8 Attributes that can reduce business costs of Pharmaceutical company

Reduce pharma marketing expenses

India is the world’s fourth largest producer of pharmaceuticals by volume, accounting for around 8% of global production accounting for around 8% of global production.

Traditional marketing methods and channels are cumbersome and less cost effective. This cumbersome method affects sales employee management. Due to lack of proper tools of employee management, pharmaceuticals sector facing issues with sales employee attrition and higher marketing costs.

Below are the 8 attributes that can boost the productivity of the medical representatives and reduces the cost of Pharmaceuticals marketing.

1. Effective management of employee tasks

More often, we see pharmaceuticals sales representative’s visit a doctor to market their product. It is quite often seen that different employees of the same company visit the doctor; this not only confuses doctor but also increases the cost significantly.

Proper planning of employee tasks and distribution of the works as per their location helps employee reduce their travel. This will reduce the cost of marketing, but also helps the productivity of the employee.

2. Field Employees Attendance management

Traveling employee always face issues with the attendance, Pharmaceuticals employees still stick with traditional systems or depend on oral communications.

With the advent of technology and mobility, GPS based attendance system can dramatically solve the attendance issues of Pharmaceutical sales employees.

3. Real-time supervision

Many times Pharmaceutical sales representatives fail to impress the doctors due to lack of proper supervision and training.

With technology that can help provide real-time supervision to Pharmaceuticals sales employees helps attain more customers.

In Pharmaceuticals sector one employee is allotted to market one product at a time and they are trained accordingly. This lead too many Sales representatives of the same company visiting the same doctor.

This not only wastes the time of doctor but also increases the marketing cost as well. Training one employee for more than one product marketing together with the real-time supervision will greatly enhance the chances of reaching targets and reduces the cost incurred on travel reimbursements.

4. Reimbursements

 Reimbursement and compensations are one of the main reasons behind high attrition rate of Pharmaceutical sales employees. In Pharmaceuticals sector Travel reimbursements are applied traditionally by paperwork’s and this is leading to many mistakes while processing reimbursements of Pharmaceutical sales representatives.

By automating the distance calculation together with the payroll integration of the reimbursements can give a full stop to paperwork’s involved with travel reimbursements.

5. Payroll Automation

 Confusion with attendance and payroll is the major issue that Pharmaceuticals sector is facing while managing their Sales employees.

A GPS based attendance system that can Integrate with the existing payroll process will solve all the issues related to attendance of sales employees.

Payroll integration avoids delays in salaries for PharmaceuticalsSales employee and avoids human errors while processing payroll.

6.Field notes and reports

Field notes and attribute of sending/ receiving reports in a real-time help to sell smarter by unlocking the power of analytics in selling situation in Pharmaceutical marketing. This will also help to capture and use information gathered in the field to optimize resource allocation, cross-sell and asset utilization.

7. Enterprise Application Integration(CRM, HRMS etc)

CRM or other enterprise tools are less helpful for the sales employees. They are more of management tools just because of the remote nature of sales employees.

The tool that can integrate the sales and marketing process of the Pharmaceuticals employees will assure the bi-directional flow of communication between the Medical Representatives and physicians, also track, and record metrics of all interactions.

8.Personal notifications

Relevant customer and employee segmented notifications and messages will act as a personalized content for the medical representatives. This will help exchange communication between employee and management. This will also help to get updates on the probable safety of a medical representative.

Conclusion

Employee task management together with planning, task shuffling and attendance system reduces the travel for the employee thereby saving cost for the pharmaceutical company. Payroll integration can eliminate the confusions associated with travel reimbursements. Enterprise integration with respect to sales employee will benefit the employee and increase productivity. Field notes and the custom notification will help track and record all the interactions of the medical representatives.

 

 

 

 

 

 

 

 

 

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