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The Banking Industry today faces customer satisfaction as one of major challenges at the forefront. In addition to the increased commoditization of retail banking products, most banks have virtually identical products. This puts the banks under a lot of pressure to distinguish their products in an intensely competitive, low-growth and low-margin environment. In response to these challenges, the banks are now shifting focus from innovation in developing new products to more client centric strategy.
The Life Sciences industry inclusive of pharmaceuticals, biotechnology, healthcare, research and development, and medical devices is in dire need of next-gen technological solutions such as mobility, analytics, IOT, and cloud. With constantly changing healthcare regulations and evolving technology, healthcare payers and providers are continuously looking to leverage digital technologies to enhance patient engagement and improve the care quality. Healthcare industry is adopting the “patient centric” approach to make smarter decisions for providing better care. Following the same principle, the global Life Sciences (LS) industry is undergoing a tectonic shift, with the focus moving from healthcare providers and drug manufacturing to patient-centricity and better quality of care. The sector faces several challenges and cost pressures amid increasing regulatory scrutiny, patent cliffs and a proliferation of generics.
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