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Pharma

Productivity growth hacks for Pharma companies

Processes in a Pharma company is not only exhaustive but complex and tedious in nature. Millions of lives are dependent on pharma companies making the medicine right and making it available at their nearby Chemist. In a Pharma company, there can be no product defects since there are lives dependent on the medicine. Over here, using an ERP for the company becomes very essential. Not only to have smooth operations but also be a market leader by studying the market and analyzing the data.

 

Here are some productivity hacks for Pharma companies.

 

Standardize your processes

With so many stringent compliance requirements and process sensitive business model, need for standardizing has become paramount. Only mom and pop shops can survive with legacy practices and people dependent practices rather than practice dependent people. Compliance to more and more business standards attract both investors and consumers towards your business and have proven direct impact on top lines.

 

Select a system that fits your business

The principle of one size fits all can’t be implemented when it comes selection of specialized, highly sophisticated, high investment business software systems like ERP. You would find hundreds of proven, vertical specific or locally developed systems that worked for multitude of businesses, but still might not be a best fit for you. Finding a system that fits your business is critical.

 

Understand the Vendor and their business model

Often times you might get confused by the use of marketing terms like SI, BP, Distributor, Development Partner, Channel Partner and Sales Partner. Not all of them will give you same results when it comes to your software implementation and delivery. The rule of thumb is to find a vendor that has maximum benefit from your business as a client and has his core focus on you.

 

Build an internal team

Investment not only in terms of money but also resources like building a strong internal team with prior exposure to such projects will go a long way during and after deployment of new business systems. This team should consist of strategic thinkers, process consultants lead by business owners. Involve this team at each stage of project since the selection till support and enhancements.

 

 Compliance

Compliances are very important for any industry and the same goes for Pharma companies. Companies should look forward to automate their compliance system to make processes faster and smoother. Easier approval systems, lesser navigation and storage of documents in Cloud format are some success factors which the company can benefit from.

 

Marketing and Sales

Marketing and Sales are an integral part for selling in a Pharma company since the campaigns and sales are mostly B2B and direct. The effort, time and resources involved are a lot and hence, the ROI has to be properly measured against the result so that any leakage can be avoided. For a Pharma Company, bringing all the processes on one platform so that there is a single view of outgoing efforts and incoming results will be beneficial. Interactive dashboards, Social CRM integration, reporting will help the company to gain the maximum out of their Marketing and Sales effort.

 

For more information how can you add a catalyst to your growth story, get in touch with our expert consultants on +91-731-423 7548, +91-91111 00862 you can also send us an email at [email protected] for a free consultation.