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Dynamics 365 and the Biotech Industry
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Dynamics 365 and the Biotech Industry.
Dynamics 365 and the Biotech Industry. 700 500 Xcelpros Team

Introduction

Biotech companies, like other highly regulated industries, must stay focused on their business to stay competitive and profitable, leading many to wonder if a solution like Microsoft Dynamics 365 can help. Microsoft’s latest offerings include several different cloud-based software applications that can help your business succeed, no matter what industry you operate in. From CRM software that helps keep your customers satisfied to accounting and invoicing software that can streamline your operations, Dynamics 365 can improve every aspect of your business.

Overview of Microsoft Dynamics 365

We talk about Microsoft often, and with good reason. The latest version of Dynamics 365 offers a comprehensive, integrated application suite that helps midsize and large enterprises of all industries and sizes operate more efficiently. Organizations that have leapt legacy software happily report increased efficiency, profitability, and customer satisfaction, especially over time.

Microsoft Dynamics 365 uses complex algorithms, data analytics, cloud storage, and processing power to provide users with real-time data across their entire operation. Built on Microsoft’s Cloud technologies, it is an extremely capable Enterprise Resource Planning (ERP) solution that includes modules for finance, HR, sales, and marketing, integrating seamlessly with different Office365 applications like SharePoint Online.

Key capabilities include time management for HR teams and a BI (Business Intelligence) feature for analyzing important insights about sales performance or key metrics like customer loyalty. With Microsoft Dynamics 365, leaders can see where they stand with goals and forecast future results. With this information, they can make informed decisions based on reality instead of fear.

As organizations in the life sciences move into uncharted territory with technology innovations happening at an accelerated pace, they need solutions to help them stay competitive. A more thorough list of features includes inventory management (for example, purchase orders), financial forecasting (budgeting), contract management (including contracts with suppliers) and payment terms, which make the system highly flexible for any size organization or environment, reducing the need to customize solutions based on old ideology.

Benefits & Advantages of Switching to Dynamics 365

After switching from legacy software to Microsoft Dynamics 365, organizations can expect increased agility and enhanced efficiency in operations. Biotech companies will be able to find success by speeding up innovation and giving themselves a competitive edge over their competitors.

With Microsoft Dynamics 365, they’ll have more insight into what customers want, which products are working well and why they’re not doing as well as they should. Organizations will also have access to data that would have been difficult or impossible to retrieve, like customer feedback about past product launches.

Armed with more information, companies can go back and improve those products to give them better chances of success. They’ll also be able to make more informed decisions based on accurate data, meaning everything will run smoother when it comes time to restock inventory.

Employees will get more personalized insights allowing them to develop creative solutions to problems on the fly without having to wait for IT staff. Plus, all employees have an easier time finding needed resources because of how closely tailored Microsoft Dynamics 365 is to their needs as employees of that organization.

Microsoft Dynamics in Biotech

Biotech companies are constantly challenged to maintain compliance standards, but there are features within Microsoft Dynamics that help with regulatory requirements and inventory control.

And with eForms, document management, and archiving solutions, you’ll have all your data captured in a central repository where you can use intelligent or custom search to find what you need when needed.

Figure 1:Microsoft Dynamics 365 for the Biotech Industry

Microsoft Dynamics 365 for the Biotech Industry

Here are some more specific reasons for Microsoft Dynamics 365 in the Biotech industry.

  1. 1.Microsoft Dynamics 365 enables automation for several Biotech processes out of the box, which ensures you’ll spend as little time as possible getting up and running.
    1. a.AP automation
    2. b.Business Process Library (BPL) management for ISO certification
    3. c.Lot, batch and quality tracking
  2. 2.Dynamics 365 provides powerful insights through machine learning tools like Power BI that help measure customer engagement metrics, letting you plan and forecast more accurately.
    1. a.Expenses
    2. b.Budgets and forecasts
    3. c.Increased visibility for investors
  3. 3.Seamless integrations to the entire Microsoft 365 ecosystem and other third-party solutions give you greater visibility of everything under one roof for maximum long-term value.
    1. a.Banks
    2. b.Label and Lab software
    3. c.Payroll systems
    4. d.ACH
  4. 4.Powerful scalability means you can add additional functionality or users as your business grows.
    1. a.Subscription-based pricing helps you manage your technology budget
    2. b.Secure team collaboration from different devices around the world
    3. c.One solution is to invest in the long-term

Microsoft Dynamics offers more than just sales, finance, and operations functionality. So, suppose any part of your operation needs a software solution. In that case, it’s worth exploring how Microsoft Dynamics 365 could be leveraged to give you a competitive edge over others in your industry.

The Biotech industry is a perfect example with numerous variables such as complex research, high failure rates for drugs going into clinical trials, and fluctuating levels of competition. The technology tools businesses use in this sector include precision engineering and computer modeling, proprietary manufacturing methods and other specialized equipment.

One thing to consider with Microsoft Dynamics is that the company updates their products at least once a year, ensuring they’re always keeping up with the latest trends in technology. For example, annual releases include updates across the entire product portfolio. Each solution can provide better support for real-time decisions based on emerging technologies such as Ai (Artificial Intelligence), IoT (Internet of Things), and analytics.

Technology that Supports Your Workflows

Microsoft Dynamics 365 is a complete suite of technologies designed to streamline workflows and get more done in less time. The complete suite is designed with the people and processes that power your business in mind. Microsoft Dynamics 365 incorporates three main categories – customer engagement, employee engagement, and intelligence capabilities – to help all your employees work better together by offering a cloud-based app that functions on any device so that you always have access to information.

Microsoft Dynamics 365 also includes all necessary functionalities such as finance and accounting, manufacturing, retail management, enterprise resource planning, customer relationship management and marketing tools to be flexible enough to adapt to any size or type of business.

These tools are designed to save you time while improving your decision-making abilities. Additional benefits include easy deployment and customization options tailored specifically to meet your company’s needs and greater security due to its compliance with data protection regulations like HIPAA, GDPR and PCI DSS standards.

Factors That Can Affect Your Migration

Key factors that can affect your migration to Microsoft Dynamics 365 usually include financial considerations, customer-facing tools, and Industry-specific modules. Considering these factors is essential when looking at the different migration paths and key decisions, such as starting from scratch or migrating everything from your existing system.

These decisions should be made with a strong understanding of Microsoft Dynamics 365 functionality and features. As mentioned previously, it’s important to research the best path for your organization before beginning any work on migrating data into Dynamics 365.

One major consideration is working with a Microsoft Partner specializing in either Data Migration Services or Application Integration Services, who’s worked with both systems. The right Partner will work with you through the process and help ensure it goes smoothly and efficiently.

It may take longer initially if you want all your data transferred. Still, this way, you won’t have any gaps in information once everything has been moved over, which could lead to a smoother transition overall while also avoiding potential errors due to duplicate records or inaccurate information.

