Deliver rapid business outcomes with purpose-driven commercialization solutions.
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Provide a connected selling experience, from planning to support, on a unified platform to fast-track value and drive quicker business results. Take engagement to the next level and close more business with AI-driven actionable insights.
The MedTech industry has always been on the cusp of innovative technology for healthcare, with the usage of robotics, nanotech, and AI to build life-saving devices. Today, more than ever, MedTech organizations are under tremendous pressure to discover innovative ways to connect and advise everyone they serve faster and more efficiently – and through multiple channels during the age of COVID-19.The pandemic fortified existing trends, such as the necessity for boost efficiency, bolster device effectiveness, and deliver a higher ROI. MedTech companies are now facing new demands to work with healthcare organizations in a hybrid environment. Medtech companies are also embracing innovative patient engagement models to support healthcare providers, both during, and post treatment. They need to be flexible to meet the dynamic and rapidly changing needs and expectations. And most of all, they also require a holistic view of data, facilitate collaboration across teams, and the requisite digital tools.
That’s where an all integrated CRM platform like Salesforce comes into play. More than forecasting and managing customer contacts,
Salesforce securely connects data from disconnected systems and delivers a unified experience to providers, patients, and partners on their channel of preference. This enables MedTech businesses to connect teams, integrate different data sources across existing systems, and deliver intelligent insights.
Let’s explore how Salesforce helps Medtech companies drive business excellence, streamline innovation, deliver tailored experiences, deliver value, and boost efficiency.
Drive business excellence with digital, connected experiences
Seles models were adapting to change even prior to the pandemic. The only change now is that pace has accelerated. Consolidation amongst hospitals with adoption of enterprise-wide subscription-based models started to happen. Today, purchase decisions are moving faster now. And safety protocols are resulting is sales teams virtually interacting with decision makers. On top of that, tighter budgets means healthcare providers are now more demanding. They expect the devices they buy to deliver improved patient outcomes at a lower cost.
To move forward, it is imperative that medtech businesses have a holistic view of their customers to better understand their needs and consequently provide personalised engagement and service.
The Salesforce platform acts as a knowledge-sharing center, enabling sales teams to drive business excellence by taking advantage of a 360-degree customer view while working off the same platform.
Streamline your technology
Many MedTech organizations depend on multiple technology systems that don’t always work well with each other or deliver an engaging customer experience. Standardization of data from legacy systems on a unified platform helps make information easier to manage.
Salesforce solves this problem of dealing with multiple systems and consolidates data by seamlessly integrating data from existing solutions. Salesforce Customer 360 connects all touchpoints of the customer journey. These include manufacturing, supply chain, marketing, sales, clinical and service. With a unified view of all data, businesses get better visibility and are able to maintain relationships better across the business. Not only that, it also delivers consistent, personalized experiences.
A flexible and scalable platform like Salesforce accelerates business excellence, fosters collaboration, and empowers teams. Not only that, you can also build on top of the Salesforce platform with new functionality with new apps, for internal staff, partners or customers. This allows you to:
Take advantage out-of-the-box services. Easy to use drag-and-drop functionality enables anyone on your team to develop apps without even writing a single line of code.
Drive innovation. Stay focused on high-value projects with available and tools and apps.
Drive governance and compliance. Out-of-the-box functionalities like integration and identity services ensure app development follows requisite guidelines.
Advise customers with actionable insights
Those tiny moments matter the most. That’s when access to accurate information is critical – whether you’re a physician in the middle of a procedure, a staff member who needs to transfer stock, or a patient beginning their treatment journey with a wearable device. With Salesforce, reps can access valuable, actionable data and insights from a single platform to best serve customers in a connected and intelligent manner. That lets MedTech companies act at speed and scale.
The starting step to accomplish this is to aggregate data. Salesforce pulls in information from across the ecosystem so that everyone has visibility into:
Real-time sales information that delivers production, marketing, and service team needs
Research and development processes that impact production, quality assurance, and licensing
Patient and clinical staff feedback that boosts evolution of devices and services
Integrates Artificial intelligence that delivers critical data analytics and insights. These insights include predicted outcomes, recommended course of action, and automated workflows. From a single console, teams can deliver simpler, smarter and faster interactions.
