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Using IT to Speed up Clinical Trials
McKinsey on Business Technology, Spring 2007 The sooner a drug can pass its clinical trials, the bigger are the revenues before its patent expires. The first wave of IT innovations to streamline the clinical-trials process used electronic data capture to speed up the collection and analysis of information. The second wave promises even greater savings if pharmaceutical companies adopt an end-to-end perspective by integrating the planning process for a number of trials and by creating modular, reusable tools to plan them. Pharmaceutical companies should also make electronic data capture easier for research physicians to use, perhaps by creating an industry standard.
The CEO as CIO: An Interview with ICICI's Chief Executive
McKinsey on Business Technology, Spring 2007 India's largest private bank succeeds primarily because it can rapidly implement technologies giving it a competitive edge, says the bank's chief executive, K. V. Kamath. Kamath, CEO of the Industrial Credit and Investment Corporation of India, considers information technology so central to the bank's achievements that he manages it himself, without a CIO. Drawing inspiration from the culture and methodologies of Silicon Valley, Kamath has turned a stodgy industrial lender into a regional powerhouse with assets of $56 billion. Having learned to serve low-income consumers cost-effectively in India, ICICI now is exploring other markets.
The Next Frontier in IT Strategy: A McKinsey Survey
McKinsey on Business Technology, Spring 2007 Senior IT executives say they are well-aligned with their business partners in shaping corporate IT strategy, according to a recent McKinsey survey. Things have changed markedly since a decade ago, when many CIOs merely responded to business information needs. This change shows that IT strategy is maturing from a reactive to a proactive stance. However, IT leaders are less confident that they are driving innovations that lead their companies to new products and processes. Innovation demands a new approach to IT planning.
