[Blog] Cloud Technology in 2021: Benefits of SaaS services in heavily regulated industries
Benefits of SaaS services in heavily regulated industries like pharma
Cloud technology computing is no more a buzzword. It is used mostly for digital services and software. Especially where the IT infrastructure must always be available and accessible. It is not a secret that companies within the B2B sector have already started reaping the benefit of cloud servers and cloud storage. Cloud technology ensures the necessary infrastructure (technical and business) in the cloud. It is considered the best option for small or medium-scale companies.
According to Gartner’s statistical reports:
By 2020, 83% of the companies will be using cloud platforms. 41% of these companies will prefer to use public cloud platforms.
The projected growth of 18% is seen from the year 2018 to 2019 in terms of the financial benefits of using cloud services.
By 2023, around 70% of IT companies will use the multi-cloud as the cornerstone of their services.
Today, cloud applications have been implemented in many highly regulated fields as banking, insurance, and pharmaceutical.
Are SaaS systems safe for use in highly regulated industries like pharma?
The safety of any data is dependent on whom you are trusting with it; depending on the experience of the solution provider and the systems for storing and protecting it that they have in place. For SaaS, well-established providers are likely to have more mature and potentially better processes in place to handle data, for instance – Microsoft Azure-based solutions.
The first inception of the pharmaceutical industry was quite skeptical about the selection of the cloud solution. For most pharma companies, it was all new to use a cloud for product data processing or communication among their business partners. Especially when both offerings are also available. For example, software for serialization of medicines is available both as a SaaS solution and as an on-premises solution with operation and maintenance on the company’s servers. Nowadays, cloud technology computing is established in our daily work. It has also proven itself in pharmaceutical serialization, as it is the simplest and at the same time most secure solution for the cross-company exchange of data.
How could SaaS services benefit pharmaceutical companies?
The most important advantage for many mid-sized to large pharmaceutical companies is the speed with which they can get products to market, and SaaS solutions can help to reduce time lacks across from every life stage of the product – starting from its development through manufacturing and distribution.
One of the biggest benefits of SaaS solutions in the pharma industry is that they can be implemented and used directly in the business and its subcontractors. SaaS services are priority managed, so all updates of the services and features are available to everyone very after their deployment. Data can be easily extracted and analyzed to be used to streamline and optimize processes.
Implementing a SaaS solution can also help enhance the OEE of the production, facilitate collaboration with subcontractors to deliver services, and build products faster.
The ability to implement SaaS software across subcontractors and other stakeholders enable pharma companies to standardize processes across the supply chain. This can help them to monitor from a single point the progress towards their goals and to meet key environmental and social objectives.
SoftGroup provides a holistic approach to pharmaceutical companies with an entire cloud-based, hybrid, or on-premise solutions to ensure the security of pharmaceutical products and medical devices, enterprise and authority communications.
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