TEM for Pharmaceuticals

Why is telecom expense management so important for the pharmaceutical industry? 

Controlling the telecom environment within the pharmaceutical industry will help get safe, effective medicines to the market faster by delivering real value to customers through their secure exchange of information ranging from research and development to clinical trials and to manufacturing, sales and marketing. 

• Telecom and technology inventory management will help global pharmaceutical companies add visibility to their operations in order to minimize risk and drive value.
• Pharmaceutical companies face an onslaught of technologist challenges including internal communications, sensitive medical data, legal compliance and more.
• Shifting markets and regulatory changes requires communications to be organized and efficient, as well as dynamic and powerful.

According to a market report conducted by Transparency Market Research entitled Telecom Expense Management Market (By Application - Financial Management, Order Management, Business Intelligence, Inventory Management, Contract Management, Dispute Management and Others; By Mode of Delivery - Managed Services, Complete Outsourcing and Cloud Services; By End-use Adoption - Banking, Financial Services, and Insurance (BFSI), Retail, IT and Telecommunication, Healthcare, Transportation and Logistics, Manufacturing, Government and Defense and Others) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2016 - 2024," the global telecom expense management (TEM) market is expected to reach a value of US$4.92 Billion by 2024. The market is estimated to expand at a compound annual growth rate of 13.5% during the forecast period from 2016 to 2024.

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