A drug is a chemical substance that is used to diagnose an ailment. A drug goes under various clinical trials and checks. May it be a drug research or manufacturing it is a costly expenditure. The pharma industry concentrates over providing vaccinations for various diseases and problems.
Let us know more about generic drugs and pharma.
What is generic drugs?
A generic drug is a medication similar to that of the brand- named drug that is already marketed. These generic drugs have the same dosage, effects, side effects, safety, risk, performance and use. The only characteristics that the generic drugs differ from the brand named drugs may be manufacturing process, formulation, colour, taste and packaging. These generic drugs are cheaper than the brand named drugs and also easily available.
Though these generic drugs are similar to the branded drugs, people believe in few myths that these generic drugs may not be as effective as the branded ones. Thus, it experiences huge competition in the pharma industry.
Generic pharma drugs are cheap, easily available, and cost-efficient to manufacture. These drugs are comparable to branded drugs which are expensive and difficult to procure. If their benefits are more that means there is an intense competition to get maximum patients and shares among the generic pharma players. CRM is the answer to get ahead of this competition.
Do you want to know how you can stay ahead in this competition of Generic vs. Branded?
Pharma CRM is the best answer or a strategy to overcome the competition. The 3 simple secrets to stay ahead in generic pharma competition using the CRM solution are –
1. Lucrative database
The pharma CRM helps you to maintain the overall database of doctors, chemists, hospitals, distribution channels, health care centres etc. And the best part is all the information is available on a single platform that is available at anytime and anywhere. When all the data is available on a single platform it becomes easy to increase the customer awareness about the generic drugs. Every data will be at the fingertips of the executives which also reduces the operational costs.
Read our blog – 8 Ways CRM Software Can Help Reduce Costs for Your Business
2. Inventory management
Inventory management is a process of tracking every product or drug of the stock as it is brought or as it has left the warehouse. This process helps to monitor the inventory trends in the warehouses. But, maintaining inventory through spreadsheets are surely going to be hectic and there are chances of errors. Hence, implementing an inventory control of Pharmaceutical software that tracks the inventory leads, orders and sales etc can be an effective way of managing your business activities.
Any trouble or bottleneck during the process of distribution will lead to the reception of poor products and damage of reputation. CRM solution will help to manage this whole process so that you are aware of when the expired inventory needs to be replaced in the clinics, hospitals, etc. Effective distribution and inventory management will help to deliver all the medicines at the right time and right places.
Incases of any trouble or bottlenecks, it can be spotted easily and required changes can be made. You can also manage the whole inventory process and be aware when the expired inventory is required to be restocked for hospitals, clinics and healthcares etc. Thus, the Pharma CRM will help you to reach the right people at the right time with the right source of data as it provides-
- Centralised data
- Channels for tracking
- Streamline inventory management
Read our blog – 5 Ways to Boost Your Inventory Management Systems
3. Work productivity
Your med reps i.e, the MRs are the ones who create a bridge between the clients and your product. They take the responsibility of representing your company to the hospitals, doctors or chemists etc. Enhancing the work productivity of your MRs becomes very important.
You would have seen that your MRs are the ones who work hard morning and evening at various hospitals, clinics and health centres in different places as per the planned tour plans (monthly tour plan). They need to have a huge knowledge about the overall data and prepare reports at the end of the week/month. And preparing these reports are one of those time consuming tasks where the MRs spend a lot of time. They need to manage the calls and mails as per priorities which makes it possible to reach the right clients at the right time. And much more tasks to the list.
Thus, the best way to organise and manage work productivity of your MRs is by implementing the Pharmaceutical software/pharma sfa. It helps to –
- Manage monthly tour plan
- Provide reports about DCRs(Daily Call Reports), tour plans and performance reports to the managers or higher authorities. Basically, the managers can also track their MRs and know what their MRs have done the whole day.
- They can access overall data and information with just a click at any time or any place.
- Manage sales target and product order booking efficiently.
- Manage sample and gift inventory
- Manage pending enquiries with their sources. It can be helpful in evaluating the sources usefulness.
4. Regulatory adherence integration
So many generic pharma companies lack an effective regulatory process of integration. This will slow down them in getting the approval for their medicines, clinical trials verification results, etc. With the help of CRM solutions, companies will integrate regulatory processes that aid hassle-free processes from manufacturing to distribution. The integration will lead to faster processing speed which will allow you to bring your medical products in the product before your competitors.
5. Centralized information system
A centralized information system is vital for the pharma industry which will increase the awareness in the customers about their products. Branded companies have the power of a large budget for advertising purposes. So generic players can utilize the CRM solutions to manage the flow of information to the doctors, hospitals, and clinics. This solution can also be used to track MR productivity to determine the most productive representative and reward them or train accordingly.
Read our blog –Productivity Rules for Employee Efficiency
Features in SalesBabu Online Pharma CRM
The Sales Force Automation (SFA Software for pharma) solution helps the MRs to manage –
The Doctors Info Management helps to manage complete information of doctors like –
- Contact number
- Availability hours/ visiting hours
- Special occasions etc
Management of channel partners becomes easy as the online pharma CRM –
- Helps to efficiently manage channel partners like stockists, distributors, dealers etc.
- Tracks further follow ups.
The MIS and Reports helps to generate various reports pertaining –
- Daily activities
- Follow ups
- Reminders of important dates and schedules
- Dailycall reports
- Orders, sales and delivery
- Facility to download reports in excel formats
- Performance reports
- Manage pending enquiries
The expense management lets you to be aware and also manage the expenses like –
- Dearness allowance (DA)
- Travelling allowance (TA)
- Number of kilometers travelled
- Other overhead expenses (OHD)
Read our blog – CRM for Pharmaceutical Industry | SalesBabu CRM
The above 3 simple secrets to stay ahead in the Generic Pharma competition using a Pharma CRM solution will assist you in getting the best out of the Pharma CRM. It basically plays a role of a business strategy to help the Generic Pharma to increase prescriptions, ensure better sales and delivery, maintain good relationship with the clients in order to reach them at the right time, get ROI (Return on Investment) because they invest huge amount for the manufacturing and maintenance and builds trust etc.
Though you are a generic Pharma you can still stay ahead in the competition with branded Pharma and lead the race for the longest of time. If you follow a few essential tips like – see to that personalizations are able to fit into your business, get a CRM software from a trusted pharma CRM vendor, Check out for demo or free trials and lastly choose the right CRM software for your Pharma and grow your business efficiently. If you are still not using a Pharma CRM, get your Pharma CRM at SalesBabu medSFA software. You can visit our website https://www.salesbabu.com/ and to request for a free demo.