Using Technology To Polish the Pharmaceutical Industry
Date: Monday , July 01, 2013
Based in Mumbai, Cipla (BSE: 500087, NSE: CIPLA) is a global pharmaceutical manufacturing company with a presence in over 180 countries.
The pharmaceutical industry has been hand-in-hand with technology ever since the invention of the first drug. Back then technology was in its most primitive form of a batter and a bowl, but like all things that too has changed. Today, technology plays such a crucial role in this industry that without it the entire practice would fall.
Permeating to Various Verticals
All businesses across verticals invest in technology to create efficiency and automate processes. Some solutions are common across industries like Financial Accounting, Human Resources, Manufacturing & Supply Chain, and Regulatory Compliance to name a few. Beyond that there are industry specific solutions which give the company an advantage over competitors in many cases. The Pharmaceutical industry has many such solutions that impact the business and some that are required for quality management as well as compliance to various regulations governing the industry. The choice for companies is to deploy the basic and necessary or to take advantage of new technology trends and create a differentiation.
Technology trends do not shape an industry, their innovative use for business does. Current hype includes Big Data, realty and mobility is growing fast, while cloud still remains on the fringes. Wearable computing brings new opportunities for different industries including healthcare.
The Journey of Transformation
In Pharmaceuticals, one of the key challenges unique to India is the availability of secondary sales data. There are some companies who offer market data; the quality, depth and granularity of information needs significant improvement. As more and more distributors and chemist/pharmacies adopt technology solutions, there should be some change. Cipla has undertaken a transformation journey to upgrade its technology architecture to address the future aspirations of business growth and expansion. This involves consolidation of data centers, which has already been executed, and renewal and refresh of some key systems that will give the company new capabilities to leverage the market.
Moving Towards the Future
Cipla is a wellness company that focuses on providing affordable medicines to everyone globally. The company’s initiatives around health and patient education have helped millions in managing lifestyle, chronic and life-threatening diseases. Technology enables the business and the ability to manage the data generated through doctor prescriptions and the data shared by patients. Cipla is committed to making contribution in the lives of people across the globe by providing access to new and creative healthcare solutions with the belief in the power of the human spirit. (As told to Sandeep Sen)