A Guide To Maximizing The Value Of The Cloud

Moving to the cloud is a significant step to lowering costs while making meaningful progress towards higher efficiency. Many life science companies are annually saving millions from their migrations. Famously, cloud computing and AI played a crucial role in accelerating the design of the COVID-19 vaccines, shaving years off the normal development timeframe.1

Unfortunately, the migration process itself often requires months of planning, more resources than expected, and several iterations to fully realize the benefits of cloud computing. If not planned or executed properly, companies often experience downtime, inefficiencies, and fail to achieve their desired results. A survey by Accenture found life science companies the lowest in achieving their desired innovation, data access, and analytics goals from the cloud. Moreover, less than half (43%) said they were very satisfied with their cloud outcomes achieved to date.

For those reasons, we’ve created a guide on maximizing the value of cloud migration for the life sciences.

In our guide, we discuss:

The most commonly overlooked cloud computing costs for life science companies and common cost-saving pitfalls.

A framework for evaluating and choosing the provider that best meets your unique business requirements.

How to capitalize on the array of products and services offered by cloud providers (like machine learning and AI) to accelerate commercialization.

And much more

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In ICE'S Ultimate Guide to Maximizing the Value of the Cloud

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International Organization for Standardization (ISO)

ISO compliance is achieved when an organization meets the requirements outlined in a specific standard developed by the International Organization for Standardization (ISO). ISO has developed thousands of standards that cover all areas of business. These ISO frameworks are used by organizations to embed internationally standardized business practices.

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Health Insurance Portability and Accountability Act (HIPAA)

Compliance with the U.S. Health Insurance Portability and Accountability Act (HIPAA) requires companies that deal with protected health information (PHI) to have physical, network, and process security measures in place and follow them. HIPPA laws are a series of federal regulatory standards that outline the lawful use and disclosure of protected health information in the United States.

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Health Information Trust Alliance (HITRUST)

The Health Information Trust Alliance (HITRUST) is a non-profit company that delivers data protection standards and certification programs to help organizations safeguard sensitive information, manage information risk, and reach their compliance goals. HITRUST stands out from other compliance frameworks because it harmonizes dozens of authoritative sources such as HIPAA, SOC 2, NIST, and ISO 27001. It is also the only standards development organization with a framework, assessment platform, and independent assurance program, which has helped drive widespread adoption.

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Clinical Laboratory Improvement Amendments (CLIA)

Clinical Laboratory Improvement Amendments (CLIA) of 1988 contains the Code of US Federal Regulations that govern any entity that returns patient test results for the purposes of caring for that patient. CLIA ensures that there is a standard of quality associated with test results across laboratory testing performed on specimens from humans such as blood, body fluid, and tissue, for the purposes of diagnosis, prevention, or treatment of disease or assessment of human health. This ensures the accuracy, reliability, and timeliness of laboratory test results regardless of where the test was performed.

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National Institute of Standards and Technology (NIST)

NIST was created to improve U.S. innovation and competitiveness across industries “by advancing measurement science, standards, and technology in ways that enhance economic security and improve our quality of life.”
Today, NIST remains one of the nation’s oldest physical science laboratories with a focus on three core competencies:
1. Measurement science
2. Rigorous traceability
3. Development and use of standards
NIST’s technical contributions to the development of information security standards have saved private industries more than $1 billion and drive consumer and business confidence.

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General Data Protection Regulation (GDPR)

The goal of GDPR is to provide more stringent data privacy and security measures and more user-friendly disclosures and reporting on data protection practices. The regulations aim to allow individuals to control the use and storage of their own data, including any personally identifiable information.

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Sarbanes-Oxley Act (SOX)

The Sarbanes-Oxley (SOX) Act of 2002 was passed by the United States Congress into law to cut down on corporations that took part in fraudulent financial reporting. The act was passed on July 30 and its main intention is to protect investors. It’s regularly referred to as the SOX Act of 2002, and it includes strict reforms to previous securities regulations. By mandating these reforms, lawbreakers were now subject to stricter and tougher penalties.

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Service Organization Control 2 (SOC 2)

SOC 2 is coveted and hard to obtain information-security certification, and it demonstrates that an independent accounting and auditing firm has examined an organization’s non-financial reporting control objectives and activities. The auditing firm tests our controls over time to ensure that they are operating securely and effectively. Developed by the American Institute of CPAs (AICPA), SOC stands for Service and Organization Control. It defines criteria for managing customer data based on five “trust services principles” — security, availability, processing integrity, confidentiality, and privacy.

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