The life sciences industry is at a pivotal crossroads in its evolution. Pharmaceutical, Biotech, and medical device manufacturers seek a laser focus on the core mission of delivering therapeutics yet need to address challenges that could influence their prosperities for years to come.
Focus Areas Include:
- Digital transformation in Life Sciences can speed up time-to-market, improve cost efficiency, and increase profitability and competitive advantage atop a unified enterprise ecosystem.
- Supply chain visibility to comply with FDA track-and-trace requirements, documenting a product’s supply chain journey to combat counterfeit drugs.
- GxP compliance that satisfies “good ‘x’ practice” FDA regulations governing the use of IT systems at life sciences companies.
Digital Transformation in the Life Sciences Industry:
The Life Sciences Industry is undergoing a significant transformation. Traditionally, Life Sciences companies were sluggish to integrate emerging digital technologies such as artificial intelligence/machine learning (AI / ML), Cloud, and the Internet of Things (IoT) into their system. However, as the pandemic began, businesses were compelled to prioritize investments in digital innovation and instill it into their operations.
Digital transformation road maps planned for years were suddenly executed in months, bringing about radical changes in how companies conduct operations. For life sciences companies, digital transformation is the therapy of choice to enhance speed and agility in a fast-changing healthcare landscape. We have seen an industry-wide migration from legacy systems to best-of-breed cloud applications as pharmaceutical, Biotech, and medical device manufacturers pursue IT modernization and digital transformation. Those efforts were underway before the global pandemic spotlighted the life sciences industry.
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