Start selling smarter and drive ROI
In the fast-changing Medtech industry, businesses must meet increasing customer expectations for better patient outcomes and improved ROI quickly and efficiently. Digital tools accelerate the sales cycle and deliver critical insights in an agile framework, even while working in virtual or hybrid selling models.
Salesforce delivers a 360-degree view of customers and provides teams with deeper insights into customer activity and subsequently drives value. AI-based intelligence predicts sales activity, forecasts growth, and reveals areas of opportunity. When sales teams can personalize interaction and sell proactively, businesses can foster deeper relationships and build customer trust.
With Salesforce Customer 360 you can:
Get next best actions. Teams can access each customer’s detailed account history for accurate forecasting along with recommended next best actions. AI can prioritize sales activities and spot new opportunities to help close deals faster.
Stay close to current and prospective customers. Reps can increase the reach and frequency of selling activities, thereby improving account and territory performance and later assessing effectiveness based on insights from flexible dashboards.
Gain real-time insights into market conditions. Reps can compare territory performance with forecast and industry data in a real-time view.
Quickly onboard new team members. New reps can train in a centralized location for sales and enablement.
Salesforce speeds up the procurement cycle and helps reps stay close to current customers while prospecting new ones.
Improve engagement with personalization
Medtech businesses were already becoming more involved in the patient journey by providing services that helped patients use devices properly. But in 2020, the ability to engage virtually became even more valuable as HCPs adapted to remote patient monitoring during the pandemic. In addition to telemedicine and hybrid treatment models, digital tools that engage patients before, during, and after care are poised to become the norm.
Salesforce enables medtech organizations securely log patient information and facilitate virtual, hybrid, and in-person treatment. For example, patients can request data to stay better informed about their health and actively involved in care decisions. Patients can also access product details on mobile apps and community websites and connect with other patients with similar health conditions. This creates peer to peer personalized experiences at every interaction point.
In one example, a remote monitoring sticker helped medical professionals track the symptoms of sick patients recovering at home. With Salesforce, their agents could answer questions about the device from patients who were reaching out to the company directly. The 360-degree view enabled agents to create a case and provide streamlined services.
Salesforce Customer 360 captures contact information and communication preferences to keep everyone up to date on new products and solutions. This also allows Medtech businesses to nurture prospective patients by guiding prospects to the right products.
What’s next?
The pandemic may have changed how Medtech organizations engage with providers and patients, but customer-focus is still at the heart of everything they do. Salesforce Customer 360 is far from your traditional CRM: You can connect teams and integrate data on one flexible, secure platform and deliver a unified experience for providers and patients alike.
Salesforce can help you go digital fast, accelerate value, and transform your business. With greater across the value chain, you can manage commercial processes, build provider relationships, and engage with patients in the most intelligent, efficient, and personalized way. This all leads to better outcomes for your business, your customers, and their patients.
Get in touch with a Salesforce Implementation Partner today.
Customer relationships are the cornerstone of an organisation's growth, and you need to nurture and manage them efficiently and smartly.
Salesforce is the world’s No1 CRM platform for businesses of all sizes. Salesforce provides out-of-the-box solutions that let growing businesses implement cutting-edge technology with minimum effort and connect all of the systems that are important to them. And has been recognised by leading user review organisations and industry analysts and as the market leader in CRM technology,
Before we go deeper into what CRM technology can do for you, let us answer the basic question – Does my business need a CRM solution?
If any of these is true for you, then the right CRM solution could make your job a whole lot easier.
1.You don’t have a single source of customer information.
Does your company have customer and order information in multiple locations? If yes, then that's one glaring reason why you need a CRM.
A CRM brings together all of your customer data from sales, marketing, service and support into one place allowing you to access, track, analyse, and act on it straightaway, from anywhere. If you store customer data in spreadsheets, then not just your sales reps but anyone who interacts with your customers is at a disadvantage. When information is modified in one system, other systems do not update automatically. There is no holistic, unified view of all of your customer data such as contact information, purchase info, and communication logs.
