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Four Top Reasons Digital Infrastructure Drives Biopharma Company Value
25 Jan, 2023
Digital technologies are driving a massive transformation in the biopharma industry. They can help companies to innovate to develop products and services faster, engage better with consumers, and execute operations more effectively.
Here are four top reasons digital infrastructure drives biopharma company value and better positions your biotech or pharmaceutical company to raise capital or ready for M&A activity:
- 1
Commercial and operational growth
The ability to grow commercial and operational volumes and expand your business model is commonly referred to as “scalability.” But trying to do either or both without digitally-enabled processes often leads to extra people headcount, manually performed operations, lack of visibility for decisions, and lack of control and compliance as volumes and expanded processes occur. Investors know this, and to protect their expected future cash flows, they want to mitigate this risk by knowing the company is operating digitally.
- 2
Governance and control
Moving to digital necessarily includes evaluating and implementing adequate controls and overall operating governance of the way work gets performed, the way protected data must be secured and stored, and the way collaboration with outside stakeholders occurs securely and within compliance. Having compliance, control, and governance in place ensures that the biotech can contain risk and maintain compliance under those future expansion scenarios.
- 3
New digital business models
The number one advice Gartner Group gives biopharma CIOs in 2022 is to get to a digital platform that allows you to easily create new digital experiences. Surveys indicate that biopharma companies are past the phase of spending on lift and shift of their legacy apps into a secure cloud environment and are moving to spend on new, digitally enabled ways to harness data and provide experiences to patients, providers and customers. Enterprise value goes up for the biopharma driving digital disruption and down for the biopharma that is disrupted.
- 4
Secure collaboration
Our customers are constantly collaborating with outside parties to drive their drugs and therapies forward. We are all familiar with Zoom, Teams, and e-mail. But now, there are new ways to digitally collaborate in real-time with outside parties while maintaining security and compliance with controlled documents and data. Biopharma companies that enable real-time, secure collaboration with external parties will move faster and win the game.
Whether your biopharma is early-stage or growth stage, preparing for M&A or raising capital, getting the proper digital infrastructure increases your enterprise value.
Is your organization prepared to drive top value?