Biotechnology software in the digital age: are you winning?

Abstract

There is a digital revolution taking place and biotechnology companies are slow to adapt. Many pharmaceutical, biotechnology, and industrial bio-production companies believe that software must be developed and maintained in-house and that data are more secure on internal servers than on the cloud. In fact, most companies in this space continue to employ large IT and software teams and acquire computational infrastructure in the form of in-house servers. This is due to a fear of the cloud not sufficiently protecting in-house resources and the belief that their software is valuable IP. Over the next decade, the ability to quickly adapt to changing market conditions, with agile software teams, will quickly become a compelling competitive advantage. Biotechnology companies that do not adopt the new regime may lose on key business metrics such as return on invested capital, revenue, profitability, and eventually market share.