2. You have very limited visibility of customer interactions.
Do you have a complete, single view of all customer information? If not, then you don’t have insight into what your salespeople and customer support teams are doing. It’s hard to help your sales and service teams be successful and accountable if you’re not sure what they are doing.
3. Reports are tedious and painful.
Does your team go through the arduous process of creating reports manually? If that is true, your performance-tracking capabilities are extremely limited. You should be generating reports automatically and view real time analytics of your sales team’s progress versus their targets.
4. You’re losing valuable customer data.
IF you are not sure what you’re following up on, it is going to be very hard for you to schedule follow-up interactions with customers and prospects. If your interactions across touchpoints aren’t being tracked, important details get lost through the cracks, especially if a key staff member leaves your organization.
5. It’s challenging to stay in touch on the go.
Can you sales reps quickly and easily find the information they need to close a deal when they are in the field? When they are meet prospects and come across valuable information, does the rest of your organization have access to it? Information captured in handwritten notes and on PCs is a potential gold mine.
6. Every customer is treated the same.
Are your customers and prospects getting similar types of messages and offers from you? If that is true, you’re missing out on potential opportunities. You want the to be able to target prospects based on their industry, geography, and the value they can bring to your business to make the most of every interaction.
7. Can you scale fast?
If you company grows rapidly, can your business processes scale just as quickly as the demand? You cannot afford to let your own processes be the impediment to your success.
The year gone by (2020) had been extremely challenging, with the Covid-19 pandemic wreaking havoc on the lives and livelihoods of people. Most businesses were not prepared to deal with the challenges brought about by the pandemic.
Why Digital Transformation is a Must?
Businesses should bring a robust solution to fulfill their customers’ needs and expectations while meeting business objectives. Let’s analyze what has changed across different industries and how a robust CRM like Salesforce can help them keep up with the evolving requirements. Though the benefit of digital transformation is immense, it is essential to understand that digitization isn’t enough to keep businesses afloat during tough times.
Introducing an innovative solution while planning digital transformation ahead of time is necessary to drive progress. In other words, long-term planning is no longer a priority; rather, it has become a mandate as changes can happen overnight. Businesses should consider availing themselves of reliable Salesforce consulting services to know more about this platform.
Accurate Data that Powers Decision Making:
Access to accurate and relevant customer data is the secret sauce to a company’s success. With cloud-based software like Salesforce in place, organizations can gather and analyze customer data based on their behavior and preferences. The insights gathered can be used to adjust their marketing campaigns and improve products and services while allowing them to respond to their customers better. Such decisions will help them draw better results while fulfilling their business objectives.
Opportunity to work remotely: Though this approach isn’t applicable for all types of businesses, the possibility to work from home offers immense benefits for several companies. Consequently, during the global lockdown imposed due to the pandemic, employees could work remotely and access all the crucial corporate information they required easily. As a cloud-based CRM, Salesforce provides a single workspace where team members can access any data needed for working with partners, clients, and colleagues.
The connection between Employee and Customer Experiences: As discussed above, businesses need to develop innovative solutions to ensure that their people have access to everything required to ensure the smooth functioning of business, even during tough times. In other words, prioritizing the needs of your employees is equally important as your clients’ as satisfied and happy employees ensure better and increased performance and increased customer satisfaction rates.
Ways to Ensure Better Employee Productivity: Salesforce has introduced Salesforce Einstein Voice Assistant, an AI-powered technology that has helped businesses better connect with their customers and partners. Organizations can leverage the recent introduction of Einstein Automate to streamline their processes and automate mundane and time-consuming tasks. This helps in saving time, which can be used to do more productive tasks. Businesses should consider leveraging Salesforce integration services to integrate this robust tool within their business platform.
New Acquisitions and Growth Rate: Recent Salesforce financial reports reveal that the revenue for 2020 surpassed $17 billion with an annual Salesforce growth rate of around 29%. Moreover, with the new acquisitions made by Salesforce over the past few years, the platform is now positioned beyond a traditional CRM. It provides its customers with an all-in-one tailor-made solution to serve businesses of all sizes and across different industry verticals.
