing deeply into the TrialKit platform. Further, we’ve chosen to devote 100% of our efforts to developing the best technology.
This is exemplified by CDS’ investment back in 2015 to enhance the TrialKit platform with a complementary, native mobile app that supports remote data entry from patients, site personnel, and investigators while enabling data collection directly from wearable devices and other data sources such as electronic health records (EHRs). The mobile app, which is integrated with the TrialKit platform, has allowed thousands of TrialKit users to leverage an already proven eClinical solution to support virtual/decentralized and hybrid trial designs.
Because we have full autonomy to control all product development-related decisions without influence from outside investors who tend to focus on the bottom line, we ensure the direction we take TrialKit will be most beneficial for our clients and partners.
3. Employees are vested
We’re not just self-funded, we’re employee-owned. With this structure, our team is dedicated to delivering unparalleled technology and motivated to work together to optimally serve our customers. Our team is vested, in many ways, to the success of our customers and each other.
How we choose to do business is key to our success and has empowered us to continuously expand while exploring a myriad of groundbreaking opportunities to serve our customers and their needs (think: first-to-market mobile app, EHR to EDC interoperability, and blockchain technology) – all while remaining resilient to the ups and downs we’ve seen over past few years. We’re excited to see what else the future has in store as we continue to grow. Want to chat with our team to see how we can assist you with your studies? Contact us today.