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For Life Sciences, the Future of Master Data Management is in the Cloud

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Cloud-based MDM is cost-effective and easily implemented; it is scalable, robust and mature; and it has the flexibility required to enable and support the evolving transformation of life sciences …

Cloud-based MDM is cost-effective and easily implemented; it is scalable, robust and mature; and it has the flexibility required to enable and support the evolving transformation of life sciences commercial operations.

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  • 1. • Cognizant 20-20 InsightsFor Life Sciences, the Future of MasterData Management is in the Cloud Executive Summary Cloud Cost Savings Life sciences commercial operations are Traditional MDM systems managed in-house are undergoing major shifts in how they operate expensive to implement and maintain because and in the resources available to them. Increas- they require hardware and software investments, ingly, sales and marketing organizations will sell significant customization and ongoing mainte- therapies targeted to smaller patient popula- nance and upgrades. The cloud model eliminates tions, and they already have shrinking marketing as much as half of the costs of traditional MDM budgets and less direct access to physicians. At approaches. the same time, sales professionals are using new and varied tools: tablet computers, smartphones According to our typical client experiences, an and a variety of social media outlets. initial investment in an on-site MDM system costs a mid-sized-to-large pharmaceuticals company Smart master data management (MDM) is critical between $4 million and $10 million for hardware to getting better results with fewer resources and software. Implementation time for such and different tools. Mining customer data, and systems runs six months to a year. Hardware relationships among that data, can yield valuable and software must be upgraded regularly, and business intelligence. Yet traditional, on-prem- security measures continuously evaluated and ises MDM systems consume vast financial and maintained. In addition, as sales teams adopt human resources. Given the cost pressures on life mobile access devices, the MDM system must sciences companies, traditional MDM solutions integrate with and support those devices with are increasingly untenable. new features and services, often requiring more programming and customization. The time has come to put the life sciences customer in the cloud. Life sciences companies This array of maintenance and upgrade activity, can adopt a flexible, affordable MDM model plus the initial investment, makes ownership of an that provides high-quality, up-to-date customer on-premises MDM system extremely expensive. data, whenever and wherever it is required, at a The high cost is increasingly hard to justify in the fraction of the cost of on-premises MDM invest- face of industry turmoil and constant financial ments. Cloud-based MDM is cost-effective and constraints — especially when the cloud is such a easily implemented; it is scalable, robust and powerful alternative to traditional MDM. mature; and it has the flexibility required to enable and support the evolving transformation of life sciences commercial operations. cognizant 20-20 insights | april 2012
  • 2. Cloud-based MDM draws on an experienced 50% cost savings with a cloud MDM subscrip-service provider’s economies of scale to offer tion compared with a traditional MDM solution,these benefits: without compromising features or functions.• Faster implementation: Cloud-based MDM is Better Support for Commercial available to support commercial operations in Operations four to six weeks vs. the year-long implemen- Life sciences sales and marketing profession- tations often required by traditional solutions. als are still expected to improve results despite• Upfront and continuing savings: Integration narrower development pipelines, smaller target between the cloud and common internal appli- populations and lower budgets. Being successful in cations should be included in the set-up, while these conditions requires commercial operations customization is typically quicker and less to use customer data more creatively to identify expensive because service providers draw on high-value targets, plan effective promotions a large base of industry best practices to guide and accurately measure results. The cloud model this work. Standard upgrades should be free. supports these new business and commercial operations strategies by providing complete and• Predictable operating costs: Clients subscribe current data for dynamic targeting, call planning only to the level of service they need and do not pay for capacity and capabilities they don’t and re-routing, measuring and analytics, all at require. lower costs.• Minimized data stewardship expenses: Expe- • Fast availability of cloud-based MDM solutions rienced service providers build data quality — in weeks, not months — means these systems assurance practices and structures into can be used with a specific, limited trial for a their solutions so clients can reduce internal product or campaign to evaluate new branding resources dedicated to these tasks. or product lifecycle extension strategies.Based on our engagements, most average • Easier integration of cloud MDM withand large life sciences companies can achieve internal applications and devices, includingCustomer-in-the-Cloud Business Process as a Service Software as a Service Platform as a Service Infrastructure as a ServiceFigure 1 cognizant 20-20 insights 2