Critical Aspects when Migrating to a New Platform

Below are five critical aspects to remember when migrating your business to any new platform.

  1. 1.Think about how long it will take you to make the migration before you start. Migrations that take weeks or months can consume your budget and cost you valuable time.
  2. 2.Ensure all stakeholders agree on what they want to achieve through a migration before your project starts.
  3. 3.Evaluate whether it’s feasible to do an incremental migration rather than a full one-time conversion from the legacy system to Dynamics 365 (keep in mind incremental migrations have their own set of issues and problems).
  4. 4.Consider migrating other aspects of your business, along with data – Integrating Dynamics 365 with your partners and vendors, for example, can help streamline day-to-day business functions.
  5. 5.Focus on understanding who uses which features and how they use them.

Understanding your needs ahead of time will help optimize your experience in the future. You’ll also want to set up a post-migration process where feedback channels are open at every step of the way, so that any challenges experienced by staff during the migration can be resolved quickly without disrupting business operations.

Final Thoughts

Whether you’re an aspiring startup or an established Biotech company with a growing number of employees, Dynamics 365 continues to offer many powerful features that let you offer a better customer experience and help you keep things running smoothly.

Here are the next steps if you’re ready to get started updating your Biotech business solution to Microsoft Dynamics 365:

  • Find a Partner that understands the software, your industry, and the work you do.
  • Consider your company’s specific needs and goals to ensure the proposed solution meets these criteria.
  • Assess the current state of any legacy software in use, including the time it takes to manage payroll with old systems.
  • Identify what functionality is already included in the system and set clear priorities for needs and wants.

Contact us right away for additional details or to learn how we can support the expansion of your Biotech company.

About XcelPros

XcelPros is a Chicago-based company and delivers transformation through technology. We offer business and technology solutions with deep industry experience in Chemical, Pharma, Life Sciences (including Medical Devices, Bio-Medical & Biotech), Insurance, Discrete Manufacturing, Process Manufacturing, Distribution and Food & Beverage.

XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

Contact XcelPros today to transform your business.

Call us toll-free – 1.855.411.0585 (or) visit https://xcelpros.com/

Cros move from conventional project management to strategic partnership banner
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How Life Sciences CROs Are Changing To Strategic Partners: The Covid-19 Effect
How Life Sciences CROs Are Changing To Strategic Partners: The Covid-19 Effect 700 500 Xcelpros Team

At a Glance

  • The biotechnology and life sciences industry is at a cusp of significant changes due to COVID-19. A lot of fluidity is built up due to the pandemic and a significant dependency on government rules, FDA regulations, intricate drug production and overall research and development.
  • These firms are looking for Contract Research Organizations (CROs) who can take the role of strategic partners that can manage their life sciences research & development. The preference of CROs has already shifted from traditional to technologically adaption that can handle the rapid pace needed due to the existing COVID-19 emergency.
  • The call for innovation and increased collaboration among CROs has led to a new, more comprehensive project management era. It is improving customer engagement and experience.

The Role of a Contract Research Organization

Project management is the backbone of any contract research organization. Regardless of its specialty–biopharmaceutical development, commercialization, preclinical research, clinical research, clinical trial management or pharmacovigilance-all require project management. Pharmaceutical and life sciences companies outsource research and development work to CROs for better time management, test data maintenance and focus on concrete results.

While the role of CROs was not very well defined in the early 2000s, they have evolved from being mere project management vendors to strategic partners for life science organizations. Contract work is now common in various steps of the research life cycle. Adding contractors is now a necessity for the R&D wings of any biotechnology or pharmaceutical company.

Active engagement with CROs helps accelerate the drug development process. In the Covid-19 era, these CROs must be prepared to streamline their project work without a process breakdown.

CROs have evolved from a target-based model to become more a strategic partner to life sciences and biotechnology companies.

Pharmaceutical companies conduct sponsored trials, driving their products safely and quickly to the market. Initially, these projects were outsourced to CROs with a limited scope of time and budget management. Now the CROs are expected to manage risks and maintain transparency throughout the clinical trials. The rapidly expanding biochemical industry demands that CROs keep up with market conditions.

According to contract research organizations global market report, The global market for clinical trial services to biopharmaceutical, biotechnology and medical device companies is forecast to grow at 12% year on year up to 2021.

This stat is already obsolete. The need for contract research and development services is increasing as life science companies seek to find effective treatments and possible cures for the SARS Covid virus.

Figure: 1 Steps for Right Partner Selection

Steps for Right Partner Selection

Growth and general technological disruptions in project management are leading to a progressive change in the roles of CROs while managing sponsored clinical trials.

Situations affecting CRO evolution

  • End-to-End Strategic Partnerships: CROs are no longer just outsourced vendors for life sciences companies to carry out Pharma research or conduct clinical trials. CROs are now expected to become pharma companies’ strategic partners, helping make their clients successful. End-to-end coordination with pharmaceutical companies gives these organizations the time and stability they need to focus on core research. Coordinating from the start helps the CROs capture the right kind of clinical data required to make each drug commercially viable.
  • Bringing Innovation to the Table: CRO project management is not just about completing given tasks while meeting their client’s deadlines. Working closely with their customers means changing how they work. That, in turn, requires newer project management approaches that take research from start to finish. Pharmaceutical companies expect innovative, out-of-the-box solutions to manage risks, cut costs and push the boundaries of paramedical science while complying with the government’s rules and regulations. An important change is that CRO project management has moved from being reactive and solving problems to becoming proactive, anticipating problems and providing solutions.

Figure: 2 Key Parameters CROs are Assessed on

Key Parameters CROs are Assessed on

  • Being Technologically Ahead: Companies can start with three main technology initiatives: transitioning to cloud computing; creating strong workflows to move processes and procedures forward; using online collaboration tools.
  • Each of these above points leads to faster results, fewer errors, better team management and improved communication between the client and the CRO during the project life cycle.

Get a free consultation to learn more about life sciences digital transformation.

Get Started

Customer Experience and Engagement

A crucial part of project management is actively engaging clients when a project requires collaboration. Customer experience and engagement can no longer be ignored. Making a strategic partnership work requires communication between everyone involved.

An effective customer experience approach requires knowing what to do, how to do it and using every available tool to create acceptable results.

Connect your processes, customer data and tools with Dynamics 365 and the Microsoft Cloud

Customer Experience (CX) and Customer Engagement (CE) can be made better for a CRO

01.Process and Procedures

Some ways to improve the customer experience and boost customer engagement are:

  • Improving team management
  • Quick onboarding of clinical trial experts
  • Using effective cost management techniques
  • Proactively managing clinical trial risks
  • Mitigating probable risks strategies
  • Using detailed analytics to monitor, report and understand research data
  • Using resource planning tools to optimize resources for multiple projects
  • Simplifying milestone-based billing
  • Improving deviation-tracking methods to remove unknowns early in the project lifecycle.

