Digital transformation, or DX, is the transformation that the processes and activities of businesses and other organizations undergo to make use of digital technology and its powerful impact on society as they aim to integrate digital technology into all aspects of their business. Digital transformation is fundamentally changing the way companies work in many different ways, from customer interaction, to delivering services, to consumption of content.
Digital transformation has become much more than just technology alone, it is now an essential part of any business that wants to be successful, overcome barriers to innovation, leverage those innovations to better their company, and increase the value of their business. This whitepaper addresses how companies in the life sciences industry can combine people, technology, and data to create great innovation and accelerate digital transformation.
This whitepaper addresses the challenges that businesses in the life sciences industry are facing to drive innovation with technology, create a more agile, profitable, and competitive company, and building sharable, sustainable, scalable, and valuable innovations across the entire organization. It explains how companies in the high-tech industry can overcome this barrier by choosing, putting into effect, and make use of technology, adapting the behavioral processes of the business to embrace new procedures, and managing and making use of large amounts of data.
This whitepaper gives an overview of the current state of the life sciences industry and discusses trends in this industry. It addresses things that are driving change in the life sciences industry, such as specialized therapies, competition from companies outside of healthcare, the increasing number of acquisitions, mergers, and partnerships, and the difficulty in achieving revenue and margins. It also addresses how companies can begin enabling digital innovation, explains the value of innovation, and building success in establishing innovation.