Everest Group PEAK Matrix® for Life Sciences Operations Service Providers 2021

Focus on ZS July 2021

EGR-2021-54-E-4458 Everest Group PEAK Matrix® for Life Sciences Operations Service Providers 2021 Background of the research

The life sciences industry has been severely impacted by the COVID-19 pandemic, with hundreds of clinical trials halted and most ongoing trials disrupted in one way or the other. In the wake of this disruption, enterprises are increasingly investing in digital technologies to adapt to the evolving drug development model (such as increasing adoption of virtual or/and hybrid trials) and looking at various approaches to reduce costs, minimize operational disruptions, and enhance overall efficiencies. Service providers are helping enterprises embrace the paradigm shift by delivering services and solutions across the life sciences operations value chain. From offering cost-effective pharmacovigilance services and technology-driven commercial operations, to supporting enterprises on domain-intensive clinical trial operations, service providers are partnering with biopharmas and medical device manufacturers to manage their evolving priorities and growing business needs. In this research, we present an assessment and detailed profiles of 31 life sciences BPS service providers featured on the life sciences operations – services PEAK Matrix®. Each service provider profile provides a comprehensive picture of its service focus, core capabilities, key Intellectual Property (IP) / technology solutions, domain investments, and case studies. The assessment is based on Everest Group’s annual RFI process for calendar year 2020-2021, interactions with leading life sciences BPS services providers, client reference checks, and an ongoing analysis of the life sciences BPS market.

Scope of this report: Geography Service providers Services Global Accenture, APCER Life Sciences, Ashfield, Life sciences operations Atos, Axtria, Bioclinica, Cognizant, Conduent, Covance, DXC Technology, Ergomed plc, Freyr, Genpact, HCL Technologies, ICON plc, Indegene, IQVIA, Lash Group, Medpace, Navitas Life Sciences, Parexel, PharmaLex, PPD, PRA Health Sciences, ProPharma Group, Syneos Health, TCS, Tech Mahindra, Wipro, WNS, ZS

Proprietary & Confidential. © 2021, Everest Global, Inc. | EGR-2021-54-E-4458 2 Everest Group PEAK Matrix® for Life Sciences Operations Service Providers 2021 Everest Group Life Sciences Operations – Services PEAK Matrix® characteristics

Everest Group classified 31 life sciences BPS providers on the Everest Group PEAK Matrix® into the three categories of Leaders, Major Contenders, and Aspirants.

Leaders: There are nine service providers in the Leaders category – Accenture, Cognizant, Covance, Genpact, IQVIA, PRA Health Sciences, TCS, Wipro, and ZS

Major Contenders: The Major Contenders category has 16 service providers – Ashfield, Atos, Axtria, Conduent, DXC Technology, Ergomed plc, HCL Technologies, ICON plc, Indegene, Medpace, Navitas Life Sciences, Parexel, PPD, Syneos Health, Tech Mahindra, and WNS

Aspirants: APCER Life Sciences, Bioclinica, Freyr, Lash Group, PharmaLex, and ProPharma Group are Aspirants on the PEAK Matrix®

Everest Group conferred the Star Performers title on providers that demonstrated the strongest forward and upward movement on the PEAK Matrix®. Axtria and Wipro are Star Performers on the LS operations Everest Group PEAK Matrix® for 2021

Proprietary & Confidential. © 2021, Everest Global, Inc. | EGR-2021-54-E-4458 3 Everest Group PEAK Matrix® for Life Sciences Operations Service Providers 2021 Everest Group PEAK Matrix® Life Sciences Operations – Services PEAK Matrix® Assessment 2021 | ZS positioned as Leader

Everest Group Life Sciences Operations – Services PEAK Matrix® Assessment 20211,2

High Leaders Cognizant Leaders IQVIA Major Contenders HCL Technologies PRA Health Major Contenders Syneos Health Sciences Accenture Aspirants Genpact TCS Covance ZS Star Performers Parexel Wipro ICON plc PPD Axtria Ergomed plc Atos Indegene

Medpace WNS DXC Technology Ashfield

Market impact Market Navitas Life Sciences

APCER Life Sciences Bioclinica Freyr Lash Group PharmaLex Conduent

(Measures impact created impact in(Measures the market) ProPharma Group Tech Mahindra

