The Gartner Report on Business Drivers of Technology Decisions for Life Sciences identifies both digital business and digitalization as top business priorities. These are critical to support the need for innovation in the product lifecycle, to reduce growing costs and bring products to market more efficiently.
However, Gartner also highlighted that many of the industry leaders are not confident in their ability to gain beneficial results from their digital transformation processes, perhaps rightfully so.
A shocking two-thirds of all digital transformation initiatives end in failure.
Why? Many organizations are unprepared for digital transformation and fail to follow best practices.
Here are some key points to remember for successful digital innovation in Life Sciences:
- Illustrate to your organization the importance of digital transformation by explaining why it is needed and the IT and business challenges involved
- Integrate business drivers into the prioritization and funding of IT initiatives
- Find a platform that enables enterprise mobility, low-code development, and rapid deployment
- Align resources, metrics and capabilities of your IT with your key business priorities
With an informed digital transformation strategy and execution plan, life sciences organizations will be able to reap the benefits of streamlined processes, including a more simplified product lifecycle, faster time to market, easy-to-maintain regulatory compliance, and cost savings throughout.
For a more in-depth understanding of digital transformation across the product lifecycle as well as a look at future trends for the life sciences industry, register for the upcoming webinar Product Lifecycle Transformation: Best Practices for the Digital Era.
This webinar will feature insights from Rob Taylor, the Director of Global Regulatory Affairs & Clinical Safety at Merck and Evi Cohen, the Vice President of Global Pharma & Life Sciences at Appian on these topics.
