Pharmaceutical companies are witnessing a shift in the way they function where innovative products, beyond the pill concepts, automated machine systems, etc. are defining new boundaries. Eroom’s law acknowledges the fact which states the cost and time taken to develop a new drug almost doubles every nine years.
With the recent developments in cloud technology, pharmaceutical giants are adapting to these new changes to stay competitive and offer premium services that support beyond the pill concept. As a matter of fact, Gartner predicts that by 2019, over 75% of life sciences R&D IT organizations will adopt cloud first application deployment strategies.
So, what is it that makes the difference for these pharmaceutical companies? It moreover would be slightly inclined towards the adoption of cloud technologies and digital transformation of their business, a definite reason for them to make the shift. Your next question would be – how does cloud help? Cloud surpasses hurdles which are in the path of the transformation process for these pharma giants, regulations, financial factors, conventional processes, securities, and standards are few known issues which are addressed by cloud. And just when the thought of going global is a necessity than an option, pharma businesses can trust cloud partners.
Talking about globalization, Clinical Trials is another booming field within healthcare where cloud technologies can surely improve communication between patients, investigators, regulators and service providers across geographies further making collaboration globally possible. This shift can immediately uplift the speed and timeline of Clinical Trials by getting instant results and pace smoothly wherever required.
Moving to the cloud is a logical solution and many pharma CIOs are in favor of this shift. For these reasons, several pharmaceutical companies are focusing on public cloud instead of having a datacenter of their own. Therefore, shifting to cloud ensures the following benefits:
- Cost – A typical healthcare cloud-based software costs less compared to a traditional software. Moreover, maintaining an application in cloud reduces almost 40% of the cost considering the actual usage Vs required usage.
- Efficiency – Cloud-based applications have the ability to automate and scale as per the need, which is highly missed in legacy applications. With early access to data, healthcare companies can gather valuable and actionable insights to further strategize and be competitive. In addition, to provision a cluster environment and to run a test application takes anywhere between 4 to 12 weeks, with cloud the time reduces to hours or days. There is a shelf life for the samples of Clinical Trials (e.g. DNA), with quick provisioning of a cluster environment, the value is significant.
- Decentralized – Pharma companies wanting to go global will definitely see a need to have a decentralized infrastructure. Moreover, building exclusive data centers pertaining to multiple locations can be a costly affair and may distract the company’s core interest. Decentralized infrastructure eliminates the need for separate data centers, users can access systems and data from remote locations with ease.
- Regulations and Security – Gone are the days when security issues played a major role in safeguarding infrastructure. Cloud-hosted data is highly secured under various compliances. Pharma companies need to have regulations in place for their offering which are completely taken care by cloud providers.
- Flexibility – Applications cannot scale if hosted on-site, cloud infrastructure supports scalability. Having scalable IT infrastructure helps pharma companies in supporting the beyond the pill concept and makes it easier for them to expand to newer geographies and also have faster go-to-market strategies in place.
In all of these benefits, CloudHedge enables pharma companies to either migrate their applications from legacy to cloud or Re-Factor them in order to run efficiently if they are already on the cloud. CloudHedge Re-Factors applications by automating the discovery, transform and deployment process, without touching a single line of code and within hours instead of weeks/months. CloudHedge’s tools also help in identifying the cloud readiness of healthcare apps and further optimize them if required at code level over subsequent releases, a part of accelerated cloud migration approach. Contact us today and schedule an appointment to discuss how we can help in transforming your healthcare applications.