Low Aspirants Low High Vision & capability (Measures ability to deliver services successfully) 1 Assessment for Accenture, APCER Life Sciences, Ashfield, Bioclinica, Covance, Ergomed plc, Freyr, ICON plc, IQVIA, Lash Group, Medpace, Navitas Life Sciences, Parexel, PharmaLex, PPD, ProPharma Group, and Syneos Health excludes service provider inputs and is based on Everest Group’s proprietary Transaction Intelligence (TI) database, service provider public disclosures, and Everest Group’s interactions with buyers 2 Analysis for PRA Health Sciences and PPD is based on capabilities before its acquisition by ICON plc and Thermo Fisher Scientific respectively; Tech Mahindra’s acquisition of Ireland-based Perigord Life Science Solutions is not included in the analysis Source: Everest Group (2021)

ZS | LS operations profile (page 1 of 6) Overview

Company mission/vision statement Life sciences operations 20181 20191 20202 ZS is a professional services firm that works side by side with companies to help develop and deliver Revenue (US$ million) Not disclosed Not disclosed Not disclosed products that drive customer value and company results. ZS leverages deep industry expertise, leading-edge analytics, technology, and strategy to create solutions that work in the real world. ZS has Number of FTEs Not disclosed Not disclosed Not disclosed more than 35 years of experience and 8,000+ professionals in more than 25 offices worldwide. Number of clients Not disclosed Not disclosed Not disclosed ZS offers end-to-end digital transformation solutions by designing and implementing digital strategy, operations, and technology for commercial and R&D functions in the life sciences industry. The Recent acquisitions and partnerships company brings together data, advanced analytics/AI, digital platforms, innovative digital solutions,  2017-2020: invested in AffinityMonitor™ for the past four years, a syndicated data offering that collects industry technology road map design, and large-scale change management to deliver this experience. engagement metrics from more than 865,000 Health Care Providers (HCPs) to calculate advanced metrics that help life sciences teams understand how to best reach the HCPs at their target companies Key leaders Headquarters: Evanston, Illinois,  2017-2020: invested in partnerships with Salesforce as an Independent Software Vendor (ISV) and consulting  Maria Whitman, Principal, Global Pharmaceuticals Lead the United States partner, Qlik as a System Integrator (SI) partner, Microsoft as a Partner Network member, Tableau as an OEM, alliance, and SI partner, and other technology partners to develop accelerators to optimize products and services  Aaron Mitchell, Principal, Global R&D Excellence Lead Website: www.zs.com  2019: invested in in-house scientific solutions leveraging AI/ML to accelerate target, lead, and biomarker  Mike Martin, Principal, Clinical Development Lead identification as well as patient stratification and other aspects of experiment design and execution  Anshul Agarwal, Principal, Supply Chain & Manufacturing Lead  2018: acquired BASES Pharmaceutical Forecasting, to provide forecasting tools/methodologies and proprietary normative database to pharma clients, thereby enhancing forecasting and benchmarking studies. The new assets Suite of services and expertise help clients prepare for a product launch by bridging long-term strategic and in-line forecasting with  Strategy and advisory an approach that is designed to help clients during critical moments of product life cycle  Digital & analytics  Drug discovery, research, and pre-clinical trials Recent developments  Clinical trials – includes trial optimization, quality risk monitoring, and RWE services  2020: enhanced Clinical Data Management, a data repository offering that leverages best-in-class technologies to  Manufacturing, supply chain, and distribution – Includes supply chain health diagnostics, supply architect and build Clinical Data Repositories (CDRs) that support clinical and operational analytics along with chain model design, inventory optimization, and supply chain performance reporting services repurposing clinical data  Marketing and sales – includes physician engagement, patient journey, and HEOR services  2019: launched Applied Behavioral Insights (ABI) solution, a data-driven approach that leverages a proprietary  Pharmacovigilance methodology to help clients identify and apply hidden cognitive biases to their sales and marketing programs,  Regulatory and medical affairs – includes global evidence planning and MSL design and support thereby enhancing sales and marketing communications  launched Clinical Trial Control Center for monitoring the clinical trial portfolio at multiple levels  Biomedical research and medical strategy 2019: (global/region, asset/portfolio) and initiated quality and risk management offering to develop risk management 1 Calendar year for 20XX i.e., from January 20XX to December 20XX plans and monitor risks at multiple levels 2 YTD for 2020, i.e., from January 2020 to September 30, 2020

