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What CRM options should Indian Medical Devices companies look for?

Over the last several years, I have had close connections with Indian Medical Devices and Pharma industries. While Pharma industry has a choice of CRM software solutions, Indian medical devices industry seems to have struggled to find the right software solutions. First, let us understand the categories within medical devices industry. We can broadly classify the industry into 4 segments. Industry segmentation: Consumables: All the consumable products that hospitals use, from Cotton to Surgical sutures….

Wave 3 CRM solutions for Pharma: It is all about benefits

It is not often that we can talk about waves of automation that come in such quick succession. That is what is happening in Pharma CRM and SFE space. The time gap between these developments is reducing rapidly, throwing significant challenges to the software industry that serves Pharma. “ Traditionally, Pharma has been slower than FMCG in IT adoption. However, things are changing rapidly now. We are ready to absorb anything in IT that can…

Are US Pharma companies set to optimize investments in CRM software?

US Pharma industry has always been open to adopting state of art technology solutions to improve sales force effectiveness. Many large companies have adopted multiple solutions to address all their needs around CRM. They are however realizing that the total cost of ownership (TCOs) of the software investments made, are getting to be disproportionate to the benefits derived. This, combined with the fact that product margins are under severe pressure (partly due to onslaught from…

OLAP CUBES FOR SALES “MIS” IN KEA

Definition of OLAP cube: Refer Usage of OLAP cube for Sales MIS in Kea: We used cubes to implement Sales MIS module in our product Kea. Process of the implementation is explained in the following sections: As for an example, we may have the following dimensions in a warehouse for keeping master and transaction sales data. Zonal Data (Location) Product Data(Master Key) Customer Master(Master Key) Year Month Sales(Primary & Secondary). That layout (a 5D “cube”)…

Should Pharma companies prepare better for UCPMP?

UCPMP, (Uniform Code for Pharmaceuticals Marketing Practices) is a subject that has been around for over one and a half years now. This was issued by Dept of pharmaceuticals in Dec 2014 and is meant to be adopted by Pharma companies voluntarily. Since Dec 2014, there has been an expectation in the industry that this will transition into an ACT on the lines of two highly powerful acts in the US i.e. Prescription Drug Marketing…

What do large Indian Pharma companies look for in a CRM solution?

Introduction Any large IPA (Indian Pharmaceutical Alliance) company is usually equivalent to the size of 10-15 mid- sized pharma companies put together, in India. Because of the size of the operation, their requirements on CRM are more complex and advanced as compared to SME companies in this industry. So, what is so different in the way these large companies look at CRM? Let us consider the following matrix of characteristics of a typical IPA company…

Financial Services – Technology Trends in 2016

Financial Services industry is at the cross roads of the ‘next era of digitization’ as more and technology advancements stand in queue for acceptance. Banking domain, specifically, has always been open to technology inclusions in their product, services and process activities in its quest to enhance customer experience and thus their bottom lines. Over the last decade, with technologies such as mobile and online banking maintaining the status quo, new innovations are making inroads in...

CRM tools for Pharmaceuticals – A Perpetual Evolution Story

Implementation of CRM tools as a strategy has evolved beyond just capturing daily call activities. With ever evolving challenges, especially faced by Pharmaceutical, Medical Devices and Life Sciences companies, CRM implementation in these sectors have taken unprecedented importance. These firms face many challenges both internally and externally – increasing price sensitivity among customers, rising competition, increasing regulatory scrutiny, coping up with ever increasing channels to reach out to potential customers, and more. Such developments, no...

Tracking only “effort” of MR s without tracking “results” in a CRM software is like batting without looking at the score board in a T-20 cricket match

I have seen many CRM solutions that Pharma companies are using – including some popular global solutions that MNC s typically use. What is striking about them is that most of them go to great lengths to incorporate CLM (Closed Loop Marketing) and perhaps also tracking all the “effort” from the field force. However, not many have built-in “results” tracking (Sales and prescriptions). This, to my mind, is akin to batting (especially in a T-20...

First Line Manager-Key to better sales force efficiency

Every time we think of the sales team of a pharmaceutical or medical device company, undeniably the first set of people that come to our minds are the field reps or the medical reps who belong to the bottom of the pyramid. Medical Reps are the ones who are directly in touch with the doctors. From a CRM perspective, they are important since they play the role of data gatherers in a company – their...