Unlocking the Full Potential of Product and Platform Models in Life Sciences: A Path to Scalable Success

As life sciences companies embrace digital transformation, many are experimenting with product and platform operating models designed to accelerate the delivery of user-centric technology. However, scaling these initiatives across the organization remains a significant challenge. Fortunately, research highlights that six actionable strategies can help businesses achieve sustainable growth and scale while maximizing the benefits of this approach. 

The Growing Role of Digital Technology in Life Sciences 

The value of digital technologies and advanced analytics in life sciences is no longer a point of debate; the conversation has shifted to how best to leverage these tools and scale their impact within organizations. Life sciences companies are increasingly adopting product and platform operating models, where business and technology specialists collaborate to create products that enhance customer, patient, and employee experiences. The ultimate goal is clear: staying sharply focused on user needs while ensuring technology development delivers real-time business value. 

A survey revealed that organizations that have successfully scaled this model have realized impressive outcomes: customer satisfaction rose by 15%, speed of delivery increased by 20%, and employee satisfaction improved by 20%. However, despite these promising results, only a few companies have managed to fully implement this model at scale. 

Six Strategies to Scale the Product and Platform Model 

1. Foster Equal Business and Technology Partnerships

Successful implementation of the product and platform model requires the seamless integration of business and technology teams. However, businesses often struggle when technology leaders drive the transition independently. The key to overcoming this challenge lies in embedding business leaders into product and platform teams, ensuring that all aspects of the product development cycle are driven by the needs of end-users and business priorities. 

2. Move Beyond Pilots to Systematic Scaling

Many companies successfully run pilots but fail to transition to company-wide adoption. While pilots can generate momentum, scaling the product and platform model requires a strategic approach. The first step is to form a dedicated core team to drive the transition. Then, by focusing on interdependent products with aligned visions, companies can significantly accelerate the process and avoid the pitfalls of fragmented or inconsistent implementations. 

3. Align Organizational Structures for Maximum Impact

To unlock the full potential of the product and platform model, organizational changes are often necessary. Centralizing technology platforms and aligning talent by expertise disciplines ensures that resources are deployed efficiently and are available to drive high-priority work. This shift helps eliminate redundancies, fosters talent development, and maintains consistent standards across teams. 

4. Develop Talent and Capabilities In-House

Building internal capabilities is crucial for sustaining the long-term success of a product and platform operating model. Organizations should focus on upskilling existing employees, particularly in product management, and hiring talent in key areas like engineering, analytics, and data science. Investing in talent development will enable companies to stay ahead of industry trends while reducing reliance on external vendors. 

5. Integrate Enabling Functions for End-to-End Efficiency

A product and platform model requires more than just the collaboration of business and technology teams. It is essential to integrate other enabling functions, such as compliance, cybersecurity, and risk management, directly into the product development lifecycle. Embedding compliance analysts within teams and automating low-risk processes not only speeds up delivery but also improves overall product quality. 

6. Adopt a Long-Term, Performance-Driven Funding Model

The traditional, short-term funding approach common in life sciences organizations is ill-suited to the ongoing needs of product and platform teams. To support long-term product success, companies should commit to performance-based, multi-year funding models. This ensures that product teams have the resources they need to continuously enhance and improve products based on evolving user demands. 

Why Scaling the Product and Platform Model Matters 

As the life sciences industry continues to innovate, companies must prioritize user-centered approaches that foster rapid delivery and continuous improvement. By leveraging the six key strategies outlined above, life sciences organizations can maximize the impact of their product and platform models, achieving better business outcomes, improved customer experiences, and more satisfied employees. 

 

Maximize Your Digital Transformation with BioBoston Consulting 

At BioBoston Consulting, we specialize in helping life sciences companies navigate the complexities of digital transformation. With deep expertise in product and platform operating models, we partner with businesses to unlock new value, drive scalable growth, and realize the full potential of their digital initiatives. 

Contact us today to learn how we can support your journey toward a more agile, user-centric organization. Let us accelerate your digital transformation together!