Tech Challenges In The Phases Of Life Sciences Organizations: The Startup Phase

When a life sciences company first starts out, the business often moves at a really fast pace. The business focus is completely zeroed in on innovation. While you know in the back of your mind that it’s important to develop strong business processes, right now the life sciences startup phase is all about innovation, especially since you’re working with a lean team. As a result, everyone on this small team has to wear many hats across the organization.

For example, in finance, you may have one person handling all of the books. That one person books all of the journal entries and pays the bills. You might also have a business model that outsources all of its IT services.

So with individuals wearing many many hats, here’s also a multitude of business processes. Since these processes are not yet clearly defined, different individuals may be handling similar tasks differently. At this point, you know it’s okay, because your transaction volume is light. With that, manually processing your transactions is okay.