Making Sales Efforts Count
To ensure their efforts were aligned with goals set each month, Torrent Pharma's Sales team manually extracted the sales performance data from the SAP system in excel and shared the downloaded files with reps.
These files captured the data effectively but were not too helpful in providing insights to its reader at first glance. Medical Representatives found it difficult to interpret rows and rows of data due to a lack of analytical skills and time constraints from back-to-back meetings.
Tracking and evaluating their business development efforts while shuttling between maintaining existing clients and pursuing new ones became an impossible task. This was a lagging indicator of why the on-field salesforce was unable to respond swiftly to market changes due to interpretation of complex data and the absence of actionable recommendations to inform and support decision making in real-time.
- Significant manual effort and time spent generating data-intensive files
- Lack of data interpretation caused by data illiteracy and time constraints
- Absence of insights, trends around potential growth opportunities
- Lack of visibility into high ROI and incentive-driven doctors
- Potential for improvement in data presentation, performance monitoring, and evaluation
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Improved visibility into the Sales Cycle
To seamlessly assess the performance of each medical representative and drive organizational growth, the leadership team zeroed in on Phrazor, a smart insight generator tool. Phrazor provides early indicators and actionable insights from data, that can be understood even by a non-data expert and utilized for decision making.
- Phrazor enabled the Sales team to produce comprehensive reports, with dynamic commentaries providing meaningful insights to each medical representative in near real-time
- The reports contained in-depth, personalized, written narratives which provided a detailed overview of sales performance benched against targets set, and also a comparative medical rep performance
- The reports provided visibility into the average number of doctors and chemists approached over the phone and that visited in-person in a given month
- The reported numbers helped the reps assess their performance in different divisions, categories, brands, and medicines
- They could also closely monitor the outcome from meetings and interactions and focus on sources with high ROI
- Phrazor helped generate actionable recommendations within the reports based on prescriptive analytics, informing each Medical Representative on what their next steps could be to tap into growth opportunities
- 4500+ personalized, insightful reports distributed monthly to Medical Representatives
- Phrazor insights and reports, written in easy-to-understand language, could be accessed on the dashboard and also sent to individual Medical Representatives over email
- Efficient and meaningful reporting enabled seamless performance evaluation at scale
- It empowered Medical Representatives to use data to their advantage without having to interpret it
- Reporting automation eliminated manual labor and saved 584 man-hours per month in time and effort spent on report extraction, data analysis, and data interpretation
- The report provides critical insights on sales, brand-wise analysis, effort analysis, customer revenue, and ROI analysis
Torrent Pharma is one of the leading players in the Indian Pharma Market with a strong international presence across 40 countries. The company has an extensive domestic network in India comprising 6,200 personnel catering to 1.70 lakh doctors; 23 sales divisions targeting diverse customer segments through 5000+ stockists; 59,000 retailers serviced through 22 distribution centers across India.
A vital component of this vast field force is the Medical Representatives. They are entrusted with increasing product awareness and driving sales through numerous meetings with doctors, pharmacy owners, clinic managers, and nutritionists.