The Road Ahead:
Over the last couple of decades, Salesforce has come a long way from being a traditional CRM platform to an all-encompassing system that can serve the needs of businesses of different sizes and across various business domains. The platform offers a wide array of integrated solutions that allow companies to choose the components that best meet their needs. Given the wide array of features, functionalities, and components offered by Salesforce, it has become the go-to platform for sales and marketing departments of different organizations.
In today’s technology-driven era, the pace of innovation has never been faster. The digital disruption has significantly impacted the way businesses conduct themselves. In fact, businesses across different industry verticals have benefited from the wave of digital transformation. One such technology solution that has helped companies to transform their customer experiences while improving business process efficiency is the Salesforce CRM. As a cloud-based platform, Salesforce, with its wide array of features and functionalities, allow organizations to resolve their unique business challenges while remaining competitive.
In the manufacturing industry, Salesforce is the enabler that keeps the machinery moving. The Salesforce manufacturing cloud by Salesforce can be leveraged by manufacturing companies with forecast accuracy, collaboration, visibility, and streamlining processes. The cloud solution addresses the pain points of the traditional system by automating processes, which helps minimize cost and improve efficiencies.
The cloud platform offers features such as marketing automation, sales management, partner relationship management, and customer service. This powerful cloud-based offering assists companies in handling client accounts, conduct, track sales prospects, noticing marketing outreach, and offering after-sales service & support. To implement the Salesforce manufacturing cloud, organizations should consider getting in touch with one of the best Salesforce consulting partners.
Listed below are some of the compelling benefits offered by this robust platform:
Increased Sales: The ultimate goal of every manufacturer is to augment their sales and revenue by increasing their customer reach and engagement. Salesforce CRM collates all the crucial information, which can then be analysed to gain meaningful insights. The relevant information gathered by the robust CRM can be analyzed to draw actionable insights that can be used to take necessary steps for customer retention.
Improved planning: The CRM provides users with volumes of data that facilitate data analysis and planning. With the availability of clean and precise data, strategic planning can be done. Mundane tasks can be automated, and work processes can be streamlined, which improves overall productivity.
Enhanced Customer Satisfaction: With a robust cloud solution like the Salesforce manufacturing cloud, manufacturing companies can ensure better collaboration among all the departments. The empowering cloud solution can help companies deal with service and warranty-related issues. This will empower customers to be valued, which will pave the way for customer loyalty and satisfaction.
Expansion of Business: This cloud-powered CRM helps businesses expand beyond their local boundaries and customer base. Salesforce CRM enables the process of expansion by prequalifying prospects, focusing on potential clients, and ensuring better communication. Moreover, employees become more sharp and attentive with a Salesforce CRM by their side, which leads to enhanced business productivity.
Final Words:
Implementing Salesforce Manufacturing cloud within your business ecosystem can create efficiencies up and down the organization. While several manufacturers might be cautious of transitioning to new technology, the business benefits of deploying this technology are endless. Companies adopting Salesforce manufacturing cloud can help them stay competitive in a cut-throat business landscape. It is prudent to get in touch with a certified Salesforce consultant to know more about the Salesforce manufacturing cloud.
As a robust and cloud-based CRM (Customer Relationship Management) platform, Salesforce enjoys widespread popularity and adoption rate. Besides the wide array of features, functionalities, and components, Salesforce releases new products and features year after year, which sets it apart from its counterparts.
Consequently, those leveraging Salesforce must learn to make the most of this robust platform to stay ahead of the curve. For most customers, the idea of evolution requires comprehending how this platform can be utilized to increase ROI, and improve the bottom line. For this, both customers and internal employees need to be taken into consideration. The cost incurred as a result of poor customer experiences can be alleviated by optimizing Salesforce implementation and making the most of all the great features out there.
Listed below are some of the robust features of Salesforce that can increase the ROI. To make the most of these features, it’s prudent to get in touch with one of the best Salesforce implementation partners.
