Knowledge-Based Outsourcing: Driving Deeper Insights - Pharmaceutical Executive

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Knowledge-Based Outsourcing: Driving Deeper Insights
Tracking, monitoring, and trend evaluation based on predictive modeling and forecasting is not enough. Companies must now do more than assess what happened and why. Enter actionable analyticsa way of making information-intensive processes more efficient


Pharmaceutical Executive


Realizing the Advantage

Creating variable capacity via outsourcing can be complex when the functions under consideration are decentralized within the company. If a centralized operation is to be outsourced, typically fewer stakeholders are involved, and the process is less arduous. Successful transitions typically focus on:
Identifying cost reduction opportunities that don't compromise the integrity of existing programs;
Streamlining workflows and improving processes—within a specific country, across a region, or around the world;
Establishing analytical teams that are centralized, offshore/external, and scalable;
Enabling a common platform for research findings and recommendations; and
Focusing a smaller number of internal resources, each with unique talent or knowledge, on higher-value activities that leverage analytical output.

However, if a company's processes or functions are decentralized, there is an even greater opportunity to drive speed to insight as analytical and information processes can be streamlined in a manner that eliminates commonly redundant activities through:
Improved data integration and management;
Best practice analytic approaches and methodologies;
Consistency in Key Performance Indicators (KPIs) and metrics to measure success; and
Leveraging a common knowledge repository.

The migration towards outsourcing starts with an informed diagnostic assessment of the decision-making process and the supporting information processes. After one clearly defines the processes, a model can be developed to flexibly and effectively support the dynamic needs of the business.


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