Today the life sciences industry is creating, sharing and using data at an exponential rate, especially with the rise of generative AI. As a result, companies must ensure that all of this data is properly governed, managed and turned into insights efficiently across the enterprise.
Helping life sciences companies manage their data as a strategic asset is the basis of a long partnership between ZS and enterprise cloud data management company Informatica. This year, ZS and Informatica commemorate our 10-year partnership.
“We value and appreciate our decade-long partnership with ZS,” said Richard Ganley, SVP global partners at Informatica. “Over the past 10 years, we’ve worked closely together to help our joint customers create and execute clear data strategies that deliver meaningful business outcomes. Data management has become the critical foundation for AI, and businesses that have a clear data strategy and clean, trusted, reliable data will be best positioned to generate significant strategic advantages from AI.”
“ZS is proud of what we’ve accomplished with Informatica so far,” said Mike Powers, principal and global leader of ZS’s master data management (MDM) practice. “Our work on master data management strategy has been both innovative and collaborative and we look forward to building on our partnership with Informatica in the future.”
The value of master data management (MDM)
Data management is a challenge because both customer and product data are more fragmented and complex than ever. For example, given the complexity of most life sciences organizations, customer data can exist in silos across multiple functions, in separate systems or in no system at all. Each function might manage data according to its own rules and needs. But data managed this way is hard to share, and its lack of governance can lead to operational inefficiencies, inaccurate insights, compliance challenges and poor user experiences. Life sciences product data is complicated because of regulatory requirements, like the Identification of Medicinal Products standards currently being implemented across the industry, compelling companies to more actively manage their data to meet these requirements. To better connect with customers and understand the life cycle of their products, MDM systems are increasingly part of the solution.
The ZS and Informatica collaboration
Over the years, ZS and Informatica have joined forces to provide MDM solutions to help life sciences companies improve their end-to-end data management. Together, both companies leverage their respective expertise while implementing AI-driven solutions that will help life sciences companies better understand data about their customers and products. The goal is to work as one team with one goal in mind: to help our joint customers achieve success.
Informatica and ZS have partnered on two joint MDM applications:
- Customer 360 for Life Sciences, which supports the maintenance of trusted customer data and offers a view of the customer that can be shared and governed across the enterprise
- Product 360 for Life Sciences, which provides an enterprisewide single view of product data, including internal and competitor product profiles
A data transformation journey boosts quality and efficiency
A leading pharmaceutical company set a strategic priority to boost its number of new therapies in the coming decade. As part of this effort, the company needed to advance on its MDM journey. The company wanted to integrate data from all of its disparate systems at scale—from R&D and manufacturing to operational data from the supply chain, finance, HR, sales, marketing, medical affairs and compliance. ZS and Informatica are partnering with the company to design and develop a scalable enterprise MDM cloud platform to enable these cross-functional business capabilities and to support future information needs, with product MDM as the initial area of focus.
Implementing these solutions will help the company establish a single source of truth for its product data. The company could manage all of its data in one place, without silos, and users across the company could search and share the information across functions.
A 10-year partnership between Informatica, ZS and the company has helped achieve some significant benefits. The implementation of the Informatica-based Customer MDM solution in the U.S., for example, allowed the company to:
- Master and integrate more than 30 data sources with more than 15 downstream systems
- Achieve more than a 25% reduction in duplicate records, improving customer data quality used by downstream systems, helping enhance sales call planning and incentive compensation, for example
- Improve operational efficiency, including a 50% reduction in manual effort and faster resolution of the data stewardship queue
Other benefits include:
- Better data and governance, bringing information from various silos together into one place and connecting the dots between them
- The ability to manage data safely, securely and compliantly
- Improved insights, helping the company understand its product life cycle and achieve a 360-degree view of its customer engagement and interactions
- Operational improvements as the company simplifies and automates its processes, makes collaboration easier, resolves incorrect records and data issues, and reduces costs
Life sciences will continue to be a data-rich field. The better companies become at managing and learning from their data, the faster they can move in today’s dynamic environment. In the future, ZS and Informatica will continue to learn, innovate and jointly execute to assist life sciences companies on their data management journeys. Contact us to learn how to get started with your MDM journey.
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