CRM for Medical Device Manufacturers and Distributors
Customer relationship management solutions not only accelerate your sales but also help in keeping your existing customers happy. Faster acquisition and lower attrition mean rapid increase in your customer base. It serves as a single platform and gives you an end to end visibility on prospects, doctors and distributors as well as their constantly evolving needs. Results are increasing gross sales and better margins.
A medical devices company can benefit immensely from a CRM solution. What is unique about this industry vertical is that it consists of a mix of both high value / low volume sales and low value / high volume orders. This is primarily so because initial sale of medical devices may easily be in tens of thousands of dollars, the accessory orders will be lower value but higher in number. At the same time competition is high and end customers are highly educated.
CRM features relevant for a Medical Device Manufacturer
Whereas CRM in general is a good investment for all industries, let’s explores CRM features specific to Medical devices area. Hence, if you belong to this domain, the following are your use cases for leveraging CRM and making your business more efficient.
Doctors and Health Care Providers Database Management
Independent database providers can give you a list of registered practitioners and health care providers. You can import the same in a CRM software so that you have can have all the updated contacts in a single place. This can help you in having complete visibility at an account as well as contact level. So even if your sales reps change tomorrow, you can still see entire history and commitments made with that business partner.
Efficient Lead allocation and shorter time to Quote submission
When a practitioner contacts you, he may be reaching out to your competitors as well. It is important to channelize your leads to the respective sales rep in an automated manner who can then immediately discuss the needs and submit appropriate quote. If you have prices set up in CRM, then it is easy for the sales rep to submit detailed quotation before your competitor does so. You can put approval process in Quote submission to ensure that deviation for margins is taken care of and additional commitments are reviewed.
Effective Campaign and Channel ROI Analysis
Having all potential customers also help you in running targeted campaigns and increasing the visibility of any new product that you may have launched or a promotion which you may be currently running. A CRM helps you track expenses, sales and returns on investment figures with regards to a specific campaign. Hence, you can review all your marketing spend and concentrate your time, effort and money in the channel which is yielding the best results.
Improved Medical Device Warranty management
Technicians and service staff have better visibility of installed base and breakdowns and their urgency for their respective accounts on the go. You can make their lives simpler by having automated process and workflows which notify them and enable them to prioritize their daily activities. It also helps them to review service contracts, log in their billable service hours and part consumption so that the customers can be invoiced accordingly.
Some medical device companies that we helped disrupt their markets.
See how we addressed typical challenges and helped these two companies improve and automate their processes with leading CRM solutions.
|Florida based Ophthalmic Device Manufacturer||Europe and Asian Medical Device Distributor|
Established in 1967 and headquartered in Florida, Marco Ophthalmic serves government, institution as well as private Ophthalmologist. It manufactures and distributes devices with advanced vision-diagnostics technology.
With 9 USFDA, CE approved manufacturing facilities and 50,000+ installs, Trivitron has had dramatic success in a relatively short span of time considering that it was established only in 1997.The company deals in devices around Imaging, Diagnostics, Critical Care and Operating room solutions.
|Challenges||Due to ever expanding operations, there is a need to control sales processes and enable accuracy and prediction into sales volume.||With a vast spread of sales rep in Asia and Europe, the company needed a salesforce automation platform which would work even in remote areas with limited data services.|
|Solution Implemented||Designed a complex Quote Approval process.
Building shipment and invoice objects to trace a Quote through its Invoice and its clearing status.
Migration of historical Assets into Salesforce.
Automatic flagging of customer credit status based on account receivable status.
Integrating ERP for Products, prices and Quote Sync.
Enabled commission calculation for sales people.
|Account and Contact Management Product Division-wise.
Opportunity management and loss analysis.
Quote management and conversion to an order.
Integrating with SAP ECC for an end to end visibility.
Warranty management along with service orders.
Mobile APP and SMS based information exchange.
Created a custom self help portal for customer.
|Business Benefits||Quicker and accurate response to new opportunities.
Process automation using complex workflows.
Precise forecast and pipeline management.
Better control on incoming payments and open items.
IT preparedness for Scale able sales operations.
|Better control on sales operations considering the geographic spread.
Efficient sales planning based on pipeline data from CRM so that important opportunities could be focused on.
Shorter response time in attending to customer service calls.
Better warranty management of parts.
How we can help
Having worked with several clients in this domain, our consultants can conduct workshops over web so that we can together design the sales process according to suggested best practices. This process is usually carried out in the following steps.
Discovery Workshop and KPI identification
You have in-depth idea of your business and we have IT and domain knowledge. We can layout your business process matrix and detail them at 4 levels of granularity. Our pre-configured assessment questionnaire can accelerate this process and finalize the solution we are going ahead in minimal iterations. We also identify what are the KPIs you want to achieve by CRM implementation.
Build and Test
We build the CRM and tailor it your needs. During this time your power users are testing the application and able to adapt to the new environment. Their involvement early in the game drives CRM adoption.
With you business process and platform chosen, we would identify the gaps and ensure that they are bridged by doing configuration and customization to the CRM application. A blueprint document will contain the details containing customization done. This provides a reference for future upgrades. Completion of this phase also means solution is almost complete and may merely need fine tuning.
Analyze and Innovate
This ongoing process ensures that our consultants monitor the application and suggest you with their analysis on how we can innovate and make things more efficient.