ZS | LS operations profile (page 2 of 6) Key delivery locations

Cambridge

London Frankfurt Boston Seattle Toronto Paris Zurich New York Evanston Milan Chicago Princeton Philadelphia Barcelona Los Angeles Washington DC Tokyo San Diego San Francisco Delhi Shanghai

Pune

Bangalore

Singapore

Sao Paulo

Buenos Aires

Note: This is not an exhaustive list of delivery locations

ZS | LS operations profile (page 3 of 6) Capabilities and key clients

Key life sciences operations engagements Client name Processes served Region Client since A clinical-stage pharmaceutical company Manufacturing, marketing and sales, supply chain and distribution, and regulatory compliance support EU, France, Japan, and US 2017

An American biopharmaceutical company Drug discovery, research, and pre-clinical trials, manufacturing, marketing and sales, supply chain and Canada, EU, France, Germany, Italy, Spain, UK 2013 distribution, and regulatory compliance support and US

A pharmaceutical company Drug discovery, research, and pre-clinical trials, clinical trials, manufacturing, marketing and sales, North America, Europe, UK, China, and Japan 2012 supply chain and distribution, and regulatory compliance support

One of the world's largest pharmaceutical companies Drug discovery, research, and pre-clinical trials, manufacturing, marketing and sales, supply chain and Australia, Canada, Europe, India, Japan, 2010 distribution, and regulatory compliance support Singapore, North America, and South America

Life sciences operations FTE mix by segment Life sciences operations revenue mix by geography Life sciences operations FTE split by delivery location Life sciences operations clients by buyer size1 Number of FTEs Revenue in US$ million Number of FTEs Number of active clients 100% = Not disclosed 100% = Not disclosed 100% = Not disclosed Regulatory & medical Clinical trials affairs (<5%) Nearshore (<2%) Medium (5-10%) (3-8%) Onshore Large (5-10%) (30-35%) Manufacturing, Not disclosed Very large supply chain, & (5-10%) distribution Small (5-10%) (12-17%) Mega (70-75%)

Offshore (65-70%) Marketing and sales (77-82%)

1 Buyer size is defined as mega (>US$20 billion), very large (US$10-20 billion), large (US$5-10 billion in revenue), medium (US$1-5 billion in revenue), and small (

ZS | LS operations profile (page 4 of 6) Technology solutions/tools

Application Processes served Year launched Description No. of BPS clients

CDR-SCE capabilities Drug discovery, research, and 2020 This ZS asset class includes multiple platform components to address integration, monitoring, transformation, 3 pre-clinical trials, clinical trial, analysis, and reporting of clinical trial data from investigator sites, third parties, and subjects. Implemented as regulatory compliance support, AWS-based foundational platform, these solutions can deliver automation and machine-learning powered and pharmacovigilance modules for anomaly detection, data mapping and transformation, and query optimization.

Clinical Design Center Pre-clinical trials, clinical trial, 2019 Clinical Design Center is a suite of applications in a virtual environment that allows cross-functional teams to 16 and regulatory compliance work together on the design, feasibility, and monitoring of clinical trials powered by AI to accelerate global support study planning and execution by at least 30-40%.

Medical Affairs Assets Clinical trials and 2017 Accelerators across engagement planning, inquiry management, medical communication to empower various 20 pharmacovigilance leadership and teams across medical affairs with relevant, timely, and compliant insights and information through various reporting and analytics solutions. These accelerators provide easy-to-use interfaces embedded with an objective to optimize and enhance the over all customer experience.

Trial Launch Catalyst (TLC)™ Clinical trials 2017 Solutions to accelerate clinical trials by improving patient and trial site engagement, resulting in improved 8 engagement and faster execution.

REVO™ Drug discovery, research, and 2016 REVO is a global cloud-based integrated analytics product that covers all aspects of analytics from data 167 pre-clinical trials, management to dashboarding to advanced analytics using AI/ML, analytic accelerators, and embedded Includes REVO™ Medical Affairs, manufacturing, marketing and packaged analytics. REVO supports functional areas from R&D to commercial, helping business users, REVO™ Evidence, and other sales, supply chain and business analysts, data scientists, data engineers, and roles in between to solve for specific use cases by solutions. distribution, pharmacovigilance geography and preferences, considerably speeding up and automating analytics delivery for clients. and regulatory compliance support One capability within REVO is REVO Medical Affairs, which helps medical affairs teams and medical science liaisons to design and manage their medical affairs objectives and needs, delivers first-hand information about customers’ perceptions and gaps between brand objectives and the market, and offers the ability to manage a consistent feedback loop.

