Thursday, January 16, 2014

ICT Procurement trends in Pharmaceuticals - Enterprise ICT Investment Plans Market Research Report: Research and Markets

Market Survey On ICT Procurement trends in Pharmaceuticals - Enterprise ICT Investment Plans:
Product Synopsis
This report presents the findings from a survey of 102 pharmaceutical companies regarding their approach to Information and Communications Technology (ICT) procurement. The survey investigates the way that pharmaceutical companies like to purchase technology, as well as the major IT and business objectives influencing their IT investment strategies. 

Introduction and Landscape
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Why was the report written?
To highlight the criteria on which pharmaceutical companies select their ICT providers as well as the roles which have influence while making ICT purchasing decisions.

What is the current market landscape and what is changing?
Most pharmaceutical companies are keen to deploy their technologies on-site as they have to adhere to strict compliance regulations relating to data security, however the demand for hosted services is also gaining traction.

What are the key drivers behind recent market changes?
Hosting is more popular in relation to technologies such as mobility and green IT and virtualization, with the aim of achieving cost and operational efficiencies.

What makes this report unique and essential to read?
Kable Global ICT Intelligence has invested significant resources in order to interview CIOs and IT managers about their IT Procurement. Very few IT analyst houses will have interviewed 100+ ICT decision makers in the pharmaceutical industry in H2 2012.

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Key Features and Benefits
Provides insights into pharmaceutical companies' preferred buying approaches.
Comprehend the business objectives that pharmaceutical companies are looking to achieve through their IT investment strategy.
Appreciate the IT objectives that pharmaceutical companies are looking to achieve through their IT investment strategy.
Understand the factors that are influencing pharmaceutical companies' decision to select an ICT provider.
Understand which organizational roles influence ICT purchasing decisions and signing off budgets.

Key Market Issues
Pharmaceuticals companies have a higher preference for buying technologies from local resellers compared to national resellers, as they tend to be in a better position to provide timely support services and also possess vertical expertise.
The survey results indicate that pharmaceutical companies' ICT investments are focused on increasing operational efficiencies by streamlining core business processes.
The objective of cutting costs has been assigned a moderate rating of X, as pharmaceutical companies look to reduce their overheads and operational costs.
Pharmaceutical companies dealing with constrained ICT budgets are looking to deploy technology solutions that offer value for money; therefore, ICT vendors who can offer flexible pricing models will have a competitive edge over their counterparts
According to Kable's survey, 50% of Pharmaceutical companies state that they have an ICT infrastructure which is somewhat complex, with several hardware manufacturers, operating systems, databases, applications, and other elements, whilst 15% describe their ICT infrastructure as 'very complex' with multiple instances of different technology types.

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Key Highlights
It is evident from the survey that an average 69% of Pharmaceutical companies are deploying their ICT solutions on-site, 31% of respondents prefer the hosted model.
Business objective relating to increasing customer satisfaction also has significant influence on IT investment strategy amongst Pharmaceutical companies, with average ratings of X on a scale of 1 to 4.
Kable survey shows that respondents give the IT objective of using IT to support revenue growth the highest average rating of X on a scale of 1 to 4, indicating that pharmaceutical companies consider IT to play a pivotal role in improving their top line growth.
Pharmaceutical companies consider specific functionality expertise/depth and expertise in the pharmaceuticals industry to be the most important criteria in choosing an ICT solution provider, with average ratings of X on a scale of 1 to 4
Pharmaceutical companies rate the CIO as the most influential authority when making ICT purchasing decisions, with the highest average rating of X on a scale of 1 to 4, followed by the CFO/Finance Director (X and CEO (X).

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