Discovering news drugs and smoothly delivering products through wide-reaching distribution channels are keys to success in pharmaceuticals and biotech. Control of intellectual property and complying with myriad regulations are also primary considerations.
To achieve these goals, life science companies look to IT. Unfortunately, the large IT investments have already been made have resulted in data silos and complexity which slow down future projects. To overcome these silos, life sciences companies are seeking new ways to integrate their extended enterprise data.
Composite Data Virtualization Solutions for Life Science Companies
Life science companies, including six of the top ten pharmaceutical companies rely on the Composite Data Virtualization Platform to provide the diverse information required across a range of strategic initiatives and business-critical IT projects.
Composite data virtualization is a more agile, lower cost data integration approach that successfully addresses complex organizational and product line data silos and delivers significant business benefits including:
- Increase Revenues – Accelerate drug discovery and approval
- Improve Productivity – Streamline sales and distribution processes
- Reduce Costs – Avoid long data integration development cycles and excess data replication
- Decrease Risk – Improve visibility across multi-year, collaborative R&D initiatives
- Ensure Compliance – Meet FDA and EMA compliance data requirements faster, for less
- Drug Discovery – Effective pipeline management is the key to winning the battle in preclinical drug development. New technologies enable integration and collaboration in ways that are challenging conventional methods of monitoring the drug pipeline. Currently, most business information about preclinical activities resides on disparate, multiple platforms. Users have to access separate systems to extract, compile, and assemble reports from multiple laboratory operations. Composite offers easier access and visibility into an organizations disparate data to speed the process of drug discovery.
- Clinical Trial – Pharmaceutical companies are always seeking to accelerate preclinical development and hasten clinical information exchange to bring drugs to market faster. Composite provides a unified view of disparate scientific information across your enterprise to help answer critical questions such as: is your NDA submission on target, is your pivotal phase II DB Lock going to be on schedule, are there any CRF design issues?
- Physician Payments Sunshine Act Compliance – Pharmaceutical and medical device manufacturers in the U.S. need to comply with the Physician Payments Sunshine Act. Companies use data virtualization to create a single view of a physician to prevent over spending and compile regulatory reports.
- Sales Management – Sales managers need up-to-the-minute information at their fingertips to increase revenue and drive sales productivity. You can’t react to situations you are not aware of. The costs associated with lost opportunities or problems left unresolved are significant. Answers to questions such as am I tracking to make my numbers this month, are we meeting with the right physicians and providers, are my products shipping as planned, and more are constantly being asked each day. While this information resides in multiple silos, you need what you need, no matter where it resides. Composite can bring that information to you in the way that you want to see it.
- Human Resource Management – In life sciences, finding, developing and retaining a highly skilled professional workforce is paramount. Leadership teams must be aware of the human aspect of their businesses at all times. Information is critical including skills development, legal and regulatory mandates on diversity; health care costs; training costs; and demographic shifts in workforce composition. Composite lets you integrate all this data.
- Single View of a Physician – A single view of a physician can improve the pharmaceutical sales process. An effective solution gathers physician information that is scattered throughout the organization and delivers it to a sales rep on demand, allowing you to make the right business decision concerning the doctor. Composite’s unique solution leverages existing data sources and applications while enforcing fine-grained security controls. Composite enables you to stay ahead of the competition and allow you to earn the loyalty of the busy physician.