In-app Guidance: The in-app guidance feature offered by Salesforce provides employees with tips, walk-throughs, reminders, etc to help them navigate the system. This feature can be configured to showcase prompt messaging in the utility bar. To measure the efficacy of your implementation, data regarding the interaction between employee and guidance message is recorded. This feature improves the ROI of an organization by providing users with resources even before they feel the need to have one. This results in improved efficiency in terms of time and performance.
Salesforce Survey: This feature helps in gathering feedback regarding customer experiences around the product and services of a company by implementing a strategy for collecting feedback at any phase of the sales, marketing, and sales cycle. This feature offers a wide array of functionalities such as customizing email templates for workflows, automating the sending of a survey. Businesses can figure out ways to serve their customers in a better way by analyzing gathered survey data.
Social Studio: This feature helps organizations to communicate with prospects and customers on social media platforms such as Facebook, Linked In, Instagram, Twitter, etc. This feature helps organizations to connect with the sales, service, and marketing teams of their clients and helps employees to develop personal and decisive relationships with customers while communicating with them on their terms. Social studio helps users to understand the opinion and perception held by customers and prospects about the company while being able to respond via social platforms, track leads, and more. The social studio also helps to gather data-driven insights about customers and the way they engage with your social strategy. This will lead to the generation of qualified leads and sales opportunities with the highest probability of closure.
Command Centre: This is an advanced feature by Salesforce that envisages statistics as to how customers engage with a brand by allotting all touchpoints and evaluations under one roof. By centralizing real-time data across Sales, service, and marketing cloud, the Command center drives health statistics across all customer touchpoints. This feature offers users a peep into the resolution time of customer issues and efficacy of emails, ads, etc, which helps companies to accurately predict the best way of retaining and enhancing customer portfolios.
Final Words:
These are some of the many features that can be leveraged by organizations to increase their ROI. By optimizing Salesforce implementation, businesses can help remove bottlenecks from their operations while improving customer experiences by making the most of all the useful features. It’s important to seek assistance from a Salesforce consultant to know more about the features of Salesforce.
The Covid-19 has wreaked havoc on businesses across the globe. While complexities such as a shift in consumer demand, disruption of distribution channels, and unreliable data forecasting undermined some businesses; few others struggled to meet the sudden spike in demand for products that happened overnight. While new challenges arose as a result of the pandemic, the need to manage revenue didn’t change. Rather it has become more urgent now.
With tightening budgets, B2B buyers are looking for quick and flexible purchasing and payment options along with personalized and prompt services to adjust their contract rather than waiting for weeks. However, delivering on their expectation is difficult with multiple stakeholders and a growing network of partners and acquisitions. Apart from this, legal and compliance regulations around revenue reporting make precision critical.
Salesforce – a leading name in the CRM space has introduced Salesforce revenue cloud, which provides businesses the flexibility to make the process of buying quicker and easier, generate new revenue streams, and augment revenue efficiency across different channels. It does all this by bringing together CPQ and billing, B2B commerce, and partnership management. Since, revenue cloud is a part of the Salesforce customer 360 platforms; it will allow organizations to create a single source of truth by connecting their sales, operations, and finance teams revenue and customer transaction. To implement the Salesforce Revenue cloud, organizations should seek Salesforce support from a reliable service provider.
Businesses will be able to reap the following benefits by leveraging the Revenue cloud:
Transform the Buying Experience: The introduction of new B2B Commerce and CPQ connector helps in the customization of digital storefronts for complex B2B selling. Apart from this, functionalities such as customizable pricing to digital carts for a self-service experience for customers can be added. So, when a customer shares their specific needs, it becomes easy for sales reps to resolve their queries as they have access to the entire purchase history of customers. This will allow customers the ability to move across different sales channels with the help of sales partners and digital storefronts.
New Sources of Revenue: The implementation of revenue cloud empowers sales and marketing teams to form new revenue generation strategies including the launching of subscription packages, implementing pricing policies. The recent acquisition of Vlocity made by Salesforce adds to the workflows for revenue management. With the new Multi-Cloud Billing feature, organizations can create revenue streams by gathering data from other clouds on a single platform.
