Benjamin Franklin seems like a man wise before his time or maybe it’s true that the more things change; there are some truths that will never change. Regardless, Ben Franklin’s quote succinctly describes the change that the life sciences industry is experiencing.
Life Sciences organizations are grappling with increasingly stringent regulatory requirements, pricing pressures and skyrocketing costs. To drive revenue, organizations are exploring ways to identify new indications for existing drugs while continuing to expand into emerging markets. Business models also continue to change with business processes now taking place in collaboration with multiple external partners from academic research institutions to clinical research organizations to contract manufacturers and beyond.
As industry pressures and business models change, so must the technology that supports the business. Organizations of all sizes aim to streamline how information is shared both internally and externally and both colleagues and partners need a simple and easy way to access information both in the office and on the go.
IT leaders must respond to these demands while trying to consolidate systems, determine when to use third party hosted applications (or even outsource altogether) and while trying to divert budgets away from maintenance to investments in technology innovations that will better support business needs. And of course, all of this happens in a highly competitive and regulated environment where securing and preserving intellectual property and being in compliance is paramount.
So where does that leave you? Perhaps feeling like you need a reminder of how to constantly anticipate, monitor, respond and adapt to change and some ideas that might provide guidance? If so, we can help.