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Cost reduction for pharmaceuticals, life sciences and medical technology

Knowledge instead of guessing  - determine cost structures on the basis of the Data Platform

September 1, 2020

With the never-ending stream of new digital technologies, opportunities have opened up for companies that were hardly conceivable a while ago. The year 2019 was all about the digital future: Accenture heralded the post-digital era [1] while Deloitte announced: SciFi visions become business factors [2]! But when the world economy was overrun by Corona at the beginning of the year, the tide turned. Although digital technologies are still in the focus, it is now important to use them in such a way that they can be used to secure the shaky existence and market position of many companies. 

Cost reductions along the value chain

Questions about process and supply chain optimization, occupational safety, opening up new markets or new distribution channels are at the top of the agenda for many decision makers. For most companies, measures to sustainably reduce costs along the entire value chain, strengthen the core business and secure liquidity are therefore of particular interest.

Companies from the pharmaceutical, life sciences and medical technology sectors are also not being spared at present. Even if the demand for their products and services has even risen rapidly in recent months in some cases, questions about maintaining the supply chain, production capability and accelerating the test phases of new drugs are arising alongside traditional challenges such as price pressure, compliance and high research and development costs.

Determine cost structures based on data

The central data platform is an important tool for controlling cost-cutting measures. The Data Platform is not only the basis for a high-performance and reliable reporting and planning system, but also permits self-service analyses that allow the departments and management to question cost drivers in a targeted manner. In addition, the Data Platform offers scaling and expansion options for long-term issues: It also covers applications such as real-time queries, predictive scenario planning or big data analytics. 

Your contact

Do you have questions on this topic, would you like more detailed information and are you looking for an expert to help you? 

Please contact us! We look forward to a successful cooperation with you.

Hans Krefeld

Director Business Intelligence 
+49 251 26341 

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[1] Accenture. 2019. The post digital era is upon us. ARE YOU READY FOR WHAT'S NEXT? 
[2] Deloitte. 2018. Deloitte Tech Trends 2019: Willkommen in der digitalen Zukunft.

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