What Do Pharmaceutical Companies Need to Prioritize for a Successful Digital Transformation?

What Do Pharmaceutical Companies Need to Prioritize for a Successful Digital Transformation?

Like many industries, the pharmaceutical industry is undergoing a rapid transformation powered by technology. These technologies allow companies to improve business operations and empower the innovation needed to be competitive in today’s market. For pharmaceutical companies, time to market a new product can be costly and time-consuming. In this complex and regulated industry, it can take over a decade to bring a new therapy to market, while costs can total over $2 billion. Because of this, any efficiency that can be introduced throughout the product development life cycle can result in invaluable savings in terms of time and money.

Technologies that previously have been associated with cutting-edge tech companies – such as blockchain, data warehousing, and artificial intelligence – are now being put into use by more traditional industries, including pharmaceutical companies. These technologies enable companies to become more agile and efficient throughout the product life cycle, providing an advantage over competitors who have not yet embraced these advancements to their full potential. Additionally, many pharmaceutical companies are interacting more with patients, with the development of patient-facing digital initiatives such as mobile apps, wearable devices, and even eCommerce websites.

Building IT Environments to Support Digital Transformation Initiatives

While a digital-first approach has many benefits, the underlying IT infrastructure required to support this shift has to be agile, scalable, and reliable. Technologies such as cloud, containers, and SD-WAN unlock the ability of pharmaceutical companies to eliminate inefficiencies and replace outdated business processes with streamlined digital-driven versions.

As pharmaceutical organizations become more reliant on digital technologies to support various areas of the business, uptime becomes increasingly paramount. However, the more complex your infrastructure becomes, the more the likelihood of outages or brownouts increases. An outage of even a few short minutes can cause disruptions that have large impacts in terms of lost revenue, productivity, and reputation. By building a reliable infrastructure coupled with comprehensive monitoring, you can rest assured that necessary workflows will be supported across the organization.

Why SaaS Monitoring Is Essential to Digital Transformation Initiatives

Legacy tools often rely on on-premise infrastructure and can be difficult to scale across new technologies as quickly as today’s modern enterprises require, and many IT teams are left with areas in their IT stack that are not adequately monitored. It is more difficult to anticipate and resolve issues when you do not have full visibility of all systems or if you are constantly moving between multiple systems. 

SaaS monitoring provides the agility and extensibility needed to cover any new technologies easily, while automatic updates mean little maintenance is required for the tool itself – freeing your teams to focus on strategic initiatives. The flexibility of a SaaS platform also means that you can future-proof your monitoring and support any future changes necessary for your organization’s digital transformation. Infrastructure monitoring can easily be forgotten when building out a digital transformation strategy. Including it in your plans will ensure your infrastructure is reliable and scalable as your company grows. 

Learn more about how LogicMonitor is helping pharmaceutical companies unlock the power of digital transformation. 

Kathryn Drake

Kathryn Drake is an employee at LogicMonitor.

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