Life science CROs should consider using a next-generation customer experience platform to accelerate development and drive demand. Microsoft Dynamics 365 is one such system that offers the essential tools and capabilities in one comprehensive ecosystem.

The seamless integration between Dynamics 365, robust cloud computing, artificial intelligence and tools such as Office 365 can help. Dynamics 365 is a class-leading life science customer engagement platform that functions across mobile devices, which is a large market need.

02.Digital Advancement

To enhance their customer experience and engagement, companies should:

  • Move from legacy systems to the cloud
  • Use advanced analytics for risk prediction and mitigation
  • Systematically manage their R&D database with digital applications
  • Use software tools to Improve collaboration with clients
  • Reduce human intervention and automate project management workflows
  • Create customer and supplier self-service portals to engage both
  • Use in-line reporting through key project milestones to build trust and visibility with customers

03.The Inevitable Evolution

The changing role of CROs is leading to greater expectations from life sciences clients. Pharmaceutical companies are looking for CROs that are not afraid to push boundaries and are adept at using the latest tools and techniques.

Companies aiming for greater customer satisfaction can use cutting-edge technologies to engage with CRO’s at an integral level. As a result, CROs are becoming be more innovative and agile in their project management approach.

An interdependent relationship helps with clinical trials while improving the client company’s overall research and development. A well-managed and organized workflow-based environment helps contractors and clients.

Two tools that can help build this interdependency are Microsoft Dynamics 365 Finance combined with D365’s Supply Chain Management. The two modules can help create a comprehensive system to aid a CRO in becoming better strategic partners with Pharma and Biotech companies.

Figure: 3How to Create Successful Sourcing Partnerships?

How to Create Successful Sourcing Partnerships

Increase your speed of business with unified processes and predictive analytics

The speed of doing business is increasing. As companies seek to stay competitive, they must rely on technology to provide agility and the capabilities needed to excel. However, many organizations are still running on ERP systems that are complex, inflexible and impede their ability to innovate and grow.

Microsoft Dynamics 365 helps you to

  • Elevate your company’s financial performance and streamline its supply chain management
  • Innovate with connected operations in an extensible platform
  • Drive HR operational excellence through organizational agility and centralized data
  • Unify the processes listed above with predictive analytics and intelligence
  • Track and trace inventory management
  • End-to-end customer project management

Key Takeaways

CROs are transforming from time-bound project management consultants into performance and results-oriented firms.

  • As technology evolves, so do project management tools. CROs are equipping themselves with these tools for better time management, budget management and risk mitigation.
  • Technology allowing smoother customer and supplier onboarding for clinical trials is needed today.
  • Pharmaceutical companies are looking for CROs to manage R&D projects end-to-end while providing innovative solutions.
  • While time management and cost management will always be top priorities for CROs in any project, they must also offer greater returns to their clients.

About XcelPros

XcelPros is a Chicago-based company delivering transformation through technology. We offer business and technology solutions with deep industry experience in Chemical, Pharma, Life Sciences (including Medical Devices, Bio-Medical & Biotech), Insurance, Discrete Manufacturing, Process Manufacturing, Distribution and Food & Beverage.

XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

Contact XcelPros today to transform your business.

Call us toll-free – 1.855.411.0585 (or) visit https://xcelpros.com/

How Modern Digital Tools Can Help Transform Biotech companies
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How Modern Digital Tools Are Transforming The Biotech Industry
How Modern Digital Tools Are Transforming The Biotech Industry 700 500 Xcelpros Team

How Modern Digital Tools Are Transforming The Biotech Industry

Every day we’re seeing major technological changes impacting the biotech industry. Today’s leading companies are leveraging modern biotech tools to help their businesses grow. See how emerging and evolving computer technologies such as AI, when combined with enterprise business applications, are helping biotech companies work faster with lower costs. For more information see the full article here.

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Challenges of biotechnology to resolve banner
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Challenges of Biotechnology to Resolve in 2021
Challenges of Biotechnology to Resolve in 2021 700 500 Xcelpros Team

Introduction

With the new strains and mutants of the COVID-19 virus being reported from countries all across the globe, the biotechnology industry is facing immense pressure to churn out the right vaccinations and provide effective medical assistance. While the industry had been booming exponentially before the pandemic, new challenges arise as they move to the ‘new-normal’. Here are the top biotechnology industry challenges to solve in 2021

Need help overcoming these biotech challenges? Book a free consultation!

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About XcelPros

XcelPros is a Chicago-based company delivering transformation through technology. We offer business and technology solutions with deep industry experience in Chemical, Pharma, Life Sciences (including Medical Devices, Bio-Medical & Biotech), Insurance, Discrete Manufacturing, Process Manufacturing, Distribution and Food & Beverage.

XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

Contact XcelPros today to transform your business.

Call us toll-free – 1.855.411.0585 (or) visit https://xcelpros.com/

How Modern Digital Tools Can Help Transform Biotech companies
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How Modern Digital Tools Can Help Transform Biotech companies
How Modern Digital Tools Can Help Transform Biotech companies 700 500 Xcelpros Team

At a Glance

Technological changes are impacting the biotech business sector now and in the future. New-age companies are leveraging modern biotech tools to aid business productivity and growth. Some of the key aspects involved in transforming the biotech sector are:

  • Machine learning, artificial intelligence (AI), cloud computing and ERP systems residing on a unified platform.
  • The combination of these technologies is reducing the time it takes to create and produce diagnostic procedures and medicines.
  • The impacts of these technologies on operational excellence is reducing failure rates and permitting the production of therapies tailored to specific patients.

A Short History of Vaccines

According to The History of Vaccines, the first polio epidemic struck the U.S. in 1894. The poliovirus wasn’t identified until 1908. Jonas Salk’s first vaccine tests started in 1952. Polio wasn’t declared eliminated from the Americas until 1994.

Using modern biotechnology, Operation Warp Speed was announced on March 30, 2020. Moderna published its initial Phase I/II trial data on July 14, 2020, followed by Pfizer on Aug. 12. The previous record for vaccine development was four years for mumps, a BioSpace article states.

Machine learning, artificial intelligence (AI), cloud computing and other next-generation computing tools are among the changes expected to have a big impact on the biotechnology manufacturing processes now and into the future.

How will improvements in computing technology impact the biotech sector? By reducing the time it takes to bring new products such as medicines and testing methods to market, an article on Northeastern University’s Graduate Programs Blog states.

The advent of other digital tools such as Industrial Internet of Things (IIoT) means sensors on various biotech production devices are now measuring and adjusting the rate of chemical flows, temperatures and other variables previously monitored by people.

