The Life sciences industry is at an inflexion point. The sector is facing challenges such as:
- Eroding margin due to intense competition, increased regulatory requirements and reduced reimbursements resulting from health care reforms.
- Faster Time to markets is a necessity. Companies should find new ways to get innovative drugs, devices, and services to market that reduce the cost of care while improving patient outcomes.
- Higher operation excellence ensuring patient safety and product quality.
Life sciences companies are building competitive advantages by entering new markets, standardizing global processes, leveraging their global buying power, and innovating with customers, partners, physicians, and patients.
New Technologies to Solve Today’s Challenges
With over 42 years of experience in working with life sciences companies, SAP has developed innovative technologies and platform to turn these challenges into competitive advantages. SAP helps the companies to stay innovative, enable compliance efficiently, and improve product efficacy.
- SAP HANA in-memory technology enables the real-time enterprise to improve profits through higher responsiveness, better strategic decision-making, faster analysis of genomic and proteomic data, more insights into supply and demand, more precise assessments of operational and compliance risk – and the list is not complete here. The possibilities are vast.
- Cloud solutions simplify deployments, boost collaboration, deliver agility, lower total cost of ownership and provide best practices. Some examples: With Ariba, life sciences companies can find, on-board, and audit suppliers including CxOs flexibly and stay compliant. Hybris enables to engage with patients, caregivers, and providers meaningfully. SuccessFactors helps to Acquire and retain specialized talent and scientists.
- Our industry knowledge, combined with new technologies, helps improve life sciences-specific processes in areas like R&D, serialization, compliant manufacturing, and sales, marketing and services.
- SAP created simple and elegant user interfaces that enable broad user adoption and time savings.
Let’s see these SAP innovations for Life Sciences in action:
Use Case 1
A medical device manufacturer needed a complaint handling and a global sales reporting tool. The company serves patients every 4 seconds,and 7 million patients per year – so the amount of structured and unstructured data they have to deal with is huge. With SAP HANA, unstructured text as large as 15,000 characters can now be managed and analyzed in near real time. In addition, global sales reportsformerly took minutes – today, they can be done in seconds.
Use Case 2
A pharmaceuticals company had limited leverage over their global supply base. During transactions, compliance was inconsistent, invoicing was paper based and almost 1/3 of all payments were late. After transitioning 1,900 suppliers onto the Ariba Network, the organization enabled a comprehensive supplier on- and off boarding process and real time suppliers and contracts compliance. They also increased touch-less invoicing into SAP by 60% and on time payments to vendors and partners to 98%.
Use Case 3
A medical device company lacked a unified view across their wholesaler, physician and patient channels. Sales contracting was complex, and visibility was not sufficient to up- and cross-sell across channels. With SAP hybris B2B Commerce, product content was consistently positioned and viewed, customer experience was harmonized, and organizations understood which channels originated the orders. Improved insights made increased cross- and up-selling possible.
There are many more stories from our unmatched customer base – 97% of the life sciences companies in the Forbes Global 2000 are SAP customers. In total, more than 3,200 life sciences companies, from the small private-equity-funded organizations to large multi-national enterprises, who all derive competitive advantage using innovative SAP solutions and technologies.
Watch Joe Miles, Global Vice President for SAP Life Sciences Industry Business Solutions, talk about SAP innovations in more detail here.