Is there a single business segment which has not been affected (mostly positive, but negative as well) by information technology outsourcing? Now, there is this report in NDTV, which says, how pharmaceutical companies, already pressed with various issues, are getting back their competitiveness, thanks to some IT, companies.
They call its life science process outsourcing. A fairly new but rapidly growing segment of Knowledge Process Outsourcing (KPO) where apart from technologists, we are inducting doctors, pharmacists and even nurses who bring understanding of medicare processes and help in extending services.
With global pharma companies leveraging IT to cut costs, Indian technology firms such as TCS, Satyam, Patni and Cognizant are now stepping up presence in life science space.
"Increasing costs of R&D, coupled with low productivity and poor bottom lines, have forced major pharma companies worldwide to outsource part of their data management activities to low-cost countries, thereby saving costs and time in the process," TCS Vice President and Global Head - Life Sciences and Healthcare ISU - Debashis Ghosh said.
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