“Robot scientists using AI can test more compounds and do so with improved accuracy and reproducibility and exhaustive, searchable recordkeeping,” Steve Oliver, a systems biologist with the University of Cambridge said in a Nature article.

Using AI, scientists can create and analyze large quantities of outcome data, highlighting differences between healthy cells and those damaged by diseases such as cancer. “We are turning the drug-discovery paradigm upside down by using patient-driven biology and data to derive more-predictive hypotheses, rather than the traditional trial-and-error approach,” Niven Narain, co-founder of Berg, a biotech firm near Boston, said in the Nature article.

The bottom line of using AI and machine learning is improving biotech firms’ profits by dropping the failure rate from its current 90 percent and reducing the cost of developing new drugs.

Cloud computing and virtual meetings permit sharing information and making informed decisions. In terms of analyzing data, the physical location of a scientist, manager or worker is no longer a barrier to their contributions to a biotech effort. Online collaboration also allows smaller firms to share information and gather insights from academic organizations and government research organizations, permitting access to many more stakeholders, the Northeastern article states.

The strength of a company surfaces when all of these different applications work together through seamless integration with an ERP platform, without creating security threats or data integrity issues.

Tech and Clinical Trials

As clinical trials migrate to better service levels for all patients, clinical trials become more about converting data into actionable intelligence, Michael Kleppinger of Syneos Health said in an XTalks article.

Other biotech leaders stated that clinical trials are now using master protocols, basket design and adaptive trial design, all of which require computing power to make it work. This includes virtual trials that expand the potential patient population, Ken Light of OmniComm Systems told XTalks.

“If you think about it, if you’re only getting partial data, be it from a CRO (contract research organization) or EDC (electronic data capture) system or CTMS (clinical trial management system) or your financial systems or wherever that data is housed and sitting, how are you able to make informed decisions on partial data? In my mind, it’s like trying to throw darts with a blindfold on,” Joe Erline of Saama Technologies told XTalks.

Modern Enterprise Resource Planning (ERP) systems combine data from departments such as purchasing, inventory and finance. The software allows chief financial officers and other top executives to make better decisions by seeing a larger picture using multiple data streams.

Non-traditional data sources are also broadening access to some data types

Among the recent products cited are internet-connectable smart watches including Apple iWatches ™ and Fitbit ™ exercise trackers, all of which obtain and record physiological data. Running the data through machine learning algorithms allows top executives to predict how well certain therapy molecules will work and determine the molecules’ toxicity and treatment effectiveness, all much faster and more economically than in the past.

Figure: 1 Medicine at FDA: The Scope & Significance of Progress in 2020

Medicine at FDA: The Scope & Significance of Progress in 2020

Tech and Personalized Treatment

One area directly benefiting from computer advancements is the cost of personalized genetic testing to consumers. These tests are now down to the range of $100 -$2,000 depending on the nature and complexity of the test, MedlinePlus states. For comparison, the 1990’s Human Genome Project cost $2.7 billion.

In terms of biotechnology companies, this major price reduction means personalized treatment plans are now realistic options. Using drugs based on a specific patient’s genetic and molecular makeup, the theory is these individualized medicines should be more effective at treating that patient than a more broad-spectrum drug, a different XTalks article states.

More than one-third of all new drugs approved in 2020 were personalized. This was the third time in the last four years this approval level was reached, the Personalized Medicine Coalition quoted in PR Newswire.

In 2020 alone, the Food and Drug Administration (FDA) approved 19 personalized therapies, one cell-based immunotherapy and eight diagnostic applications the agency’s Personalized Medicine at FDA: Scope and Significance of Progress in 2020 states. One of them was the first chimeric antigen receptor (CAR) T-cell-based immunotherapy for treating patients with refractory mantle cell lymphoma. This method holds promise for better cancer care.

The FDA also released seven guideline documents related to the manufacturing and clinical development of gene and cell-based therapy products. Another highlight of the 2020 report was the approval of a pan-tumor liquid biopsy next-generation sequencing-based test as a companion diagnostic device for multiple biomarkers in cell-free DNA isolated from plasma specimens. The method permits testing without using more invasive methods in some patients.

Updated Biotech Can Boost Food Production

Variations of the same general gene-editing tools of biotechnology used to develop therapies for treating humans can also be used to create more robust crops. Among highlights cited in a 2020 Businesswire review of the “Agricultural Biotechnology: Emerging Technologies and Global Markets” report is that DNA sequencing, RNA interference, synthetic biology tools and gene editing will all have an impact on growing that market through 2024 and likely beyond.

The effect will be the ability to provide higher yields with equal nutritional value for humans and livestock in smaller spaces. At the same time, improved biotech methods applied to agriculture will permit growing crops in harsher climates than those currently farmed.

The Bottom Line

Emerging and evolving computer technologies such as AI, when combined with enterprise business applications, are helping biotech companies work faster, creating new products in less time and with dramatically lower costs, than ever before.

Leverage the power of digital tools to stay on par with the competition. Start your digital transformation!

Register Now

About XcelPros

XcelPros is a Chicago-based company delivering transformation through technology. We offer business and technology solutions with deep industry experience in Chemical, Pharma, Life Sciences (including Medical Devices, Bio-Medical & Biotech), Insurance, Discrete Manufacturing, Process Manufacturing, Distribution and Food & Beverage.

XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

Contact XcelPros today to transform your business.

Call us toll-free – 1.855.411.0585 (or) visit https://xcelpros.com/

Importance of Data in Pharma Product Development
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Importance of Data & Analytics in Pharmaceutical Product Development
Importance of Data & Analytics in Pharmaceutical Product Development 700 500 Xcelpros Team

Introduction

Research and development (R&D) has always been the backbone of the pharmaceutical industry. In 2001, there were 1,198 pharmaceutical companies with active R&D pipelines. And in 2020, this figure spiked to 4,800. Due to the COVID-19 pandemic, companies have doubled their efforts in creating new products. In fact, more than 17,700 drugs were recorded in the global R&D pipeline in 2020—and a lot of them made headlines.

The world got a glimpse of how complex and costly it is to create new drugs. Moreover, that also sparked an unprecedented wave of data sharing and access not just in the healthcare and pharmaceutical industries. But in the IT sector as well. In fact, 96% of all companies will have hired a data specialist by 2022, according to “The Future of Jobs Report” by the World Economic Forum. This is why there has already been a huge uptick in the number of professionals pursuing data analytics careers, with worldwide big data revenue already predicted to have passed $203 billion.

In the pharmaceutical industry, multiple organizations came together to share and exchange data: Google Cloud provided researchers free access to critical information through its COVID-19 Public Dataset Program, and Rensselaer Polytechnic Institute offered government entities. And researchers access to innovative AI tools and experts in data and public health.

