CHAPTER 5

Technology solutions

Leveraging a third party to provide valuable technology solutions for your life sciences business can be a game-changer but there are important considerations in selecting the right vendor and service. 

Key considerations

  • Evaluate your requirements. How you are interacting with third parties and what your operating model will look like will determine which vendors you select.
  • Depending on whether you outsource or manufacture in-house will drive decision-making around the ERP, or enterprise resource planning, and could lead to cost savings if proper due diligence is performed.
  • Determine whether you will need an FDA-validated software environment. This decision will drive your decision-making around the ERP and the ability to use cloud software.
  • Evaluate and plan how you will handle serialization with your third parties.
  • Make forecasting and planning a business priority and develop an integrated process leveraging technology solutions to improve inventory efficiency.
  • Choose your partners carefully. Many technology vendors are only focused on implementing the technology. Look for partners that will help advise you on your business and how technology can better enable the business.

How many business applications do you have in the cloud?

NONE
ONE
SEVERAL

73% of organizations have at least one application, or a portion of their computing infrastructure already in the cloud and 17% plan to do so within the next 12 months.

 
Source: IDG 2018 Cloud Computing Survey

Other technology considerations include leveraging key systems such as ERP, customer relationship management, corporate performance management for budgeting, planning and forecasting, quality management, HR/payroll solutions as well as standard employee internal use systems. Implementing these solutions to fit in the overall operating model with your third parties will provide your organization with visibility into the business and optimized spend.

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