Digital transformation in the Pharmaceutical Industry | It occurs when we see profound change in the way we conduct business including new processes and competencies in order to fully benefit from digital technologies.
The 3 stages of digital transformation
What keeps us from achieving this 3rd level of digital transformation?
1. Pharma is certainly conservative by nature.
And the pharmaceutical industry tends to promote from within our industry and our own company. This makes it easier to follow what is already being done and harder to inspire and embrace new ways of thinking. We often find ourselves looking for small improvements vs. demanding profound change.
2. Pharma takes a longer-term view of technology.
Sales and marketing related initiatives still tend to be based on SFA / CRM systems which by their very nature restrict innovation. We buy systems to keep us safe, rather than explore new worlds. And our heavy investment in these systems prevents us from looking at alternatives in the short and medium term.
3. It is in our nature to stay safe rather than try new things.
And we are rewarded for never failing. However we all know that no cakes get made without breaking an egg or two, and no transformation occurs if we always play it safe.
The 4 steps to success in digital transformation
1. A new screening process for HR.
Is the candidate brave? Curious? Interested in immediate feedback? Willing to take personal risk? Accountable for the change required from inspiration through to reacting to the results?
2. Rewards for taking data driven decisions.
The risk of transformation is minimal when we base our decisions on data. And rewarding these behaviours brings increased satisfaction from our internal and external customers who see that we are listening.
3. A move toward more dynamic and flexible platforms.
We need to have the ability to change platforms and/or adapt them to our changing needs without the current required time and financial investment.
4. A real appetite for change at the Senior Leadership level.
Until senior leaders demonstrate a commitment to transformation and begin to model the desired behaviours, we should not expect organizations to transform.