What is an FSP?

FSP stands for Functional Service Provider. FSPs are organizations that provide specialized services to companies, often in the pharmaceutical, biotechnology, or clinical research industries. Instead of outsourcing entire projects, companies hire FSPs to manage specific functions, such as data management, clinical monitoring, or regulatory affairs. This model allows for greater flexibility, cost efficiency, and access to specialized expertise. FSPs work closely with their clients to integrate seamlessly with in-house teams and processes.