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. Pharmaceutical Inventory Management
Inventory management is an imperative process including the cautious monitoring of every pharmaceutical product from its incoming at the warehouse to its departure. This practice enables for the consistent tracking of inventory trends within the warehouse. Although, depending on spreadsheets for inventory management could be cumbersome and prone to mistakes. To acknowledge such issues, introducing specialized pharmaceutical inventory control software that detects inventory leads, orders, and sales demonstrates to be an efficient means of maintaining business activities.
Maintaining an effortless distribution process is imperative, as any hiccups or bottlenecks during distribution can lead to the receipt of subpar products and are detrimental to a company’s reputation. Introducing a Customer Relationship Management (CRM) solution regulates the management of the overall distribution process. Such assures on-time replacement of expired inventory in clinics, hospitals, and further healthcare facilities. Efficient distribution and inventory management guarantee the on-time delivery of medicines to the accurate places at the right times.
In cases of any complaints or bottlenecks, identifying and acknowledging them becomes straightforward. The CRM solution allows a comprehensive oversight of the inventory procedure, granting awareness of when expired inventory requirements are replenished in hospitals, clinics, and healthcare facilities. Accordingly, Pharma CRM demonstrates instrumental in reaching the appropriate people at the accurate time with systematic data by offering:
- Centralized Information management
- Channels for monitoring inventory
- Streamlined inventory management processes
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.
Etc etc…..
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
1. SalesBabu MedSFA: MR Reporting
The Sales Force Automation (SFA Software for pharma) solution helps the MRs to manage –
- Doctors
- Chemists
- Hospitals
- Stockists
2. Doctors Info Management
The Doctors Info Management helps to manage complete information of doctors like –
- Name
- Address
- Contact number
- Specializations
- Departments
- Availability hours/ visiting hours
- Birthdays
- Special occasions etc
3. Channel partners Management
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.
4. MIS and Reports
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
5. Expense Management
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
Conclusion
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.
