Pharma Industry Ready to Move its Business Online

13th October 2014

Industry Online Researches Attitudes towards Technology Innovations

Industry Online: the company behind iOPharma, the secure online trading platform for highly regulated transactions, today announced new research suggesting the pharmaceutical industry is ready to consider moving its business online.

130 pharmaceutical leaders split evenly across SMEs and global brands took part in a survey to determine how technology will be used to navigate business beyond opening borders, increased competition, and austerity measures.

Currently, 42% of respondents sporadically use social media and online sourcing services, yet a massive 76% said they would benefit from an online trading platform to source new business and track trade transactions through to shipping and billing.

74% no longer attached risk to online trading, providing transactions are secure, and 78% preferred a modular system that could grow in-line with individual, departmental and company needs.

The research will be used by iOPharma to update its existing system in the first customer-centric development programme for the pharmaceutical industry.  “We’re very excited to be working closely with the industry to deliver a system that supports its needs and we’ll be coming out of BETA soon”, says Amin Farah, CEO of Industry Online and iOPharma.

“We found that nearly all our respondents shared similar character traits; they dislike routine and are looking for effective ways to source and win new business whilst retaining the heartbeat of the industry; creating strong trading relationships”, continued Farah.

This is the foundations of the redevelopment. “Whilst we can’t give too much away at this juncture, we can say that nearly everyone surveyed believes an industry specific trading platform could globalise business processes and document templates, and save bundles of administrative time”.

“Other customer drivers have been highlighted and we are developing the features to bring to market over the coming months”.

“However, the takeaway for all is that the sector feels major online technology adoption is on the horizon, though corporate Suppliers will rely heavily on peer to peer recommendation before considering the online move,” Farah concludes.

Pharmaceutical professionals who would like to feed into the first customer centric development programme for the pharmaceutical industry, should firstly email Jumana Farah at jfarah@industryonlineltd.com

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