The Life Sciences industry is experiencing rapid growth. Growth is usually accompanied by challenges that threaten to derail both present-day ambitions and upcoming developments, such as scaling up the organization, reducing the time to market for new products, and achieving commercial excellence. These growing pains are particularly acute in digital transformation, the primary driver of competitive advantage in the industry. Eraneos supports Life Sciences companies every day with the following challenges.
First, handling and analyzing datasets efficiently is usually challenging at scale. Meanwhile, ensuring security and compliance with data privacy laws while keeping up with rapidly evolving technologies are additional challenges. Even more important, accurate data can provide insights to make better decisions.
Second, many life sciences firms suffer from limited capacity and, as a result, a lack of resources to manage their growth trajectory. This resource scarcity is observed both in digital processes and within the business. Many also experience difficulties in retaining top talent due to industry demands while navigating the high turnover rates found in a competitive job market.
How can digital transformation provide opportunities to create ownership, retain talent, impact people, and speed up organizational growth? Our goal is to turn digital transformation into genuine impact in life sciences firms.
Eraneos guides Life Sciences organizations through their digital transformation, creating long-term value by providing structural support, moving beyond technology, and being a trusted business partner.
Structural support: The path to sustainable growth
Eraneos guides Life Sciences organizations through their digital transformation, creating long-term value by providing structural support, moving beyond technology, and being a trusted business partner.
This can be achieved by improving IT service and IT portfolio management processes, facilitating the prioritization of projects and requests, as well as aligning IT with these business processes. We perform assessments to determine if business requests comply with the goals and objectives of an organization and help plan project timelines accordingly.
We can assist in selecting and implementing applications for R&D, clinical, supply chain, and commercial purposes, including facilitating the movement of research notes from paper files to cloud-based solutions and enabling the replacement of on-premises legacy systems.
Furthermore, we assist with cybersecurity, compliance, and Computer System Validation services.
Moving beyond technology: Capability Mapping
Part of digital transformation for a growing company is assessing the capabilities of the organization and preempting the potential impact of changes and simulating scenarios.
A capability map connects people, processes, data, and technologies. We provide a structured approach to understanding the customer’s capabilities and interrelationships. This also aids in discussions about strategic investments and disinvestments, providing a common language that businesses and backers can understand.
IT department: Business partner for accelerated growth
Growth doesn’t just happen, and it certainly doesn’t happen the way businesses want it to. For Life Sciences companies, growth needs to be supported by strengthening the position of the IT department as a business partner. This aligns digital and business capabilities toward a common goal.
We create genuine impact for businesses by helping build and lead IT teams, developing business support organizations, and creating and maintaining internal and external relationships. Creating a more professional and aligned way of working will yield positive results.
Digital transformation is key. How organizations manage this will determine if businesses ride the wave of expansion to future success or crumble under the weight of heightened expectations. Find out how we can help businesses translate this growth into genuine impact.
If you would like to discuss this with us or have any questions, please contact our Life Sciences experts.
