Pharma Industry’s Growing Reliance on Robotic Process Automation
Automating manual tasks with robotic process automation services has become a game changer for the pharma industry
The pharmaceutical industry is a highly regulated and compliance-driven industry. Data handling in the global pharmaceutical industry is mostly manual that comes with its fair share of woes by being prone to human errors. Moreover, the constant need for drug approval and HR management expenses are making R&D costs go through the roof. Therefore, from an economic perspective, the use of automation is gradually spreading across pharmaceutical, medical device, and biotechnology companies, from clinical trials to regulatory compliance to the back office.
In the race to outpace digital transformation, robotic process automation (RPA) is seen as a quick and easy way to streamline critical processes. According to the 2021 Gartner Magic Quadrant for Robotic Process Automation study, RPA costs one-third of an offshore employee and one-fifth of an onshore employee.
The advent of Robotic Process Automation promises to revolutionize the pharmaceutical industry by helping to streamline end-to-end operations, makes zero mistakes and work seamlessly, delivering speed and flexibility to a wide range of processes.
Using the Bots
Once implemented, these bots allow for improved operational forecasting and decision-making. The benefits include:
- Streamlining the tedious product labelling process in manufacturing
- Providing the tools and capacity to process volumes of data on product quality and distribution
- Maintaining official records for new drug applications
- Automate training assignments, identifying gaps and communicating with personnel affected
So, how is this intelligent technology being implemented in the pharma industry?
Many pharma companies have jumped on this AI bandwagon to accelerate manufacturing, improve problem-solving and decision-making skills and increase agility. Here are some of the areas where RPA is implemented:
- Clinical Trials Management:Automation here ensures consistency, quality control and accuracy in data entry and eliminating errors.
- Supply Chain and Inventory Management: Quick procurement and shipping, invoice processing, better supply and demand planning and reducing operational costs.
- Salesforce Operation: IA is used to automate data entry, monitor records, document and study customer feedback.
- Compliance and Regulatory Requirements: Integrating IA mitigates this risk of errors while adhering to the rigorous standards and regulations of the pharma industry.
Why Pharmaceutical Industry should adopt RPA?
RPA is not an alternative, but imperative for the pharmaceutical industry. Here’s looking at the benefits of adopting this technology in the pharma industry.
- Processing Time – RPA in the pharmaceutical industry results in the reduction of report processing time, critical inventory transactions and increased customer satisfaction
- Execution Time – Provides faster and accurate financial settlements with better tracking and accountability of operations
- Improved Performance – Ensures error-free data
- Improved Implementation of Data Analytics – RPA can collect valuable data easily and help the organization to have a better understanding of it through advanced analytics
The future of this technology is bright for the pharma companies bringing safe and effective drugs to the market without negotiating on quality and productivity.