target audience: TECH BUYER Publication date: Aug 2021 - Document type: IDC MarketScape - Doc Document number: # US41433617
IDC MarketScape: Worldwide Life Science Sales and Marketing BPO 2021 Vendor Assessment
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Abstract
This IDC study provides an assessment of eight vendors offering business process outsourcing solutions for sales and marketing processes in the life science industry. Digital transformation is occurring at a rapid pace in life science companies, including in the sales and marketing space. Internal and external sources of data are being collected in the cloud, and this information is being leveraged by sales and marketing groups to improve speed, efficiency, and effectiveness in reaching customers, including both healthcare providers and patients. Tools such as AI, advanced analytics, and orchestration of multiple tasks and roles utilizing data from multiple sources are accelerating change in 2021 and beyond and helping expand the scope of business processes suitable for outsourcing to qualified vendors.
Mike Townsend, research director for Life Science Commercial Strategies at IDC Health Insights, says, "Life science companies are embracing digital transformation efforts within sales and marketing, which can connect stakeholders such as sales representatives, marketing and medical affairs executives, doctors, patients, and payers using a wide variety of digital technologies, including AI, cloud computing, mobile technology, and social media and analytics, and leveraging a host of internal and external data sources. Highly experienced vendors are offering increasingly sophisticated BPO models for processes leveraging these technologies. Life science companies will continue to see improved outcomes, growth, and productivity as they free their organizations to focus on core innovation and business cases, using these offerings to improve outcomes for doctors and patients alike."