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Fuel Growth or Miss Major Opportunities in Life Sciences

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Fuel Growth or Miss Major Opportunities in Life Sciences

Life Sciences companies have a choice to make. Traditional culture has not included an emphasis on cost. The luxury of high and easily adjustable prices has been the primary driver of profitability and the funding of growth. The industry is at a crossroads – and a greater emphasis on the management of costs is increasingly important to achieving profitability and fueling the engine for growth.

Learn more: http://bit.ly/29KMlJ1

Life Sciences companies have a choice to make. Traditional culture has not included an emphasis on cost. The luxury of high and easily adjustable prices has been the primary driver of profitability and the funding of growth. The industry is at a crossroads – and a greater emphasis on the management of costs is increasingly important to achieving profitability and fueling the engine for growth.

Learn more: http://bit.ly/29KMlJ1

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Fuel Growth or Miss Major Opportunities in Life Sciences

  1. 1. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Fuel Growth or Miss Major Opportunities in Life Sciences
  2. 2. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Life Sciences companies have a choice to make. Traditional culture has not included an emphasis on cost. The luxury of high and easily adjustable prices has been the primary driver of profitability and the funding of growth. For many reasons, this is changing. $$$
  3. 3. Increase in pricing behavior transparency More price-and research-savvy customer base Greater scrutiny from government and media outlets Unlikely continuation of the pace of recent M&A activity What are the drivers of this change? The industry is at a crossroads – and a greater emphasis on the management of costs is increasingly important to achieving profitability and fueling the engine for growth. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture.
  4. 4. So how do companies fuel growth and continue to produce sizable shareholder returns when the lever pulled in the past may not be there in the future? Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Start by obtaining a very clear understanding of spend, then use a scalpel, not a hatchet, to strategically redistribute costs within your P&L. We do this through zero-based cost models.
  5. 5. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Steps to success: Clearly understand your growth priorities and what’s needed to achieve Achieve true transparency into spend across the organization that contribute—or do not contribute—to business outcomes Provider leadership with clear choices to strategically reduce spend and identify clear accountability within the leadership team to sustain value through changes to mindsets and behaviors Redistribute savings to the identified strategic priorities to fuel your growth agenda or improve overall profitability
  6. 6. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Typical ZBS outcome is a 2% reduction in SG&A. Zero-based spend for non-labor cost and zero-based organization for labor costs are delivering unprecedented results.
  7. 7. Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. Among the Top 50 life sciences companies, this represents a $5B cost takeout and ~$100B market capitalization opportunity for the industry.
  8. 8. LEARN MORE about strategic cost management and zero-based models in our full reports: Copyright © 2016 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. @AccentureStrat www.accenture.com/fuel-for-growth www.accenture.com/zbb

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