Bank on IT - Pharmaceutical Executive

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Bank on IT


Pharmaceutical Executive




USE WHAT YOU'VE GOT
James Macdonell
Vice President and Head of Delivery, Patni Life Sciences Practice

The most effective way for life sciences companies to manage the high costs of IT is to generate more value out of the systems they operate. It can be done—if companies follow a simple plan. Companies need to align IT with their business goals, define the strategic systems that will be the foundation of their IT architecture, and modify their IT environment to achieve their business objectives.

Aligning IT with business is a challenge in any market. Processes that were put in place to roll out a new drug may not be the best processes to support new product lines developed internally, through partners, or through acquisitions. Market disruption and economic turbulence provide the perfect opportunity for life sciences executives to evaluate every aspect of their business and make bold changes.

As the IT business alignment changes, executives have to re-examine their entire IT environment (application portfolio, operation processes, and infrastructure). Life sciences IT executives need to identify mission-critical systems, "sunset" the software and hardware the company does not need, and augment other systems with cost-effective, strategic alternatives.

The entire IT environment must address business goals in the following ways:

1: Strategic applications (ERP, CRM, Clinical Systems, Adverse Event Reporting Systems, and LIMS) must be used globally and expanded to address life sciences functions such as CAPA, Regulatory Reporting, and Quality Management.

2: Supply chain systems must be modified to meet life sciences business goals.

3: IT compliance must be aligned with the increasing numbers of regulatory bodies.

4: Long term partnerships with life sciences consultancies increase IT responsiveness and reduce costs for the IT environment.

5: Corporate IT management and its employees must focus on business goals, while trusted partners are used for world-class quality and world-class cost of services.

Cutting IT budgets alone won't help Life Sciences companies gain advantage in this current climate. Companies must utilize their IT systems more effectively to meet business goals, improve service and lower costs.


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