ZS | LS operations profile (page 5 of 6) Technology solutions/tools

Application Processes served Year launched Description No. of BPS clients

VERSO™ Marketing and sales 2015 (re-branded VERSO helps your business bridge the gap between strategic planning and commercial execution by 12 in 2018) optimizing efforts across customer, channel, content, and cadence to deliver personalized, omnichannel experiences to healthcare professionals. The intelligent execution software combines leading technologies with ZS’ deep domain expertise to dramatically improve HCP engagement: – Enable omnichannel engagement by feeding insights and next-best actions into field and marketing automation tools – Personalize and sequence customer journeys based on preferences and affinity – Reach the right HCPs with the right messages via field suggestions and dynamic targeting

Javelin® Marketing and sales 2005 A sales performance management product that simplifies resource planning and deployment as well as 129 incentive compensation. The product helps life sciences companies automate the planning process and To be re-launched in 2021 motivate a successful sales force. The product supports all aspects of sales planning: salesforce sizing, structure and role mix, territory design, roster management, and call plan management. It also supports incentive design, payout calculation, and reporting for a variety of plans

ZS | LS operations profile (page 6 of 6) Everest Group assessment – Leader

Measure of capability: Low High

Market impact Vision & capability Scope of services Innovation and Market adoption Portfolio mix Value delivered Overall Vision and strategy offered investments Delivery footprint Overall

Strengths Limitations

 ZS’ consulting, platform, and services-led approach to transform sales and marketing operations  Enterprises looking for cost-effective third-party service providers need to evaluate its pricing (including salesforce effectiveness, marketing effectiveness, territories mapping, and demand robustly. Some of the referenced clients of ZS have highlighted that it could be more flexible in forecasting) have helped it establish a strong presence across enterprises terms of price competitiveness  Driven by data and analytics, its sales field insights and orchestration platform – VERSO – has  While it has extensive experience in serving enterprises based in the US, its revenue base in strong use cases in increasing customer engagement and sales effectiveness. Further, client Europe is relatively small adoption of its sales performance management platform – Javelin – is very high  It has a strategic focus on other functions of the LS operations value chain and is significantly investing across R&D, Real-World Evidence (RWE), clinical trials, and supply chain operations  Access to ecosystem of datasets including clinical trial sponsors data and public clinical dataset backed by strong data analytics capabilities is a strong value proposition for ZS in real-world evidence data space. Further, its Clinical Design Center solution is also helping its clients speed up clinical trial program planning and execution  Buyers appreciate its strong domain expertise, technology offerings, and ability to meet defined objectives. Further, they highlighted that the service provider was proactive in managing COVID- 19 business operations disruption and responded very well to the crisis

11 Everest Group PEAK Matrix® for Life Sciences Operations Service Providers 2021 Everest Group PEAK Matrix® is a proprietary framework for assessment of market impact and vision & capability

Everest Group PEAK Matrix

High

Leaders

Major Contenders Market impact Market Aspirants Measures impact created impact inMeasures the market) (

Low Low High Vision & capability (Measures ability to deliver services successfully)

Proprietary & Confidential. © 2021, Everest Global, Inc. | EGR-2021-54-E-4458 12 Everest Group PEAK Matrix® for Life Sciences Operations Service Providers 2021 Services PEAK Matrix® evaluation dimensions

Measures impact created in the market – captured through three subdimensions

Market adoption Leaders Number of clients, revenue base, YOY growth, and deal value/volume Major Contenders

Portfolio mix Diversity of client/revenue base across geographies and type of engagements Market impact Market Aspirants Value delivered Value delivered to the client based on customer feedback and transformational impact Vision & capability

Measures ability to deliver services successfully. This is captured through four subdimensions

Vision and strategy Scope of services offered Innovation and investments Delivery footprint Vision for the client and itself; future Depth and breadth of services portfolio Innovation and investment in the enabling Delivery footprint and global sourcing mix roadmap and strategy across service subsegments/processes areas, e.g., technology IP, industry/domain knowledge, innovative commercial constructs, alliances, M&A, etc.

