Cloud-based BioTech software solutions: Speed time-to-market and create competitive differentiation
The BioTech industry depends on time-to-market. BioTech companies are being pressured more than ever to introduce new products faster than ever before – and with higher quality and lower costs.
Complex business processes, mergers, acquisitions, and stringent regulatory compliance requirements have left many BioTech manufacturers using multiple disparate and paper based systems. By maintaining the status quo, these companies are ignoring the significant cost savings, efficiencies, and competitive advantages that current BioTech ERP and CRM systems, such as Microsoft Dynamics 365 (formerly AX and CRM), can provide.
CRM for BioTech
Pharmaceutical biotechnology is a futuristic industry. Modern biotechnology in pharmaceuticals is definitely different from traditional biotechnology that focused on secondary metabolites, antibiotics, steroids, vitamins, etc. The modern pharmaceutical biotechnology industry gives importance to newer biotech concepts of recombinant proteins, monoclonal antibodies, gene therapy and transgenic organism among others.
An overview of the pharmaceutical biotechnology industry in 2009 shows many changes in sales, market, earnings and R&D. New trends and reshuffling of top biotech companies and changes in bestselling medicine brands were registered. Lipitor retained its position as the top selling medicinal brand with $13 billion in sales followed by Plavix and Advair. Many blockbuster drugs had been registered to be sold by top biotech companies. However, expenditure on R&D registered a decrease in 2009, but in spite of a fall in R&D budget allocations, the number of new drugs approved by the FDA in 2009 increased considerably. A greater number of companies were granted licenses as compared to the previous year. There was also an increase in mergers and acquisitions of pharmaceutical biotech companies. Roche has been recognized as the most efficient R&D company in 2009.
Many pharmaceutical biotechnology reports forecast a market growth, novel technologies and expansion into new therapeutic areas during the next decade. The global pharmaceutical biotech market is predicted to experience continued high growth throughout this time. Pharmaceutical biotechnology drugs will be manufactured by all kinds of drug manufacturers ranging from major pharmaceutical companies to pharmaceutical firms that specialize in a single area. R&D activities have been predicted to grow with some significant R&D efforts having major impact on the overall biotech market. The introduction of innovative new treatments will result in further expansion of the pharmaceutical biotech market.
Use of CRM as a competitive differentiator
The importance of managing sales with a few customers and lots of stakeholders is not news to the Biotech industry. However, more and more, there is an understanding that the approach moving forward is to build strong customer relationships through best practice service processes.
This means that as soon as the agreements have been signed, the hard CRM-work starts in order to manage the customer through the delivery process of collaborative projects etc. To focus on these processes within CRM will be a new competitive advantage for the Biotech companies.
A Biotech firm that does not understand the importance of post sales activities and processes will have an uphill battle with unsatisfied customers, a high customer churn rate, project unprofitability, etc. In a market that gets more and more competitive every month, this cannot be an option. In the end, CRM is all about having the customer relation in focus and once the agreements have been signed the customer experience comes down to the end-user experience.
Deploy new sales strategies to enhance growth
There are a growing number of Biotech firms that are extending their Sales and Marketing strategy into deploying a “traditional” Pharma-sales force with the mission to target and promote the Biotech offering into key stakeholders (Key Opinion Leaders etc.) of the institutions.
CRM affects management’s ability to execute
The tangible benefits of CRM in Biotech are substantial and can come from several areas, including greater sales and marketing effectiveness, and more consistent and timely customer project delivery and support.
Making CRM work is an executive-level responsibility and requires ongoing management support. It is about leadership. It is about understanding your business and leveraging the latest technology to better compete. It is about involving the right people in the organization. It is about starting slow and providing continual wins to your customers and your employees. It is about enhancing customer relationships.
ERP for BioTech
Like Pharmaceutical companies, success in the BioTech industry depends on time-to-market. BioTech manufacturers are being pressured more than ever to introduce new products faster than ever before – and with higher quality and lower costs.
Complex business processes, mergers, acquisitions, and stringent regulatory compliance requirements have left many BioTech companies using multiple disparate and paper based systems. By maintaining the status quo, these companies are ignoring the significant cost savings, efficiencies, and competitive advantages that current BioTech ERP systems can provide.
Today’s industry leaders are using BioTech ERP Software like Microsoft Dynamics 365 (formerly AX) to achieve compliance, eliminate costly paperwork errors, speed up information distribution and collaboration, and enable strategies for improving product quality and process efficiency.
Powered by Microsoft Dynamics 365 and Azure, AKA’s DynamicsAdvantage for Life Sciences includes extended functionality for:
- Electronic Batch Records
- Quality Control and Document Management
- CAPA Incident and Non-Conformance Management
- Software Systems Validation
- Enhanced Audit Trails and Electronic Signatures for 21 CFR Part 11 Compliance
- Support for cGMP, HACCP, ISO, and other Compliance Regulations
- Material Control and Recall Procedures (Lot Traceability)
- Expanded Approval Controls
- Enhanced Quality Orders
- Training and Certification Management (Learning Management System)
- Recipe and Formula-Based Manufacturing
- Co-Product and By-Product Management