Augments Revenue Efficiency: The process of tracking revenue is manual, and time-consuming. Automating these processes relieves teams from the burden of manual transfer of crucial data between systems, data reconciliation, and approvals. Automation helps in commencing sales orders and consolidating invoices. These will do away with the issues relating to underbilling or making incorrect modifications to contracts.
The new Customer Asset Lifecycle management tool provides a visual dashboard of whatever a customer has purchased while keeping a record of all the amendments made in a contract over time. Apart from this, effective assessment against KPI’s such as lifetime value of customers, net revenue retention is beneficial for all the teams. This will help teams to make key decisions regarding cost- cutting and who to target now.
Final Words
Salesforce revenue cloud is another powerful addition to the cloud platform. This robust cloud solution allows businesses to track and report the generation of revenue with accuracy. The revenue cloud platform can help businesses accelerate growth by filling the gaps created as a result of lost revenue or improving on the areas where a business is doing well. Irrespective of the complexity of the business models, deals, or revenue processes, Revenue Cloud provides a single source of truth for transactional data. To know more about Revenue cloud, it’s important to get in touch with a certified Salesforce consultant.
Ever since its’ inception Salesforce has made several new acquisitions. With every new acquisition, the company is improving its performance. Its compatibility with the AI platform i.e. Salesforce Einstein is due to the 12 acquisitions that it made in the year 2016. All the acquisitions made by the company till date has made it compatible with all the latest technologies and applications, platforms, and business types. It is in your interest to partner with one of the best Salesforce consulting partners to know more about Salesforce and its collaborations.
Let’s take a look at some of the most successful and popular acquisitions made by Salesforce:
ExactTarget: This tool was acquired by Salesforce to expand its pre-sales and marketing department services. This robust application has become a popular business tool as it is comprehensive and can provide them with email marketing services. In fact, this tool empowers the core marketing functionalities of Salesforce and improves its marketing suite. The complete product suite can simplify many operations such as SMS, emails, digital advertising and more.
MuleSoft: The in-built API’s of this tool can be leveraged by organizations to build application network. Users of this tool can converse and exchange data with each other. Though, this acquisition had been one of the most expensive acquisitions, it provided Salesforce with a new direction by allowing it to provide enterprise-level solution to its users. The middleware connectivity offered by Mulesoft APIs helps enterprise to migrate to the cloud. This robust tool can provide organizations a complete view of their integration.
Tableau: The acquisition of this Seattle based company has been one of the most significant acquisitions as it has helped improve organizational performance considerably. Tableau is a robust and one of the best data visualization tools that has turned out to be extremely profitable for both companies. This acquisition has helped Salesforce users get access to user database of Tableau. With the help of Tableau, Salesforce users can know about their ambitious customers, which in turn can help them make intelligent decisions.
Quip: This document management tool is used to gather, amalgamate, and store documents and spreadsheets thereby improving efficiency. Though, document processing tools like spreadsheets aren’t preferred any more, users are familiar with them. Salesforce CRM spreadsheets can be stored on the cloud. Quip is able to provide bi-directional collaboration of document together with synchronized data from Salesforce. Quip users can send videos, texts, and images apart from simple documents.
Bonobo: This tool can help users to gain deep insights about customers in form of texts, support calls, speech and other modes of communication. Bonobo was acquired by Salesforce to support Einstein, which is an AI powered platform that uses its self-learning capabilities to support various business operations.
Griddable: This powerful tool helps in seamless integration of data across all cloud platforms of Salesforce. The tool offers users of Salesforce to get a grid view of data while ensuring smooth and quick migration of data. Salesforce users can access data from different sources and use it as and when required. With such availability of data, Salesforce has become a reliable CRM that can enable users to gather data from different sources and make the most of it.
Quick Wrap-up:
These are few of the many acquisitions made by Salesforce that are not just popular but also some of the most used ones. However, the list continues to grow as Salesforce is trying to team up with many more brands to provide better services to its existing customer base. To know more about the acquisitions made by Salesforce and the benefits that can be leveraged out of them, it’s prudent to seek Salesforce support from a reliable service provider.