Life science companies reach out to consultancies because they are in one of two positions; reactively fighting fires when problems arise, or proactively looking for ways to improve efficiency and reduce risk.
Either way, for many companies looking for outside help to achieve their business transformation goals, generally the first thought is to look to a ‘big’ consultancy firm—including the likes of BCG, PwC, or Deloitte, for example. These large, multinational firms have plenty of resources to deploy, so it’s easy to see why a growing life science company would look to these big players to develop and implement effective change initiatives.
However, bigger is not always better when it comes to life sciences consultancies.
Often, big consultancies will simply parachute in with pre-existing solutions to a company’s problems, and the changes that need to be implemented. The risk is that these consultancies put into action a ‘one-size-fits-all’ solution.
For companies looking for long-term and sustainable solutions, this can be a mistake.
Regardless of whether a company is looking to achieve strategic realization, reduce operating costs, or develop solutions to navigate complex regulations, it faces its own set of unique challenges. These challenges require deep root-cause analysis before solutions are proposed—especially given the complexity of the life sciences regulatory landscape and the necessity to effectively manage risk.
The scale of the project and size of the company can also be a sticking point when working with big consultancies. They typically work with companies worth hundreds of millions of dollars, which means for those companies who that either don’t meet this threshold or are looking for a consultancy with a different approach, other options should be explored.
There is an alternative.
Enterey is focused. That is to say, we only work with life science companies, which means we truly understand the industry and the complex business environments they work in.
We take a different approach to some of the bigger players in the sector. When we work with a new client, our first step is to truly immerse ourselves in the culture of the company, ensuring that our roadmaps and solutions are rooted in a true understanding of what’s needed, rather than predetermined or taken off the shelf.
This assimilation ensures that our transformation solutions work in the long-term, because critical stakeholders have been engaged, and proper structures have been put in place. The result is clarity about the new process improvements and a truly agile organization.
If your life science company is looking to improve internal processes, eliminate process inefficiencies, and reduce risk, Enterey has the expertise to transform your company. To speak to us about how, contact Mike.