Proprietary & Confidential. © 2021, Everest Global, Inc. | EGR-2021-54-E-4458 13 Everest Group PEAK Matrix® for Life Sciences Operations Service Providers 2021 Everest Group confers the Star Performers title on providers that demonstrate the most improvement over time on the PEAK Matrix®

Methodology Everest Group selects Star Performers based on the relative YOY improvement on the PEAK Matrix

Year 1 In order to assess advances on market impact, we evaluate each service provider’s performance across a number of parameters including: Year 0  Yearly ACV/YOY revenue growth  # of new contract signings and extensions  Value of new contract signings  Market impact Market Improvement in portfolio mix  Improvement in value delivered

Vision & capability

In order to assess advances on vision and capability, We identify the service providers whose improvement ranks we evaluate each service provider’s performance across in the top quartile and award the Star Performer rating to a number of parameters including: those service providers with:  Innovation  The maximum number of top-quartile performance  Increase in scope of services offered improvements across all of the above parameters  Expansion of delivery footprint AND  Technology/domain specific investments  At least one area of top-quartile improvement performance in both market success and capability advancement

The Star Performers title relates to YOY performance for a given vendor and does not reflect the overall market leadership position, which is identified as Leader, Major Contender, or Aspirant.

Does the PEAK Matrix® assessment incorporate any subjective criteria? Everest Group’s PEAK Matrix assessment adopts an unbiased and fact-based approach (leveraging service provider / technology vendor RFIs and Everest Group’s proprietary databases containing providers’ deals and operational capability information). In addition, these results are validated / fine-tuned based on our market experience, buyer interaction, and provider/vendor briefings

Is being a “Major Contender” or “Aspirant” on the PEAK Matrix, an unfavorable outcome? No. The PEAK Matrix highlights and positions only the best-in-class service providers / technology vendors in a particular space. There are a number of providers from the broader universe that are assessed and do not make it to the PEAK Matrix at all. Therefore, being represented on the PEAK Matrix is itself a favorable recognition

What other aspects of PEAK Matrix assessment are relevant to buyers and providers besides the “PEAK Matrix position”? A PEAK Matrix position is only one aspect of Everest Group’s overall assessment. In addition to assigning a “Leader”, “Major Contender,” or “Aspirant” title, Everest Group highlights the distinctive capabilities and unique attributes of all the PEAK Matrix providers assessed in its report. The detailed metric-level assessment and associated commentary is helpful for buyers in selecting particular providers/vendors for their specific requirements. It also helps providers/vendors showcase their strengths in specific areas

What are the incentives for buyers and providers to participate/provide input to PEAK Matrix research?  Participation incentives for buyers include a summary of key findings from the PEAK Matrix assessment  Participation incentives for providers/vendors include adequate representation and recognition of their capabilities/success in the market place, and a copy of their own “profile” that is published by Everest Group as part of the “compendium of PEAK Matrix providers” profiles

What is the process for a service provider / technology vendor to leverage their PEAK Matrix positioning and/or “Star Performer” status ?  Providers/vendors can use their PEAK Matrix positioning or “Star Performer” rating in multiple ways including: – Issue a press release declaring their positioning. See citation policies – Customized PEAK Matrix profile for circulation (with clients, prospects, etc.) – Quotes from Everest Group analysts could be disseminated to the media – Leverage PEAK Matrix branding across communications (e-mail signatures, marketing brochures, credential packs, client presentations, etc.)  The provider must obtain the requisite licensing and distribution rights for the above activities through an agreement with the designated POC at Everest Group.

Does the PEAK Matrix evaluation criteria change over a period of time? PEAK Matrix assessments are designed to serve present and future needs of the enterprises. Given the dynamic nature of the global services market and rampant disruption, the assessment criteria are realigned as and when needed to reflect the current market reality as well as serve the future expectations of enterprises

Everest Group is a research firm focused on strategic IT, business services, engineering services, and sourcing. Our clients include leading global companies, service providers, and investors. Clients use our services to guide their journeys to achieve heightened operational and financial performance, accelerated value delivery, and high-impact business outcomes. Details and in-depth content are available at www.everestgrp.com.

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