Figure: 1Role of Data in Pharmaceutical Product Development

Never before has data been so readily accessible and this has helped speed up the R&D efforts of many companies. In addition, data also helps the pharmaceutical products development in many other ways:

Improves research efficiency

Several companies were able to develop a COVID-19 vaccine in under a year—a record time—currently making it the fastest vaccine to ever be developed. It helped that pertinent data and information were exchanged freely between pharmaceutical companies, government agencies, and data analytics organizations.

Free-flowing data sharing, as seen during the pandemic response, makes the development of drugs easier as it cuts down several steps in the R&D process. And with the available information, researchers have a better understanding of the recipients of the product. This makes it possible for trials to acquire smaller sample sizes with higher accuracy, lower expenses, and in less time.

Creates precision medicine

Precision medicine is an approach to patient care that allows doctors to create diagnoses and treatments based on data on genetic make-up, environmental factors, and behavioral patterns. This approach allows companies to create personalized medicine for individuals’ genes and lifestyles. This data-driven approach also helps drug makers identify patients’ susceptibility to certain disorders, enhancing disorder detection. Since precision medicine has a higher probability of success compared to more conventional approaches, it also reduces trial costs.

One such example is Pfizer’s Xalkori (crizotinib), which they produced after combing through data from electronic medical records, clinical trials, and genomic data. They found that a small subset of lung cancer patients had a mutation in their ALK gene. And using this insight, they developed a personalized drug. “Had this compound been tested against a broad spectrum of lung cancer patients, it likely would not have been found to be effective. With this analytics-based approach, it was found to be very effective,” says Pfizer CIO Jeff Keisling.

Provides real-time analysis

It’s now possible to access real-time information—a feature that greatly benefits trials. With this, it’s easier to respond to issues in a timely manner, and create more accurate safety measures for trial participants, all leading to higher success rates from the R&D standpoint. Additionally, data can now be collected from real-world information such as health records, insurance claims, and even social media. This provides drug makers with evidence on how medicines work in an uncontrolled setting and across a wider demographic. This lets them make adjustments and improvements to the drugs.

Major pharmaceutical companies now have dedicated teams collecting data from studies and trials across different diseases. Their analysis of this information helps them formulate their drugs to be more potent and effective while combating the rising costs of traditional clinical trials and parallel development programs.

30%

of life science organizations will have achieved data excellence, or the concept of effectively using the right data at the right time, by 2022.

Source: IDC Health Insights prediction

Simplify production plans

After developing a product, it needs to be mass-produced and distributed. You need to know the appropriate targets for the best ROI. With the right data, companies are able to create a more solid production plan, reduce labor costs, eliminate waste, decrease the need for excessive inventories, and optimize equipment usage. This ease of production will only increase in the future both within the healthcare industry and companies connected to it. And with the pharmaceutical industry predicted to grow to $1.57 trillion in value, the role of data in streaming lining production processes will only increase.

Smoother supply chains

50%

of pharmaceutical and biotech companies will be using prescriptive data analytics with IoT data to optimize their supply chain.

Source: Worldwide Health Industry 2020 Predictions report

Today’s pharma companies are breaking away from traditional practices and are embracing digital transformation and pharmaceutical data analysis on a much bigger scale. This move allows them to understand and cater to the needs of both their customers and stakeholders. As we mentioned in our previous write-up on the ways to enhance customer experience. Using data analytics, you can improve your supply chain efficiency by easily validating data, detecting anomalies, benchmarking operations, and accessing mobile and logistic reports.

Moreover, data analytics for pharma development offers real-time route optimization and improved inventory management, freeing up man-hours which otherwise would’ve been spent tracking and monitoring business operations.

The use of data in developing pharmaceutical products is very beneficial. It helps prevent health issues and strengthen the patient care sector.

Article specially written for xcelpros.com By Nina Ross

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XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

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Biotech Industry Challenges and their Technology-Powered Solutions
Biotech Industry Challenges and their Technology-Powered Solutions 700 500 Xcelpros Team

At a Glance

  • In the biotechnology and life sciences industry, the product’s end quality depends on the product lifecycle management process. It is essential to optimize and streamline these processes while making automation an irreplaceable component.
  • Apart from the need to expedite adaption of modern-day technology across the board, the biotech industry also evaluates tools that ranks high on ROI.
  • The ongoing Covid-19 pandemic has put the biotech industry at the front and center in terms of the need for faster tests and development of a vaccine and/ or therapeutics. This unprecedented set of events has brought forward even more pressing challenges in biotechnology manufacturing.

The biotech industry is synonymous with cutting-edge research for drugs, better health products, and more. This means the industry needs to evaluate itself for its technological quotient continually. The evaluation will also enable biotech and life sciences companies to know their exact challenges and pain areas. If we look at recent times (past decade), one of the prominent areas that require companies and researchers’ attention is biotechnology manufacturing. While the industry itself is projected to thrive, it is not devoid of some pressing issues that need to be addressed with robust IT reframing.

The global biotechnology industry growth is estimated to reach $727.1 billion by 2025, and at a CAGR of 7.4%.– Grand View Research

These numbers are both exciting and intimidating. Now is the time for the biotechnology sector to invest in fortifying their IT infrastructure to overcome their challenges and stand tall in the coming era of growth in demand.

Let us dive deep into the biotech sector’s five major problems in biotechnology and discuss technologies, tools, and systems to enable manufacturers to overcome these issues.

1.Challenges Pertaining to Funding/ Investments:Yes, the challenges faced by the biotechnology industry begin even before scientists step inside the lab! Venture capitalists are highly cautious in investing in biotech firms. Part of the reason is that the biotech/ life sciences/ pharmaceutical industries are slow-moving industries tied with many regulations. There is a fine line between drug/process acceptance and rejection. Another challenge in this area is the lack of a proper channel that can facilitate precise tracking of funds and generate insightful reports to make investors aware of the money spent. Lack of analytical insights also means that the current or potential investors do not get future predictions, which are readily available in other industries such as software and automobile.

How can Technology Answer These Challenges? Biotechnology companies should look into comprehensive Enterprise Resource Planning (ERP) systems that will enable them to track expenses and tie them back to their funding. An advanced ERP system equipped with advanced analytics features can help leverage data to generate insightful predictions and statistics.

2.Lack of Skillset:Across the board, there is a drying of talent pool for biotech experts who are adept in core subjects and technological applications. This creates a hindrance in quality production. Companies often struggle to keep their employees up-to-date with the latest happenings in the biotech industry. Personnel on the ground are not always aware of the industry trends as they are busy moving the day-to-day processes forward. Also, arranging skill upgrade training is a costly and time-consuming affair. However, the skill gap is a significant issue. Experts stress the perils of obsolete skillset and the importance of recruiting and retaining a highly-skilled workforce in biotech companies.

