Global forces are reshaping the life sciences industry, from rising research and development costs to a weakened drug pipeline and tightening regulatory requirements. Innovative companies are addressing these challenges with cloud technology that enables them to collaborate, innovate and streamline operations.
Life science companies must have confidence that their data is secure. Cloud applications backed by experts provide security with granular access controls, ensuring compliance.
Life sciences organizations regularly work with physicians, researchers, academic institutions, patients, insurance companies, and other partners. Having the ability to easily collaborate with those individuals and organizations and break down organizational silos is critical for these businesses. The cloud facilitates collaboration, enabling people across different offices and countries to work together on projects and documents in real-time.
Increasingly, life sciences companies are using the power of the cloud to generate business value beyond the cost efficiencies they typically target during a migration. For example, by building open platforms or ecosystems that connect internal operations and external partners, they reduce complexity, improve access to customer data and accelerate time-to-market for new products and enhancements.
Another benefit of software for life sciences is addressing regulatory concerns by establishing strong controls around sensitive information. Because of the nature of the data these companies deal with, a breach could be costly. Luckily, many cloud-based applications are designed to comply with strict industry standards and provide advanced security features that help flag potential issues before they have an impact.
The cloud enables life sciences companies to work more efficiently with their clients. For example, by deploying out-of-the-box integrated product suites that seamlessly weave data integration, commercial analytics, and AI/ML into the entire life sciences product launch process, they can automate market-based sales and marketing plans based on daily customer response patterns. This flexibility can save significant time and money during the product launch phase.
Life sciences companies operate in highly regulated environments, meaning protecting sensitive information is a top priority. Thankfully, cloud solutions are built for these demands, offering centralized visibility and easy compliance. In fact, by leveraging the power of the cloud, your company can deliver brand-new services in less than six months, step up release frequency from quarterly to weekly, and slash deployment lead times from days to hours.
In an industry where collaboration is vital, cloud technology helps life sciences teams work together more effectively, regardless of location. It allows for a more team-oriented approach and fosters the innovation needed to make a difference in an industry that relies on discovery and new solutions.
Like all data-driven businesses, life science organizations rely tremendously on their data. It is particularly true in the case of R&D-driven firms, where the smallest detail can impact the success of a product. However, outdated technology and poor informatics infrastructure stifle the ability to innovate and increase lead time for drug approvals.
Life science leaders must embrace the cloud and take a “cloud first” approach to unlock new opportunities. It’s important to remember that a successful cloud migration requires more than just adopting new technology. To truly realize the full benefits of the cloud, it must be a cultural shift that starts at the highest levels and is embraced by the entire organization.
As life science companies move to scale their capabilities, they rely on the cloud for cost savings, scalability, and security. These benefits allow them to deploy new services quickly, increase performance at increased demand and ensure business continuity in a disaster.
Scalability also allows scientists to access data from different sites, which makes it possible to collaborate on projects in real-time. Enables more efficient processes and reduces the need for face-to-face meetings and travel. It also increases productivity and helps to eliminate downtime. It is crucial in a highly regulated industry where any leaks can cause significant damage to the company’s reputation. Cloud-based systems protect data through advanced encryption and offer detailed identification and traceability, allowing access to be revoked almost instantly.
With these benefits, cloud computing is accelerating in the life sciences industry. To help smooth the transition, life sciences companies should focus on pace and prioritization and work to determine how to shift applications to the cloud piece by piece. They should also establish governance, operations, and delivery models to support the migration. They should also consider leveraging cloud infrastructure to avoid needing dedicated hardware. It will help to speed up the process and improve ROI. Additionally, they should ensure their teams have the tools to succeed in the new environment.
From creative marketing to detailed analyses in R&D and everything in between, the ability to collaborate across departments is vital for life sciences teams. Cloud-based software can help teams access and share content in real-time, reducing productivity problems and improving efficiency.
Collaboration can benefit life science companies that work with many outside entities, such as researchers, distributors, and patients. With the ability to chat and work together across time zones, the cloud helps ease communication between teams worldwide.
Unlike many other software packages, cloud-based applications will automatically update and refresh themselves. It eliminates the need for IT staff to spend time updating programs manually, saving valuable internal resources. PCWorld reports that 50% of respondents cited this as a critical benefit of the cloud.
Another significant benefit of the cloud is its ability to scale. Rather than installing hardware and software to meet data demands, life sciences companies can turn up or down capacity as needed, ensuring they only pay for what they need. It reduces capital and operational expenditure and makes the system highly flexible without sacrificing security or compliance.