Improving the performance of medical representatives by providing instant visibility into their sales data in an understandable format.
CLIENT: AN INDIAN PHARMACEUTICAL COMPANY
USE CASE: MEDICAL REPRESENTATIVE PERFORMANCE REPORT
Marking a significant presence on the global map with its operations in 40+ countries and a turnover of Rs 7673 Cr, this Pharma giant has proved itself as one of the preeminent players in the Pharmaceutical Industry. With over 2000+ product registrations, the company has a strong holding in the therapeutic segment of cardiovascular (CV), central nervous system (CNS), gastrointestinal (GI), women healthcare (WHC), diabetology, pain management, gynecology, oncology, and anti-infective segments.
With a vast field force of around 6200 medical representatives catering to 170,000 Doctors, the Pharma major owns a wide customer coverage through 5000+ stockists and 59000 retailers serviced through 22 distribution centers across India. To drive organizational growth and seamlessly assess the performance of each medical representative from a bird’s eye view, the company aspired to establish an efficient reporting system.
Assessing Data Understandability Concerns
Playing a vital role in the sales cycle, Medical Representatives are constantly caught up in meetings with doctors, stockists and retail pharmacies. To make sure their efforts are aligned with the set objectives, every month the team would manually extract the sales performance data from their SAP system and share it with the medical representatives in the form of excel workbooks.
These reports lacked understandability. With minimal data expertise and time limitations, the Medical Representatives were unable to evaluate and derive learnings from it. Amid maintaining customer relationships, bringing new business and other high priority tasks, keeping a track of the existing clientele performance became a challenge. Thus, leading to unaccounted doctor visits and a drop in the ROI.
Additionally, the data extraction process also required adequate manual efforts which proved to be cumbersome as well as highly time-consuming.
Key Problems Identified:
- Lack of data expertise hampering understandability and consumption abilities.
- Lack of meaningful insights caused hindrance leveraging growth opportunities.
- Missed doctor appointments due to inefficient data management and monitoring.
- Inability to keep a tab on high ROI and incentive-driven doctors.
Re-imagining performance evaluation with Natural Language
The business leadership team discerned a need for a methodical and proficient reporting solution that could communicate meaningful insights from high voluminous datasets in an understandable manner. And for this, the pharma major chose Phrazor, a natural language generation platform that transforms complex data into narrative insights.
- Phrazor enabled the Pharma company to identify their KPIs and produce comprehensive MR reports for each medical representative at the speed of thought.
- The MR reports generated were accompanied with in-depth personalized written narratives, making the analysis much easier and more understandable for non-data experts.
- The medical representatives could have a detailed overview of their sales performance w.r.t their set targets and monthly credit notes. To build a healthy competitive edge, the Med Reps could analyze their performance against their colleagues, all in the form of simple and easy-to-comprehend bullet points.
- Phrazor empowered the Med Reps to evaluate their performance more efficiently with language-based insights, in terms of average no. of doctors and chemists approached on call, no. of doctors visited in-person, and no. of VIP doctors visited, in a given month.
- The Med Reps could make a note of their performance against different divisions, categories, brands, and medicines. They could also keep a close tab on the performance of high incentive-driven doctors and the no. of meetings they missed, hence avoiding loss in revenue.
- Phrazor also helped in generating actionable recommendations in the MR reports based on predictive analytics, empowering them to know their next course of action for tapping into growth opportunities.
How the Pharma company leveraged the natural language generation platform, PHRAZOR?
- Seamless and efficient performance evaluation of thousands of medical representatives at scale.
- In-depth customer revenue and activity analysis of ROI as per Doctor’s Grid.
- Increased data literacy and understandability among the medical representatives.
- Elimination of manual labor involved in report extraction, analysis, and interpretation.
Saved every month in report generation
Consumed actively by medical reps
To consume insights – SMS, Email, dashboard & App integration