What Technological Solutions help Overcome Skill Gap?First off, it is crucial to choose agile, easy to use, simple to onboard applications to run everyday operations without losing the ability to capture the power of data. You don’t want to compromise the system in the effort of keeping it simple. Secondly, there are various learning and development platforms available that include individual training tools for employees. The ideal ones are embedded into the ERP system that behaves as a task recording guide. These automated platforms enable ease of access and ensure training completion without the need for individualized supervision.

3.Disconnect with Customer Expectation and Lack of Market Reading:Like any other industry, the biotech industry also faces challenges if there is a disconnect with its customers. Many companies also rely on conventional methods to read the market and gauge demands. Often there is a disconnect in the market demands vs. the in-house standards. However, this type of disconnect leads to poor customer satisfaction and misplaced product placements.

What Role Does Software Play in Establishing Better Customer Relations?A newer, more advanced AI-based customer relationship management (CRM) system tied to an operations system or ERP system can enable biotech firms to enhance their customer outreach and expedite response time. Moreover, CRM is also used to make better market predictions through thorough data analysis and trend studies.

4.Non-streamlined Supply Chains:A companies’ output is only as strong as its input – primarily people, process and software. This is also true in the case of maintaining a robust supply chain network. The Covid-19 pandemic saw disrupted supply chains because of grounded airlines and travel restrictions across various countries globally. There was also a major shift in demand of raw material, resulting in chain reaction of changes across supply chains. Such events need an agile, streamlined and optimized supply chain wherein different departments work in tandem and information is cascaded in real-time.

Figure 1:Leveraging the power of Data Science in Biotech

How can Biotech Companies Make Use of the Latest Technologies to streamline supply chain?The answer is an agile cloud-based ERP platform that includes the following feature set –

  • proactive planning and tracking workforce hours to a project.
  • providing supply-demand signals while procuring raw material and shipping samples.
  • process automation and approval workflows.
  • embedded training portals.
  • increased process visibility and data management.
  • real-time collaboration across various suppliers.

A robust application helps in better inventory management, communication and an overall optimized supply chain that can respond well to changes. The primary emphasis should be on moving towards newer systems and gradually letting go of legacy software. This will help the biotech industry leverage the full benefit of Industry 4.0 and make the most of its potential.

Key Takeaways:

  • Biotech companies need to rethink operations as a technology-powered ecosystem to expedite their process and ensure products are ready for quicker commercialization.
  • Modern-day AI-based ERP, SCM and CRM systems are crucial in enabling the biotech sector to become agile and more responsive.

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XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

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Key Applications of Data Science in the Biotechnology Industry
Key Applications of Data Science in the Biotechnology Industry 700 500 Xcelpros Team

At a Glance

  • Genomics is an intricate facet of biotechnology that requires storing and analyzing humongous amounts of data. Cutting-edge data science trends have brought a transformation in the way genomics is studied worldwide.
  • Biotechnology deals with the extraction, reaction and manipulation of molecules in living beings. These processes will expedite safely and systematically with the help of the advancements in data science.
  • Every day, there is a humongous amount of data generated by various private and government-funded biotech firms. Data science is crucial in establishing interconnectivity amongst these biotechnology entities to share the knowledge database.
  • Companies are faced with newer variants of diseases every few years and this requires gene sequencing of microorganisms at a much faster rate to help in drug and vaccine development. Newer technologies developed in the field of data science can be pivotal to help with the endeavor.

Industries have advanced with the knowledge and application of biotechnology. From facilitating clinical trials of drugs and vaccines to genetic alterations in crops for better yield, biotechnology has been crucial in transforming the way we live our lives. Now, how does biotechnology cross paths with data science? The answer to this question is multi-layered. The last decade has seen unprecedented advancements in the way data has been leveraged, stored, analyzed, shared and applied to derive statistics, build forecast models and solve the mysteries of science. Data science is emerging in biotechnology with the tools and techniques that help scientists systematize their findings and expedite their experiments for better and safer results. Data science is the crucial bridge between knowledge and information. The application of data science is rapidly moving from simply analyzing the existing information to deriving solutions for the future.

By 2021, 66% of analytics processes will no longer simply discover what happened and why; they will also prescribe what should be done.– Ventana Research Assertions

With data science becoming an integral part of how businesses operate, biotechnologists and related industries need to understand its emergence and crucial role. By understanding the applications of data-related tools and techniques, biotechnology can experience positive growth at a much faster rate. Let us look at some of the emerging pivotal data science applications in biotechnology.

1.Field of Advanced Medicinal Development: The field of modern medicine has gained momentum in terms of R&D with data science in biomedical research. Computerized medical records, big data to arrive at plausible diagnoses, automated medicinal kits, genetic coding, computerized molecular studies for drug and vaccine development, etc., are the technological boons of data science that have made it possible for companies to make unprecedented advancements in the field of medicine.

2.Developments in the Field of Agriculture:Scientists across the globe tout the systematic use of algorithms, computerized statistics and data analysis capabilities to advance the genetic studies of various crops. This has made it possible for them to experiment on the plants at a molecular level in the lab to shortlist the best yield. This saves time, effort and money while giving the best results with the combination of botanists, biotechnologists and data scientists. Apart from scientists, data science is also useful for farmers. Many mobile applications are being developed for the farmers to study best practices to grow crops, compare the prices and availability of seeds, fertilizers, and other farming essentials in their locality and get expert advice online. The data generated and leveraged in these apps can join together to create a library of references for the large farming community.

3.Mitigating the Damage to the Environment:Biotechnology is genuinely a way of giving back to nature by modifying existing systems and deriving new ones to minimize environmental damages. Now, one might ask what role data science can play in establishing ecological sustainability. Well, data is at the core of knowing the problem areas- factories with concerning amounts of emissions, agricultural sites that are in dire need of water conservation, landfills with immense amounts of non-degradable waste, etc. With the help of computerized tools, this data can be collected, stored and categorized to implement solutions. The solutions and best practices can also be shared via data science tools with other such areas, thus creating a chain of positive environmental practices.

Figure 1:Leveraging the power of Data Science in Biotech

The areas discussed above are prime examples of how data science applications are emerging in the biotechnology industry. Experts worldwide are working hard towards coming up with newer tools, techniques and solutions with which data can change the way biotechnology research is performed and results are derived. The coming decade will be vital in changing the way we apply data-driven analysis and solutions to bring about positive transformation in biotechnology and its related fields.

Key Takeaways

  • Data science has moved on from merely becoming an analytical field to becoming a supportive pillar for reasoning and research in the biotechnology industry.
  • Leveraging data with the latest tools and techniques is helping bio technicians in expediting research and development processes while mitigating manual errors.
  • Biotechnology applications in medicine, agriculture, environment and more such fields have transformed with the help of advancements in data science.
  • While data science is emerging in biotechnology, there are still many milestones to be achieved to unleash its unlimited potential.

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XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

Contact XcelPros today to transform your business.

