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Legacy software systems no longer make sense for life sciences businesses, especially those in Pharmaceutical manufacturing. The problem is that complexity, regulation, and competition have changed how pharmaceutical and life sciences firms must do business. Data is siloed, hard to update, and time-consuming to store or use.
The pharmaceutical industry has been transformed in recent years by pressure from intensely competitive markets and the need to comply with new regulations that mandate the highest quality standards across all processes. As such, cloud ERP is critical for pharmaceutical operations today given this environment.
As a pharmaceutical company, you’ll face numerous business challenges, most of which require specialized attention and full integration of critical systems and operations.
SAP ERP is one such tool that allows companies in the life science industry to do just that. Automation of key business processes in the life science industry has profound benefits.
One industry that is slowly adopting cloud computing technology is the pharmaceutical sector. The uptake of this technology in the pharmaceutical industry remains somewhat measured due to strict protocols and compliance regulations.
Modern biotechnology has enabled individuals and companies in the pharmaceutical industry to create breakthrough products and equipment for combating devastating and uncommon diseases, reducing environmental footprints, feeding hungry populations, and promoting safer, cleaner, and effective industrial processes.
When a life sciences product deviates from specs, be it a pharmaceutical or medical device, public health is affected and the defect might not even be readily observable. When a pen is manufactured incorrectly or suffers from shoddy inputs, a consumer just pulls out a different pen.
This new Insights Post explores how the SAP ecosystem can help life sciences companies align initiatives in both of these areas with digital transformation initiatives that embrace new subscription-based revenue opportunities and simultaneously map out an optimized roadmap for moving to more efficient cloud-based ERP and overall business systems.
A finance director at a large niche pharmaceutical company told us: “We have a lot of manual processes and inputting and that type of stuff which I am trying to get away from. These processes vary. One company we spoke to–a $110M equipment leasing firm–has been looking for a way out of this Excel mess for three years.
A finance director at a large niche pharmaceutical company told us: “We have a lot of manual processes and inputting and that type of stuff which I am trying to get away from. These processes vary. One company we spoke to–a $110M equipment leasing firm–has been looking for a way out of this Excel hell for three years.
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