The profitability of pharmaceutical and life sciences organizations is entirely dependent on their ability to discover and market new drugs. Large companies benefit from economies of scale in research, manufacturing and marketing. While smaller companies effectively compete by specializing in drugs that target one or two specific ailments. Operating in a highly concentrated market, with fierce competition among companies, organizations are forced to constantly analyze operations and continually look for new opportunities to maintain profitability and strive for positive company performance.
Average revenue per worker is approximately $700,000, and to maintain this ratio, companies need to manage internal and external market forces. Rising healthcare costs, scientific advancements, increased regulation, industry consolidation, and closer collaboration among industry players demand companies to always have their pulse on corporate status. Financial status updates of the business are a necessity to manage market changes and are required to maintain steady, positive corporate growth.
Why Prophix for Pharmaceutical & Life Sceiences Organizations
Prophix Performance Management solutions provide pharmaceutical and life sciences organizations with up-to-date, timely information.
Prophix is a solution that adapts to pharmaceutical and life sciences-specific business challenges such as measuring product line profitability, managing research and development costs, analyzing ongoing company relationships, controlling capital expenditures, examining cash flow variability, staying abreast of government regulation, and maintaining skilled workers. With multiple factors directly affecting pharmaceutical and life sciences organizations, clear insight into company performance accompanied by detailed analysis is essential. Prophix offers a single solution where budgeting, planning, reporting, analysis and forecasting can become a continuous part of the ongoing planning initiatives of any organization.
Pharmaceutical and Life Sciences organizations use Prophix Performance Management software and services for:
