50 vaccine candidates.
Over USD 2 billion and counting in vaccine development-based investments.
Every country known to us working with WHO and UNICEF to deliver vaccines and the relevant supply mechanisms, even as the countries themselves polarise around vaccine candidates.
If there was one challenge that no one in the Pharma industry or outside of it saw coming, it is perhaps the logistical challenge of vaccinating 7 billion+ people.
However, as the first-responder to both the pandemic situation and its much-awaited solution, the Pharma industry is ready to claim the spotlight. Pharma businesses today have the opportunity to create distinct impact, and be remembered for good, as long as they make the right moves.
In this context, an ERP solution like SAP can help immensely.
SAP has served many industries, among which the Pharma industry is noteworthy for its highly specific needs and demands. Historically, pharma companies have implemented ERP systems like SAP Business One.
Using insights and knowledge acquired from long-term experience within the pharmaceutical industry, SAP has developed a portfolio of reference solutions and content called the SAP Model Company for Pharmaceuticals.
SAP solutions serve the Pharma industry by streamlining key operations and processes such as:
Management of clinical trials
Monitoring of each stage of drug development before it is launched commercially
Logistics and drug efficacy management
Needless to say, all of these functions have been fast-tracked by at least a few years in the current context.
The Impact Of Covid-19, And What The Future Holds For Pharma
Pharmaceutical companies and the healthcare sector have been dealing with drastically increasing demands and volatile, changing environments over recent years.
The COVID-19 outbreak is one major example of how pharma companies have been expected to hit the ground running to come up with a vaccine and treatment solutions in record time.
But the scope for growth is massive, and according to Next Move Strategy Consulting, the global biopharmaceutical market size was estimated as USD 240.21 billion in 2019. Moreover, it is predicted to reach USD 967.27 billion by 2030 with a CAGR of 13.5% from 2020-2030.
To tackle this multi-faceted growth opportunity, several pharmaceutical companies have found ERP solutions such as SAP Business One specifically designed for the Pharma industry to be invaluable in streamlining their processes as well as reducing the damaging effects of complexity.
When asked about what challenges they consider to be most daunting to technological advances in the healthcare/pharma sector, our survey respondents rated changing consumer behavior, cyberthreats, and accelerated technology advances as the top challenges that will have the greatest impact on their company in the next year.
In a situation that is already quite complex, the last stand against uncertainty needs to be taken in the form of empowerment.
After all, an SAP solution is only as effective as its implementation and as of today, only 50% of all SAP S/4HANA license-holders have actually managed to implement the solution within their businesses.
How do we solve this issue? To answer that question, we need to know what is stopping businesses from taking the next step.
The answer to that question is uniform- a lack of enablement solutions for SAP end-users.
Currently, SAP training is conducted barely a week prior to going live, and this is barely enough time to get used to the new ERP environment.
How can people be expected to work with data, find answers and act on solutions when their context itself remains so volatile?
We believe that training end-users on SAP is the single most effective way to better implementation.
And what is needed now, in an emergency situation, is SAP training that is as agile, and as 'ready' as your pharmaceutical enterprise.
This is precisely why Espresso's SAP Business One learning module is the best choice you can make.
For one, the content for training is ready today, and can be deployed to your entire global or local teams in no more than five days from now. Moreover, over 70% of SAP training content can actually be standardised, which means time saves in Training Needs Analysis, and in building content for your specific need.
Plus, Espresso understands that no two businesses are alike, and we understand the Pharma industry very well, having worked with key global players in the space for nearly two decades.
We think Espresso could be the perfect solution for your business case. If you agree with us on that, please take a look here for the full list of features.