The pharmaceutical industry has taken the center-stage during the COVID pandemic. Earlier this week, Paramantra onboarded a customer looking to manage their distribution network and latency in customer engagement for their OTC lifestyle and wellness range of nutraceutical product offerings. Our client is based out of Mumbai, India, and has implemented Paramantra to create a platform to seamlessly communicate with its customers and distribution network. We are solving issues related to order management and tracking, marketing, field sales efficiency, and ensuring their end consumers stay on track with their course of medication. From Pharmaceuticals to Medical Devices, Paramantra cares about Healthcare. Here’s a brief overview of core business issues that we are helping our client overcome.
Our customer gets inquiries from both new and old distributors, wholesalers, and retailers. Additionally, there is a lot of interest from end consumers in their wellness range of medication. Their primary challenge was to reduce complexities in lead management. Using our robust and adaptive pipeline management capabilities, we have been able to create simple and effective processes for both on-boarding a partner as well as addressing questions of prospective consumers. Both of these processes have distinct “deal closure” stages that have been incorporated to cover all aspects of their processes.
Most of the medications are often subscription-based, that end consumers need to re-order. Other products are lifestyle in nature – in other words, they form a part of consumers’ daily lifestyle. Our highly versatile CRM system is able to predict the consumption pattern and re-order date of these medications and send notifications for a re-order. Additionally, we also use this to automatically forecast demand scenarios. This forms the basis of production planning, that not only gives insight into upcoming production and product mix, but also expense and cost analysis.
Partner Order Management
Since our client’s offerings are non-prescriptive in nature, stores order stock based on prior history of sales. To simplify this process, we have implemented our order management module that any partner can use to place an online order through web, call or initiate by sending a text message. Order registration, confirmation, dispatch, and delivery stages are automated covering 3 different teams as well as the recipient and originator of the order.
Due to increased awareness of lifestyle and wellness products, there is a lot of demand from the market for nutraceuticals. Our customer gets almost all inquiries via social media marketing efforts. With Paramantra, they are able to easily track all their marketing inquiries, and attribute them to campaign-wise ad spend. With our solution, they can also identify and churn non-converting inquiries. To churn these inquiries, we have created a comprehensive 360-degree follow-up cadence mechanism that suggests the appropriate method to follow-up (via periodic calls, emails, and text messages) based on prospects’ responses and engagement level.
Outside of this implementation, we are researching, developing and expanding our solution to cover and detail several different processes. The next level of our product refinement for the pharmaceuticals and life-science industry will include greater automation in areas of partner management, community awareness, peer-to-peer referral sales as well as subscription management.