Article | June 17, 2013

Resourceful Resourcing: Consolidate Your Technology Providers

Source: TransPerfect
Michael Smyth

The tenets of clinical development for the modern life sciences industry have been unchanged for decades: we are in pursuit of developing products faster and more cost effectively while retaining efficacious, high quality data with a watchful eye on patient safety. Accomplishing this is the first objective; endeavoring to do it better than the competition is the ongoing challenge. Factoring in the constraints of a changing corporate landscape – mergers and acquisitions, downsizing or reorganizing to meet investor expectations – and a harsher regulatory environment, our industry has been forced to become more strategic and cost conscious in order to meet its goals. One strategy that has proven effective is leveraging technology innovation to streamline the very costly phases of clinical development. Companies that embrace this dynamic approach to technology resourcing will continue to emerge as leaders.

Our industry’s approach to resourcing, in particular technology resourcing, has evolved based on how we define and realize efficiencies. Clinical development executives are tasked with developing a best-fit strategy for the organization based on evaluation of internal vs. external resources. To date, we have experienced two technology outsourcing models: