SAN FRANCISCO, Oct. 15 /PRNewswire/ -- SourceSolution, a leader in search technology for the biotechnology and pharmaceutical industries, announced today that it is on target to launch a new initiative next month, which reduces the time and cost of screening contract manufacturing and research organizations (CMOs/CROs). The proprietary technology will be offered to customers as a Software as a Service (SaaS) database. The database will allow users to perform detailed searches of service provider capabilities against customizable project requirements.

The web-based platform will simplify the initial screening process for both buyers and service providers. Currently, biotechnology and pharmaceutical companies have limited tools at their disposal to efficiently evaluate CMO/CRO capabilities. Limited tools force many of these companies to engage in a cumbersome and time-consuming exchange of data in RFIs or RFPs. SourceSolution users may select standardized capability and regulatory criteria in searches for contract providers. CMOs and CROs will update and maintain these profiles to ensure that all potential clients are accessing information that is current and accurate. Effective initial screening will reduce expenses that would be incurred when there is an incomplete understanding of project requirements and capabilities for both parties. Once a buyer identifies a number of CMOs/CROs for further evaluation, the service providers will be notified that their capabilities have matched with potential projects and will be provided with a qualified sales lead for follow-up.

The initiative will be launched in November prior to the American Association of Pharmaceutical Scientists (AAPS) annual meeting in Atlanta, Georgia. As part of the launch, SourceSolution will be offering a number of free webinars in October and November. More information can be found by visiting http://www.sourcesolution.com/webinar/overview.html.

"SourceSolution is excited to present what we believe will be a powerful tool for the biotechnology and pharmaceutical industries as well for contract service providers. We understand that the purchase decisions for outsourced product development activities are complex and through this initiative, we hope to streamline this process," stated Premila Anand, Founder and CEO of SourceSolution.

About SourceSolution, Inc.

SourceSolution, Inc. is committed to simplifying initial outsourcing decisions for biotech and pharmaceutical companies. The company is uniquely positioned as the largest global directory of Contract Research and Contract Manufacturing Organizations (CROs and CMOs) that offer regulatory-driven, product development services. SourceSolution allows users to screen potential service providers based on criteria including technical capabilities, regulatory compliance, facilities, equipment, company information, and user ratings by service line. SourceSolution's streamlined format allows for a cost-effective unbiased evaluation of potential suppliers. Visit http://www.sourcesolution.com for more information.

SOURCE SourceSolution, Inc.