Across industries, cloud computing is being implemented with hopes of improving resilience, speed, scalability, and more. Gartner has reported that “Enterprise IT spending on public cloud computing, within addressable market segments, will overtake spending on traditional IT in 2025.” For Life Sciences & Biotech organizations, specifically, the cloud offers some key benefits. Explore some of the key ones below:
Stronger data analysis
With cloud platforms, analytics use cases can be scaled and deployed quickly and easily along the entire value chain—from early development and clinical trials, to manufacturing, and eventually customer engagement. Analytics can also be used to enhance key processes, like demand forecasting and performance projection. For small and mid-size companies, the cloud provides the computational power and flexibility they need to develop and capitalize on analytics use cases. Coupled with the cloud, analytics can help you not only identify potential areas for improvement, but also improve upon them.
Global standardization of processes
Whether migrating a whole system or just a small part, the cloud offers the opportunity to simplify and standardize business processes. Using a large provider, like AWS or Azure, that incorporates mature processes can help enforce standards and avoid time-consuming blueprinting—which is a notorious cause of overruns in traditional IT implementation. Cloud migration can also be a catalyst for shifting from local to global processes in other key areas, like:
- Using research data across systems and functions
- Optimizing supply chains
- Standardizing sales operations
This can be especially advantageous for Life Sciences & Biotech companies operating across multiple locations and adhering to different compliance regulations.
Drive business innovation
A shift to the cloud can accelerate and scale up innovation by shortening technology-innovation cycles. “With cloud technology, companies can deliver brand-new services in less than six months, step up release frequency from quarterly to weekly, and slash deployment lead times from days to hours,” according to Deloitte. The cloud enables you to have the development, quality, and production components side-by-side, so changeover is quicker and easier than it is on-prem. You can also automate certain parts of your infrastructure—or the whole environment—which can help contribute to faster innovation cycles, as well as improved agility and resilience.
These are just a few of the benefits Life Sciences & Biotech companies can expect when working in the cloud. At iuvo Technologies, we’re experts in the cloud, and have experience helping companies migrate and manage their cloud environment. Check out some of our Life Sciences & Biotech client success stories or contact us to learn how we can help you optimize your cloud journey.