Industry Insights

MEDICAL DEVICES INDUSTRY

Develop confident sales performance management strategies to motivate rep behavior, fuel productivity, and drive business growth.

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Medical Device & Diagnostics

The medical devices industry is highly intricate and constantly evolving. It faces constant macroeconomic pressures and hosts a dynamic customer and product portfolio. Due to the underlying complexities, the selling process can be under-rewarding. Limited facetime in today’s virtual world creates a hurdle for medical device sales teams to meet targets and optimize sales performance. Companies need to prioritize Sales Performance Management (SPM) to succeed in the highly competitive market. Accurate planning, communication, and execution of sales operations are critical to ensure Salesforce Effectiveness (SFE) in the medical device industry.

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Challenges Impacting The Medical Devices Industry

Stringent Regulatory Environment
  • Stringent compliance and audit requirements​
  • Outcome based contracting models
  • Increasing cost pressures
Complicated Sales Process
  • Demonstration and service oriented selling​
  • Demand for clinically and technically skilled reps​
  • Complex sales crediting rules​
Data Complexities
  • Disparate and disjointed data sets​
  • Lack of formalized sources of data​
  • Large unstructured data sets​
Dynamic Customer Base
  • Multiple selling contact points​
  • Paradigm shift towards virtual sales channels​
  • Relation-based purchase decisions for certain products​
Volatile Product Portfolio
  • Intricate product hierarchies​
  • Rapid product innovation​
  • Fast product obsolescence​

Our Solution

Axtria’s SPM solutions, powered by Axtria SalesIQ™ – Axtria’s integrated cloud-based product suite, can manage the end-to-end sales planning and operations workflows from segmentation to incentive compensation, with complete audit trails for compliance. They can drive sales force behavior to achieve strategic goals and company vision while improving productivity across various sales and support functions, including sales field and management, human resources, finance and accounting, compliance, customer service and success, and account management.

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End-to-end medical devices sales performance management

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Differentiators That Uniquely Define Us

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Proven partner for global life sciences companies
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Deep domain-driven data and analytics expertise
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Life sciences-savvy seasoned workforce
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Proven product-suite and analytics COE models
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Experience across multiple commercial functions
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Agility and quality – right the first time

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