Digital change in a global healthcare company
Fireside chat with Bayer’s Jessica Federer and W2O Group’s Annalise Coady at the 2nd Annual #PreCommerce Summit in London.
At last year’s W2O Group’s London Summit, Jessica Federer talked about the origins of social intelligence and the need for Pharma to adapt to digital changes. Today, she shares insights of her one year journey in her new role as Chief Digital Officer at Bayer.
Bayer’s Biggest Transformation in 150 Years
In the last year, Bayer went through the biggest transformation in 150 years, incorporating digital into its DNA: a top-down, CEO-prioritized digital strategy. This change has been implemented with a digital council, a digital circle and digital transformation teams. According to Jessica, priorities lie with the creation of digital structures, enabling great people to do great work. In other words, the secret for digital transformation is money and people.
While not naming explicit inspirational companies, Federer highlights the impact of partnerships with big, established digital leaders that help Bayer find specific solutions. Equally important are cooperations with start-ups, such as “Grants4Apps”, an accelerator program by Bayer that gives start-ups a space for collaboration – currently one of Jessica’s favorite initiatives.
Lastly, Jessica Federer provides two health-care insider treats; the first being the importance of reading The Economist and The New Yorker, but also Vanity Fair, as digital transformation is driven by society and cultural trends. As her second “audience treat,” Jessica spills the secret that despite strict healthcare regulations, talking to regulators will drive innovation, as they want to innovate just as much as you do. Nonetheless, it is crucial to “follow the rules”.
Stopping the focus on digital
Ultimately, Federer hopes to soon end this newly adapted focus on digital. She continues to explain this seemingly paradox statement: “What you do well, goes away,” meaning that digital transformation teams won’t be necessary once all marketing becomes digital and a natural aspect of Bayer’s business.
About Jessica Federer
Jessica Federer works at Bayer, a global enterprise of 113,000 people focused on advancing ‘Science For A Better Life’ through health care, agriculture, and high-tech polymer materials. Within Bayer, Jessica has held positions in Regulatory Affairs, Market Access, Communications and Public Affairs. She received her Master of Public Health degree from the Yale School of Public Health, and her Bachelors of Science from The George Washington University. Originally from St. Louis, Missouri, Jessica now lives in Dusseldorf, Germany. Jessica is passionate about translating digital developments into public health advancements, and is an avid supporter of global childhood education.