Recently we’ve discussed the changing nature of the research and development (R&D) business model and the advent of virtualized research. Across different industries as varied as pharmaceuticals, consumer goods and energy, organizations are motivated by a common drive to innovate faster than their competitors, getting their next big breakthrough to market.
The goal is to get the maximum impact from research investment and secure the most cost-effective access to cutting-edge technology, ideas and human talent. The answer has increasingly been ‘virtualized R&D’. It means in practice that today’s R&D organization is lean, focused on acquiring the best talent, while relying on a range of external commercial and academic partners for early-stage research through to product testing and manufacturing.
Keeping up with today’s research landscape
To support this collaborative virtual network, businesses are increasingly relying on vendors capable of delivering hosted infrastructure, services and products that cost-effectively manage the flow of information and data through their loose network of partners. The advantages of SaaS-based solutions, aside from being cost effective, is that they are quick to implement and deploy meaning organizations can nimbly respond to changing collaborative research relationships and so stay ahead of the competition.