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Artificial Intelligence in the Biotechnology – 5 Key Trends
Artificial Intelligence in the Biotechnology – 5 Key Trends 700 500 Xcelpros Team

At a Glance

  • The biotech industry is witnessing unprecedented demand on many fronts. Companies are looking to invest in fast-paced innovation, systematic storage of massive research data, analysis of humongous databases, and meticulous management of the business processes. AI-enabled applications play a crucial role in meeting these demands.
  • Machine learning, robotics, informatics, and AI branches can help in expanding the horizons of the biotechnology industry and move towards newer possibilities.

AI-led Transformation of the Biotech Industry and Its Positive Effects

The Biotechnology industry is currently relying heavily on storage, filtration, analysis, and the exchange of data. Massive databases are maintained by biotechnology companies and various health organizations worldwide. Drug manufacturing, chemical analysis of different compounds, sequencing of RNA and DNA, enzyme studies, and other similar biological processes require the strong support of computerized tools and applications to gain pace and reduce manual errors.

Today, the world is witnessing an unprecedented health emergency in terms of the Coronavirus pandemic. Economies are collapsing, countries are under lockdown, and all hopes are pinned on the biotechnology industry to come up with a safe, effective vaccine in the shortest possible time frame. The use of Artificial Intelligence in biotechnology and related applications play a crucial role in managing biological processes, boosting medicine production, handling supply chains, and taking care of the pool of data for this industry.

Increased and better predictability for both structured and unstructured data helps companies in planning their operations accordingly for enhanced productivity and a faster pace of work.

Figure 1Applications of Artificial Intelligence in Different Fields of Biotechnology

Leading biotech companies are investing in advanced AI tools to:

  • Analyze research data
  • Accelerate vaccine development
  • Classify the target market and demographic
  • Identify the right ingredient to produce the vaccine

86%of current or planned AI spending is in customer-oriented areas, with marketing and sales leading the pack

 

$1.2 TNestimated additional revenue/ shifting revenue driven by AI in three years

 

While there are still many unknowns when it comes to a successful coronavirus vaccine, this US biotech firm has applied artificial intelligence to accelerate the process of vaccine development.

The biotechnology sector will leverage artificial intelligence and its related applications with vigor in the coming years. According to an article for Medium by Melanie Matheu, Ph.D., the next generation of therapeutics entering drug pipelines will contain targets selected by AI screening, likely improving the 86% clinical trial failure rates for small molecules.

The biotechnology industry has various sub-sectors ranging from human life sciences, food industry, agricultural biotechnology, animal biotechnology, and industrial applications. These branches can all leverage the advancements seen in artificial intelligence and machine learning related applications developed in the past decade, including five key AI trends that will transform the biotechnology industry, listed below.

The Application of AI is Shifting More Towards Knowledge Workers

79%agree AI and related technologies are having a transformational impact on workflows and tools for knowledge workers

 

80% say that placing powerful AI-fueled application in the hands of knowledge workers is critical to productivity and performance

 

84% agree AI streamlines processes, freeing knowledge workers for move creative, intuitive and laterally thinking activities

 

Source: Microsoft

01Boosting Innovations: From Lab to the Market

The past decade has witnessed the need for fast-tracked innovation, production and deployment of medicines, industrial chemicals, food-grade chemicals, and other biochemistry-related raw material. AI in Biotech plays a crucial role in boosting innovation not only in the laboratories but also throughout the lifecycle of a medicine or chemical compound (right to the point where it reaches the market). Based on the target market, AI-based tools and applications help in developing the structure of molecules. Machine learning, a subset of artificial intelligence, helps in calculating permutations and combinations of various chemicals to know the right combination, without having to perform the experiments in the lab through manual processes. The use of artificial intelligence in biotechnology is bringing innovations that can help in predictive analysis to forecast the demand for a particular medicine or a chemical in the market. AI in Biotech can also help in managing the smart distribution of the raw material required by the biotechnology industry through the use of cloud computing.

Figure 2Functionalities of AI in Biotech Industry

02Open Source AI Platforms: Faster Data Analysis

Scientists across the globe are looking at AI programs that can take over the tedious nature of data maintenance and data analysis. Tasks like gene editing, enzyme compositions, chemical studies, and such crucial informatics are analyzed systematically for faster and more accurate results. Open-source AI programs such as CRISPR libraries and H2O.ai are playing an essential role on this front by relieving lab assistants of repetitive tasks like data entries and analysis. By eliminating manual functions for healthcare providers and scientists, they can better focus their efforts on innovation-driven processes and it will be possible with the use of artificial intelligence in biotechnology.

03Pushing the Boundaries of Agricultural Biotechnology: Increasing Quality and Quantity

Biotechnology plays a crucial role in genetically modifying plants to develop more and better crops. AI-based tools become essential to this process of genetic modification to study the features of the crop, to note down and compare qualities, and to forecast plausible yield. Apart from these tools, robotics, an arm of artificial intelligence, is being used by the agricultural biotechnology industry for packaging, harvesting, and other essential tasks. AI in biotech also helps in planning the upcoming patterns in the movement of material by combining weather forecasts, data on the nature of farmlands, and the availability of seeds, manure, and pesticides.

04Discovery of New Drugs and Vaccines: Shrinking the Timeline

In a globalized world, newer diseases have a fast way to spread across continents. Thus, the biotechnology industry is at a race against time to develop newer drugs and vaccines to be able to contain such diseases. Artificial intelligence and machine learning are vital in speeding up the process of recognizing the right molecules, helping in synthesizing them in the labs, data analysis for efficacy, and it supplies to the market. Operations, which would usually take 5-10 years, have now been shrunk to 2-3 years with the use of artificial intelligence in biotechnology.

Figure 3Subsets of Artificial Intelligence in Biotechnology

05Facilitating Global Connect: Sharing Biotechnology Developments Worldwide

AI platforms are resourceful in letting scientists across the globe have access to imperial data regarding newer medicines and other industrial developments. Many machine learning tools are assisting scientists in decoding data and understanding patterns of a particular disease in a far-away country and utilizing it to build analytical models for their geography. The accuracy of scientific models has increased by several folds, after the introduction of AI in Biotech.

While these are the key trends, AI and related tools are helping in transforming the biotechnology industry in many ways. Coming times will see the use of artificial intelligence in biotechnology for the betterment of humankind by the progress it facilitates in the fields of biosciences and technologies.

The power of integration of Microsoft’s AI with Microsoft Dynamics 365 helps biotech companies get over the industry’s pressing challenges. Hindrances such as resource management, stringent regulations, quality management, etc., and establishes seamless workflow by ensuring unified data sharing, visibility, and connectivity across diverse channels and operations so that teams better communicate.

