Businesses have been making increased investments in cloud initiatives to improve elasticity, efficiency and innovation for the last several years. However, achieving the full benefits of cloud is complicated and involves multiple dimensions including rethinking strategy, technology, skills development, business processes as well as organizational design. But just because a business has started their cloud journey doesn't mean they are on the path to value.
In fact, compared to the eleven industries surveyed, life sciences companies ranked the lowest in achieving their innovation, data access and analytics goals from cloud.
We’ve highlighted three key reasons as to why this could be happening:
Cloud requires a commitment to experiment, fail and improve next time.
When part of an overall digital strategy, cloud has the ability to become a true business enabler allowing life sciences companies an opportunity to unlock data, collaborate across the ecosystem, improve engagement and more.
What is the #1 barrier to your organization achieving its expectations from cloud?
By taking a new perspective on cloud – from a technology “cost of doing business” to embracing the art of the possible – life sciences companies can truly align on business goals and outcomes. In fact, the rapid response for COVID-19 vaccines, delivery of digital therapeutics and cell and gene therapies are a few examples of how companies are setting the pace for transformation with innovation taking the lead.
Realizing the full potential of cloud requires more than technology. Life sciences companies must incorporate new ways of working and develop new roles and skills. Four critical areas for companies to address include: