TCS’ Digital Strategy Framework for Life Sciences Companies
Reimagining the pharma value chain
Industry
Life Sciences
Patient-centered Care Models Taking Center Stage in Life Sciences
In this article
Abstract
An effective digital strategy is a growth multiplier.
It enables life sciences companies to thrive in an evolving market landscape. The industry that faces multiple challenges—such as an increase in cost pressures, rigid regulations, declining R&D productivity, and disruption of existing drugs and therapies—witnessed the transformative impact of digital technology across the value chain. It has enabled innovation in areas such as cell gene therapy, digital manufacturing, smart clinical trials, and the like.
Life sciences organizations need to effectively harness the potential of digital technologies with the right set of capabilities (people, process, data, and technology). The right digital strategy must provide a roadmap that directs and aligns the efforts of the organization to leverage digital technologies efficiently.
Overview
Digital technologies reduce the drug discovery cycle time.
Translational research, advancement in data analytics, and smart digital clinical trials are driving unprecedented changes in the life sciences industry. Automation, advanced analytics, artificial intelligence (AI), and machine learning (ML) are enabling cost efficiencies, virtualization of clinical trials, and a quantum increase in efficiency and productivity of core operations (such as finance, HR, manufacturing, supply chain, procurement, and IT).
It is imperative for life sciences organizations to have a robust strategy that harnesses digital technologies and operating models to optimize core operations, reimagine products and services, drive therapeutic innovation, and provide next gen customer experiences.
Our solution
The framework defines a comprehensive strategy that aligns with the organization’s digital vision.
The framework includes the key aspects and dimensions mentioned above and factors in the company’s level of digital maturity. TCS’ approach to defining a digital strategy comprises four distinct steps:
- Understand strategic and stakeholder priorities, transformation goals, digital potential, and the market, competitors’, and disruptors’ landscape.
- Define the digital purpose, direction and aspirations, priorities, desired impact on customer experience, and key performance indicators for measuring digital transformation success.
- Create a vision for the digital foundation and the operating model, and a list of digital capabilities and use cases to follow.
- Iterate and execute the vision for digital foundation, digital transformation roadmap, operating model, digital capabilities, and use cases.
Benefits
Our solution guides life sciences organizations’ transformation journey.
The framework creates a roadmap that enables life sciences companies to reimagine their business digitally.
Key benefits of the framework include:
- Reducing costs and bringing drugs to market faster
- Transforming the talent and creating a digital ready mindset and workforce
- Achieving best-in-class customer experiences
The TCS Advantage
We provide a sustainable business advantage to our clients.
TCS’ Digital Strategy Framework for Life Sciences Companies leverages our deep domain knowledge, digital technology expertise, and innovation frameworks like TCS Pace™ and COIN™.
By partnering with TCS, companies can benefit from:
Thought leadership: Our proven methods, constructs, and best practices help in crafting a digital operating model as per each company’s level of digital maturity and specific business objectives.
Rich domain knowledge: Our rich repository of cutting-edge digital capabilities and use cases across the life sciences value chain, guide companies’ digital transformation vision. TCS’ extensive experience in driving large-scale digital transformation programs, combined with the ability to handle scalability and standardization requirements, ensures sustainable growth.
Strategic partnerships: We have an ecosystem of trusted partners across the globe. Our Co-Innovation Network™ (COIN) brings together start-ups, academia, and industry leaders, and a vast array of capabilities to build innovative solutions. COIN enables disruption through collaboration and takes an iterative approach to deliver rapid realization of benefits and ROI.
Technological expertise: Our expertise in industry applications, best practices, and technology, specifically in big data, analytics, cloud, data integration, and visualization, helps build context-specific solutions.