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Why should you outsource Application Support on a managed services mode ?

Technology is spreading its wings everywhere like wildfire and BFSI is not an exception to this. Rapid strides in Technology have resulted in exploring outsourced services & resources to render efficient service to customers. Is it necessary to outsource services, given the strong and well-trained workforce available in sectors like BFSI ? While I agree that staff available in BFSI are knowledgeable in handling domain related services, but their technical skills and experience may not…

Do you have multiple specialties, and yet a “one-size fits all CRM” probably meant for Primary Care?

I had a visitor the other day: head of a company that has a few specialty business divisions, including Oncology. I asked him: what brings you to Bangalore so often? And he said he has been personally visiting Bangalore once a month for the last 4 months, with a view to visit a large Cancer hospital, to win the account. It was yet to happen. That set me thinking. It is obvious that Specialty business…

Security and Pharma CRM/SFE

Before I expand on Security aspects of a CRM/SFE application, let us look into some basic questions. Security – What is it? All customers are aware of it. Security – Needed? All customers will of course agree Security – Criteria for vendor evaluation? Not always Some Pharma companies of course have a stringent process to evaluate the vendor and the offering on various information security parameters. Some companies opt for own server which is not…

CRS Compliance Procedure for Entities – Pre-existing Accounts

Needless to say, Common Reporting Standard (CRS) Compliance by Financial Institutions is a statutory requirement.The regulation encompasses Due diligence completion and reporting of Financial Accounts of Individuals, Entities and Controlling persons of the Entities with the foreign resident status of a CRS jurisdiction. The procedure for Due Diligence of Individuals is relatively simple compared to that of Entities as it requires several checks to be carried out before arriving at the reportable status of the…

Why should a Pharma Company work with a specialist CRM vendor?

I have been associated with the Pharma industry globally, for a number of years now, as the CEO of a company that is focused on providing CRM and SFE solutions to the Industry. When I look around, three things strike me. Large ERP vendors who also have a CRM, do not seem to succeed as much in the CRM space, as in the ERP space. SAP is an example. Most leading Pharma companies use a…

Going beyond CRM to an SFE solution

In the Pharma industry, when it comes to software solutions, I have seen these two terms, being used interchangeably. Is that correct? Can all vendors providing solutions to the industry’s sales force, claim that their solutions are SFE solutions? CRM stands for Customer Relationship Management SFE stands for Sales Force Effectiveness To me, an MR or Area Manager or anyone in the sales organization needs to have good Customer Relations to be effective, but that…

Due Diligence for FATCA_CRS Compliance – Challenges for Reporting Financial Institutions and the Remedial Measures

Challenges: Each country desires its residents to be tax transparent and in the process the statutory authorities introduce multiple due diligence procedures to be adopted by Financial Institutions (FI). These procedures vary from time to time depending on varying demands either from local government or from Global practices. The compliance rules/procedures imposed by tax authorities of different jurisdictions have thrown challenges for the Financial Institutions in implementing such procedures on the account holders especially the…

Top 4 Challenges in FATCA-CRS Compliance in India

While Reporting Financial Institutions in India are gearing up to identify reportable account holders, complete due diligence & data remediation, they are encountering the following challenges: 1. Individual Reportable Account Holders: While there is a threshold for FATCA reportable individual account holders (USD 50000), there is no such threshold for CRS reportable account holders. This has ballooned the number of reportable account holder’s manifold, resulting in avoidable pressure on RFIs to complete documentation/self_certifcation, remediation and…

Get more out of your CME s

Governments all over the world are increasing the regulatory aspects governing ethical promotion of pharmaceutical products to healthcare professionals. It is no different in India. In this backdrop, Continuing Medical Education (CME) is gaining more and more importance, and hence the need to maximize ROI on CME s through use of software and technology “Continuing medical education consists of educational activities which serve to maintain, develop, or increase the knowledge, skills, and professional performance and…

FATCA Regulations – All about blocking of non-compliant account holders

In a meeting held on 5th June 2017, CBDT (Nodal Authority) gave a final deadline and finer definitions on what is to be blocked, when it will be fully effective and all; let us examine what really is the ground level situation in case of account holders on-boarded under the Alternate Procedure. 2. What is the significance of Alternate Procedure? Accounts opened under the Alternate Procedure: Actually such cases refer to account holders (and not…