The pharmaceutical industry has to innovate in the middle of a complex web of compliances, big investments in R&D, and decades-long returns on investment while remaining profitable. Regulators expect compliance at every stage, from R&D and clinical trials to mass manufacturing, which requires a lot of data exchange between various bodies. Given the life-changing impact of drug discovery, there are huge amounts of data and processes involved, which require systems for seamless flow of information as a necessity.
Companies both small and large have to tackle these challenges from different angles. Large companies have to work around the limitations of legacy IT systems while not compromising on speed, while their smaller counterparts struggle with systems that do not scale. In both cases, pharma companies have to deal with manual data handling, siloed systems, and inefficient processes that slow down innovation.
Top 3 problems plaguing Pharma Companies
Here are the key challenges faced by pharma companies from a data handling perspective:
- Managing large amount of complex data and processes – Pharmaceutical companies are mandated to maintain and share large volumes of data with regulatory agencies. When new drugs and therapeutics are brought to the market, it involves years of research, clinical trials, regulatory approvals, manufacturing, supply chain, and vendor management. Companies have to comply with government regulations, which require seamlessly sharing data in formats required by various bodies.
- Legacy IT systems – The challenge of legacy IT systems is two-fold: they are siloed most of the time and do not connect out of the box with other applications, and require dedicated IT specialists to maintain. This also attracts a lot of manual processes which take away precious time from the team members, thereby diluting their energies from research, operations or other critical processes. This also poses a challenge to the HR departments, as talent is overwhelmed with non-essential tasks which could lead to attrition. Moreover systems need to comply with GxP principles in the US which are governed by 21 CFR Part 11. Most countries have equivalent systems, making it even more complex for global companies.
- Supply chain challenges – Pharma companies across the globe have to comply with track and trace requirements such as Drug Supply Chain Security Act (DSCSA) in the US. They also need to maintain transparency and efficiency in B2B transactions with suppliers and vendors.
Challenges in the pharma industry addressed by APIs
APIs can facilitate data sharing and integration, which is essential for complying with drug regulators. APIs also play a crucial role in connecting systems and applications between various stakeholders, such as pharmaceutical companies, their vendors, and buyers. Improving efficiency and transparency in B2B transactions through automations can provide real-time visibility and accelerate partner processes, which can be achieved through API integrations. APIs are also key for enabling the use of AI in drug development. AI allows pharma companies to analyse large datasets and accelerate drug discovery.
Given the importance of APIs in the industry, managing and governing APIs can be critical in achieving these efficiencies. The industry also has stringent privacy and intellectual property requirements which makes governance critical for all the stakeholders.
Addressing pharmaceutical industry’s API challenges with Boomi
Boomi is a proven iPaaS provider adopted widely by the Fortune 500 companies, offering a suite of solutions catering to the various challenges in the pharma industry. Boomi API Management provides a comprehensive solution for organizations to streamline their API lifecycle, from development through deployment and management. The platform enables enterprise architects to expose data through APIs using proxy configurations, while technical teams can maintain control through the API Gateway, ensuring secure data access across cloud, on-premises, and edge environments. The solution also simplifies API governance and enables real-time integrations that make data readily available for business needs.
Through the API Developer Portal, application developers can easily access existing application data to create unified experiences across mobile, social, and IoT platforms. The platform accelerates development by supporting testing and deployment across multiple platforms in hybrid IT environments, while providing a centralized, cloud-based system for managing all API interactions. This unified approach ensures scalability and maintains clear visibility of all API connections, making it easier for organizations to track and optimize their API usage.
RESKOM’s approach to addressing pharma industry challenges with Boomi
At RESKOM, we recognize the unique challenges faced by the pharmaceutical industry, including managing complex data, integrating legacy systems, and ensuring regulatory compliance. We understand the power of Boomi API Management in creating a unified platform to address these challenges, enabling secure data exchange, simplifying data access, and accelerating application development. Our team of certified Boomi experts, combined with our deep understanding of the pharma sector, uniquely positions us to implement and leverage Boomi to optimize your operations, streamline processes, and ultimately, accelerate your digital transformation journey. Connect with us to explore how RESKOM can empower your pharmaceutical organization to thrive in the evolving digital landscape.