  • 3. smartphones and tablets, makes data more Powerful Tools Today; accessible, whenever and wherever it is needed. Flexibility for the Future• Faster updates and “anytime” access ensure Cloud solutions will give life sciences commercial that cloud data is fully current and accurate for operations the flexibility and capabilities required all users and applications. for managing ever-changing industry conditions• Eliminating data silos through streamlined at a fraction of the time and cost associated with integration and access enables business strat- adapting internal systems to new branding and egists to more easily find and analyze rela- marketing strategies. tionships among customers and groups of Regulatory changes often require extensive customers — potentially even extending that system changes, making maintenance and intelligence to users of therapies. Enabling upgrading of on-premises solutions an expensive, easier data mining will be important for never-ending project. With cloud-based MDM, that developing new strategies for defining and burden is on the service provider. Experienced reaching smaller target populations with service providers with deep and wide healthcare effective messages. expertise typically have anticipated these shiftsLife sciences commercial operations can draw on and so are able to accommodate them quicklythese benefits from the cloud with full assurance and minimize their financial impact on servicethat their customer data is secured and accessible subscribers.only by authorized users. Experienced service The cloud model also has the inherent flexibilityproviders incorporate a comprehensive range of to connect with other public and private clouds,powerful security and identity management tools, social media, mobile applications, wireless accessfar beyond what most individual companies can and evolving technologies and collaborativeafford to create and maintain. approaches to delivering healthcare. Such inte-MDM in the cloud is a natural extension of a gration, alongside data access, will be criticalmodel many life sciences companies already for supporting the increasingly blurred lines ofhave adopted: cloud-based customer relationship industry entities and to reach more empoweredmanagement (CRM) applications. Cloud CRM can and connected consumers of therapies andbe easily integrated with cloud MDM solutions, healthcare.further streamlining the client’s data collection, Accomplishing such technologically sophisticatedaccess and management. connectivity in-house is difficult, time-consumingOther third-party cloud-based data solutions, and expensive. Compare that approach with thesuch as state license number (SLN), data cloud service provider, which can keep technologycleansing and specialized validation services, can in alignment with a shifting industry so that lifealso be quickly integrated with cloud-based MDM. sciences commercial operations can focus onSuch integration extends the savings, timeliness strategies and sales.and accuracy of a cloud MDM implementation toother data functions.About the AuthorSriraj Rajaram is the North American Practice Leader for master data management in Cognizant’sCustomer Solutions Practice. He specializes in defining ROI for master data projects, establishing datagovernance processes and developing MDM sponsorship within enterprises. Sriraj’s team is responsiblefor many of Cognizant’s innovative MDM solutions, including MDM-in-a-Box and Customer-in-the Cloud.He can be reached at Sriraj.Rajaram@cognizant.com. cognizant 20-20 insights 3
  • 4. About CognizantCognizant (NASDAQ: CTSH) is a leading provider of information technology, consulting, and business process out-sourcing services, dedicated to helping the world’s leading companies build stronger businesses. Headquartered inTeaneck, New Jersey (U.S.), Cognizant combines a passion for client satisfaction, technology innovation, deep industryand business process expertise, and a global, collaborative workforce that embodies the future of work. With over 50delivery centers worldwide and approximately 137,700 employees as of December 31, 2011, Cognizant is a member ofthe NASDAQ-100, the S&P 500, the Forbes Global 2000, and the Fortune 500 and is ranked among the top performingand fastest growing companies in the world. Visit us online at www.cognizant.com or follow us on Twitter: Cognizant. World Headquarters European Headquarters India Operations Headquarters 500 Frank W. Burr Blvd. 1 Kingdom Street #5/535, Old Mahabalipuram Road Teaneck, NJ 07666 USA Paddington Central Okkiyam Pettai, Thoraipakkam Phone: +1 201 801 0233 London W2 6BD Chennai, 600 096 India Fax: +1 201 801 0243 Phone: +44 (0) 20 7297 7600 Phone: +91 (0) 44 4209 6000 Toll Free: +1 888 937 3277 Fax: +44 (0) 20 7121 0102 Fax: +91 (0) 44 4209 6060 Email: inquiry@cognizant.com Email: infouk@cognizant.com Email: inquiryindia@cognizant.com©­­ Copyright 2012, Cognizant. All rights reserved. No part of this document may be reproduced, stored in a retrieval system, transmitted in any form or by anymeans, electronic, mechanical, photocopying, recording, or otherwise, without the express written permission from Cognizant. The information contained herein issubject to change without notice. All other trademarks mentioned herein are the property of their respective owners.