Cloud and mobile technology, sensors, and business intelligence of the next generation will create a new wave of business process automation — that is, streamlined, automated workflows with few transfers and end-to-end, real-time transparency on progress, costs, and business value. This will drive a step-change in the efficiency, responsiveness, and agility of a wide range of complex, often cross-functional, processes in the back office, supply chain, R&D, or business.Banks have shown that processing times and costs associated with opening an account or creating a mortgage can be reduced by up to 99% and 70% respectively, with a clean-slate redesign of these cross-functional processes and state-of-the-art digital technology enabling.
In pharmaceuticals, onboarding employees, planning sales and operations, launch monitoring, and approval of marketing content would benefit in particular from streamlined, automated workflows and increased transparency. Clinical trial management is another area that will see a dramatic change with advanced automation, from recruitment to submission. Targeted online recruitment and remote monitoring technology (sensors, connected devices, and apps) will increasingly enable clinical trials to take place in “real world” settings so that patients can live their lives while participating in a trial with very minor changes in habits.During the trial of a drug, significantly reducing interventions in clinics or trial sites will reduce the burden on patients and make test conditions more similar to the life of a patient when the drug is prescribed outside of a trial setting. Increased connectivity and automation will also enable advanced approaches to test design and monitoring in trial management processes. For example, to support the data management and analytics required for adaptive test designs, sites and sponsors can be connected.
In order to capture this value, each company will need to consider how its businesses are set to be affected by the ongoing digital changes and then determine its own course. A better understanding of what looks like digital success will help businesses get to their destination: improved innovation and business models for pharmaceutical companies and better patient care.