Outdated Accounting Practices Hold Back R&D Success
In small and mid-cap life sciences companies, finance teams are stuck in legacy accounting practices that stifle innovation. Bloated Excel sheets, convoluted explanations, and feedback loops that feel more like interrogations leave R&D teams frustrated and distracted. These outdated processes don’t just waste time—they erode the value of R&D itself. It’s time for non-finance leaders to demand streamlined, transparent tools that support growth, not block it.
As a result, the journey from lab to market hinges on the seamless integration of R&D with strategic financial oversight.
Below, we explore why CFOs – and stakeholders – must rethink their approach, replacing outdated methods with more modern and integrated solutions to protect and amplify R&D success.
Outdated Accounting Processes Hinder Revenue Recognition Efficiency
The Importance of Key Objectives for Biopharmaceutical Companies
Understand the importance of key objectives for biopharmaceutical companies in Return on pharmaceutical innovation, improving patient engagement, and upskilling digital skills internally are the keys objectives of biopharmaceutical companies.
Biopharmaceutical Success Framework – The Rule of Threes
The Importance of Key Objectives for Biopharmaceutical Companies
Understand the importance of key objectives for biopharmaceutical companies in Return on pharmaceutical innovation, improving patient engagement, and upskilling digital skills internally are the keys objectives of biopharmaceutical companies.
The Importance of Key Objectives for Biopharmaceutical Companies
The Importance of Key Objectives for Biopharmaceutical Companies
Understand the importance of key objectives for biopharmaceutical companies in Return on pharmaceutical innovation, improving patient engagement, and upskilling digital skills internally are the keys objectives of biopharmaceutical companies.
Principles to Guide Organisational Purpose and Long-term Success of Biopharmaceutical companies.
To thrive and innovate, Biopharmaceutical companies are seeking to achieve organisational purpose and long-term success. Focusing on long-term objectives, staying connected with stakeholders and leveraging internal talents is the right strategy. By Rui Manuel Teixeira Introduction to Organisational Purpose and long-term success. This blog post explores the fundamentals to guide biopharmaceutical companies towards a meaningful and effective organisational purpose and long-term success. By focusing on long-term objectives, staying connected with stakeholders, and leveraging the talents of your employees, your biopharmaceutical companies will thrive and innovate. In my blog post, “The 3 Critical Key Areas for success for Biopharmaceutical companies are Research and Development (R&D), Value Creation and People.“, I approached the first step on how to implement a successful strategy. Principle #1: Focus on Long-term Objectives “There are only a limited number of things that we, as individuals and organisations can consistently focus on over time. Therefore, it is important to ensure that the things we do concentrate on are the most important.” To achieve long-term success, it’s crucial to prioritise long-term objectives over short-term gains. This principle involves setting clear, strategic goals that align with your organisation’s mission and values. Regularly review and adjust these objectives to ensure they remain relevant and actionable. Initiatives to focus on Long-term Objectives: Principle #2: Stay Connected with Stakeholders “Know the reality of your business, do not get enclosed in an ivory tower.” Staying connected with your stakeholders, patients and health care professionals, is vital for organisational purpose. Engage with them regularly to understand their needs, expectations, and feedback. This connection helps build trust and improve scientific quality which is highly appreciated by PAYERS. Staying connected with Stakehoders is vital to keeping a fresh view of what’s important to Patients. Initiatives to Stay Connected with Stakeholders: Principle #3: Leverage Employee Talents for Collaboration and Innovation “Take full advantage of all the talents and energies of our people – the people reporting to us, staff groups, peers, agencies, whoever is involved in making our business succeed.” Your employees are your greatest asset. By leveraging their talents and encouraging collaboration, you can foster a culture of innovation within your organization. Create an environment where employees feel valued and empowered to contribute their ideas and skills. Biopharmaceutical companies that can attract, engage and retain top talent gain a competitive advantage. Initiatives to engage People Conclusion By implementing these three principles—focusing on long-term objectives, staying connected with stakeholders, and leveraging employee talents—biopharmaceutical organisations go towards a clear and meaningful purpose. These strategies will not only help achieve long-term success but also foster a positive and innovative organisational culture. Start applying these principles and watch your organization thrive. The three principles concept were first described by Mr. John E. Pepper’s in 1981. Mr Pepper is a former CEO of Procter & Gamble and under his leadership, the company had one of the most prolific times in its history, not only in terms of revenue but also with people engagement. If you want to know more about Organisational Purpose and Long-term Success, please click here and download our whitepaper.
Research and Development, Value Creation and People are Critical Key Areas for Success that do not take a day off.
By Rui Manuel Teixeira The 3 Critical Key Areas for success for Biopharmaceutical companies are Research and Development (R&D), Value Creation and People. Summer vacation is an awesome time to chill and recharge. That said, for biopharmaceutical executives, it’s also a perfect chance to brush up on some of the strategic fundamentals and focus on the key areas that drive success for Biopharmaceutical companies: Research and Development (R&D), Value Creation and People. Leaders tend to overlook these fundamentals because of the daily demands and distractions at work. To do this effectively, we recommend to focus on factors that impact the most biopharmas, the identification of strategic opportunities and risks mitigation. Research and Development (R&D) to boost innovation. R&D is the lifeblood of any biopharmaceutical company and companies that excel in Reaseach & Development (R&D) push the boundaries of science and technology and are often the first to bring breakthrough therapies to market. Key focus areas and initiatives to strengthen R&D: Value Creation is a competitive advantage Creating value for shareholders, patients, and society involves adopting a patient-centric approach to developing effective and affordable treatments and therapies. Key focus areas and initiatives to strengthen Value creation for the Patients: Key focus areas and initiatives to strengthen Value creation for the Shareholders: People remains at the center of the company People are the backbone of any successful company. This includes not only the scientists and researchers who drive innovation, but also the business leaders, sales representatives, and support staff who keep the company running smoothly. Companies that prioritise people, invest in training, career development, and other initiatives. It creates a culture of excellence and ensure that the company is able to attract and retain top talent. Biopharmaceutical companies committed to sustainability and reducing their environmental impact, with ambitious goals for reducing greenhouse gas emissions, conserving water, and minimising waste increase employee pride and retention. Key focus areas and initiatives to strengthen People: Leaders who understand the importance of Research & Development, Value Creation, and People position their company and themselves for long-term success and make a meaningful impact on human health and society’s well-being. If you want to know more about Critical Key Areas for success, please click here and download our whitepaper.
