Application Portfolio RationalizationSource: Sitrof Technologies
The life sciences environment is changing rapidly. New Drug Applications have decreased by 50 percent, R&D spend has tripled and mergers and acquisition activity is on the rise. Shareholders are demanding more from less, and governing bodies are increasing regulatory pressures.
As a result, a bloated application portfolio has been created within the typical life sciences organization. Some estimates suggest that as much as 70 percent of IT spend is going directly to the support of legacy applications and redundant production applications. It’s common knowledge that aged data loses value quickly – yet organizations are forced to maintain the data in order to comply with regulatory policies. And while the data value decreases, legacy application support costs continue to rise.