Reimbursement changes, geographic shifts and scientific advances are collectively driving a need for rapid change in operating models and the technologies that support them for all life sciences companies. M&A activity last year was at an all-time high, affecting IT departments and their ability to integrate and divest multiple systems swiftly and seamlessly. In addition, after years of selling primarily to institutions and providers, life sciences companies are pivoting to provide additional services to patients to drive better health outcomes. This shift is driving new requirements in systems and processes across R&D, sales and marketing, and supply chain.
Underpinning all of these changes is the omnipresent shift to digital. Digital offers a significant opportunity for life sciences companies to unlock business value through new business models. However, many of them are trying to compete in the digital world with applications that were designed for another era.