This collaboration with the use of artificial intelligence in biotechnology helps your company to

  • Achieve regulatory compliance
  • Gain visibility into your supply chain management
  • Track and control your inventory with accuracy, and
  • Integrate industry best practices for corrective and preventive action

Finally, the digital transformation achieved with the Full Microsoft Suite gives you data in real-time to make smart and actionable business decisions to spur company growth.

Key Takeaways

  • The biotechnology industry has progressed significantly with the application of AI and related computerized tools.
  • Be it medical, industrial or agricultural biotechnology, AI, machine learning, and robotics play critical roles in pushing the boundaries of possibilities in these fields.

Using our years of industry experience in the biotech, life sciences, and pharmaceutical industries, we suggest and help our customers with the best ways to reduce costs and mitigate implementation risks. We work with you throughout the implementation, so that you can quickly identify, address, and record any production, shipping or quality control risks, events, and complaints. A personalized, flexible D365 dashboard equips your teams to trigger a hold on products throughout the supply chain autonomously, launch nonconformance reports, send notifications to managers when test results hit a certain threshold or when a specific research milestone deadline is compromised.

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XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

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Top Concerns of Biotechnology Industry Current Issues
Top Concerns of Biotechnology Industry Current Issues 700 500 Xcelpros Team

At a Glance

  • The world has turned its hopes towards biotech companies to reduce the spread and impact of the Covid-19 pandemic.
  • The biotech industry is working continuously towards fortifying healthcare systems, enabling serosurveillance to gauge the spread of disease in a community and to aid in the development of a vaccine.
  • With governments across the globe funding research and production costs to enable biotech companies to win this battle against time, there are various operational, technological, and workforce concerns that these companies face that need to be addressed with strategic maneuvering from the apex.

Introduction

The Biotech and Life Sciences industry is one of the most sought after sectors this year in conjunction with the pharmaceutical industry as a solution to the current Covid-19 pandemic. Health experts across the globe have agreed that highly effective treatments, including the development of a vaccine, would be needed to reduce and eventually stop the spread of novel coronavirus, allowing cultures around the world to get back to normal activity. While some countries have fared better than others in handling the Covid-19 health crisis, there are still looming fears of new waves. Current Biotechnology issues are expected to normalize with an effective antidote or vaccine.

While the biotech industry sprung into action to begin developing a solution almost immediately, there’s still a long way to go. Challenges faced by biotechnology have been as real as the crisis itself. While the biotech and life sciences industry has a primary role in addressing pandemics like that of COVID-19, it’s not immune to economic downturns, supply chain disruptions, workforce shortage, or any other challenges.

Below are some of the pain points that the Biotech and Life Sciences industry are facing:

01.Roadblocks and Hurdles

All over the world, various biopharma companies, both privately and through government-funded efforts, are performing clinical trials for different potential vaccines and drugs. In 63 days after the genome sequence of the novel coronavirus was shared with the world, USA’s Moderna Biotech Inc. had developed its mRNA candidate to battle the pandemic. Being able to move at a pace never seen before requires immense talent, robust AI-enabled software setup to perform bioinformatics processes, and exceptional R&D infrastructure.

The journey from vaccine development to approval and administration on a global scale is wrought with numerous additional steps and hurdles, requiring mobilization of assets and task forces, recruitment of volunteers, conducting clinical trials, collation, and analysis of humongous amounts of data, smoothly operating supply chains, enormous monetary investments, and a well-equipped production and distribution infrastructure.

02.Collateral Delays

The spread of the coronavirus pandemic brought most of the world to a screeching halt, with many businesses having been forced to close. A result of this is disruptions to major clinical trials and research work on medicines and vaccines for other life-threatening diseases like cancer, HIV, autoimmune diseases, etc. These are collateral delays, and the biotech industry is now challenged with not ignoring existing health issues while still focusing on developing a solution for the ongoing pandemic.

03.Global Distribution

Health experts and top executives at significant biotech companies agree that even if we succeed in making an effective vaccine for Covid-19, there would be a need for immense strategic and operational changes in the current global and local supply chains to ensure that it’s produced and distributed to everyone around the world. With disruptions to most supply chains, only adding to challenges faced by the Biotechnology industry, it will be interesting to see how these organizations address these issues.

Figure 1Covid-19 Vaccine Development in Phases: The Role of Biotech and Pharma

04.ROI

A global health crisis of this scale requires a humanitarian approach to ensuring treatment is available to all. This is why most pharmaceutical and biotech companies have agreed that the first or even second batches of any drugs or vaccines they produce(should they prove to be valid) will be distributed at non-profitable rates. We shouldn’t, however, neglect the current biotechnology issues who are investing millions of dollars in rising to the occasion. These organizations will need a blueprint for steady business growth and monetary returns in the post-COVID era.

05.Remote Solutions

Now more than ever, biotech companies need highly skilled and experienced scientists, health experts, and paramedical personnel who can make this journey towards vaccine development smooth. With most businesses still not fully operational to support new workplace requirements, more remote access solutions will have to be developed and embraced to keep operations moving forward.

Role of Microsoft Dynamics 365 Supply Chain in Biotech Companies

We have spoken about some ongoing challenges faced by the biotechnology industry in the war against Covid-19. It is important to note that current biotechnology issues are handled with strategic realignment and robust Enterprise Resource Planning tools. An ERP system such as Microsoft Dynamics 365 Supply Chain enables biotech companies of all sizes to optimize their supply chains, mitigate costs on manual labor, avoid redundant efforts, automate billing cycles, and other enterprise-level processes.

Key Takeaways

These are challenging times for organizations in the Biotech and Life Sciences industry. They now, more than any other sector, continue to work at unprecedented speeds to help the world end this global crisis. Billions of lives are at stake, waiting anxiously for a solution to the ongoing pandemic. There are many challenges that the biotech sector needs to address from disrupted supply chains to the need for multi-layered coordination for clinical trials. With strategic intervention by strong leadership and the use of modern robust tools, these challenges and more, can all be overcome.

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About XcelPros

XcelPros is a Chicago-based company delivering transformation through technology. We offer business and technology solutions with deep industry experience in Chemical, Pharma, Life Sciences (including Medical Devices, Bio-Medical & Biotech), Insurance, Discrete Manufacturing, Process Manufacturing, Distribution and Food & Beverage.

XcelPros is a Microsoft Gold Partner, Direct Cloud Solutions Provider (CSP) and a Systems Integrator (SI) offering software licensing, implementation and consulting services for Microsoft Dynamics 365, CRM, Microsoft Dynamics AX, Business Intelligence & Analytics (Power BI), SharePoint, Office 365 and Azure (Cloud, IOT, Microsoft Flow amongst many others).

Our mission is to provide integrated technology solutions that amplify impact and empower our customer’s businesses. We believe technology is the key enabler of exponential growth for us and our customers.

Contact XcelPros today to transform your business.

Call us toll-free – 1.855.411.0585 (or) visit https://xcelpros.com/

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