Essential software for pharma companies in 2024

In one of my recent polls, I asked about the most essential software for pharma companies in 2024, and here's what I got:     

Thus, in this article, I will definitely cover the topic of CRM solutions for pharma, as well as mention others: from BI and digital marketing tools to supply chain management (SCM) software, because a robust software infrastructure is the cornerstone of a thriving pharma business.   

So, let's start with CRM, the option that gathered the most votes in the poll.  Frankly speaking, it's no surprise to me because building and maintaining strong relationships with healthcare professionals, distributors, and other stakeholders is paramount for pharma. CRM software has become an indispensable tool for pharma companies in managing these relationships and analyzing customer interactions throughout the entire lifecycle.   

In a survey conducted by Pharma Tech Outlook, it was found that 85% of healthcare professionals value personalized communication from pharmaceutical companies. CRM tools, such as Platforce , play a pivotal role in meeting this demand. The platform's data-driven capabilities enable pharma companies to analyze vast datasets, ensuring that communication is not only personalized but also timely and relevant.   

CRM tools equipped with advanced analytics empower sales teams to make informed decisions, resulting in a 15% increase in sales productivity, as reported by Salesforce. And according to McKinsey, 72% of pharma executives emphasize the importance of data-driven decision-making in sales force effectiveness.    

Another aspect to keep in mind is compliance and reporting. 

I found exciting statistics by the Pharmaceutical Research and Manufacturers of America (PhRMA): implementing CRM systems has led to a 25% reduction in regulatory compliance issues for pharmaceutical companies. And we've heard numerously from our clients that Platforce's accurate tracking and reporting functionalities played a pivotal role in ensuring adherence to industry standards.     

Now, proceeding to BI tools.  

BI tools transform complex data into easily understandable visualizations, such as charts and graphs. This facilitates quicker comprehension of trends, patterns, and outliers, empowering decision-makers to act swiftly, which often puts pharma companies at an advantage, as good timing is crucial.   

This brings me to another great benefit of BI tools - real-time analytics. This allows companies to monitor market trends, track sales performance, and adjust strategies promptly in response to changing conditions.    

Finally, the predictive capabilities of BI tools are worth mentioning. In 2024, the interest in predictive algorithms will only grow, after all, it's one of the general trends in tech nowadays. And BI tools equipped with predictive analytics algorithms will help pharma companies forecast demand, identify potential opportunities, and mitigate risks. Moreover, I think that BI tools will play a vital role in drug development, helping companies analyze clinical trial data and streamline research processes.   

I often mention the endless customization capabilities of our team, and a great deal of this customization is for dashboards. The Platforce team utilizes PowerBI for that purpose, and we have a range of professionals who make magic on demand of our clients.     

Moving on to the marketing aspect of pharma companies, I've found a study by Statista which reveals that 87% of pharmaceutical marketers believe that multi-channel marketing significantly enhances their overall marketing effectiveness. Digital marketing tools like HubSpot Marketing Hub, Adobe Marketing Cloud, MailChimp, etc, enable pharma companies to reach a wider audience through diverse online channels, increasing brand visibility.   

According to a survey by eMarketer, 65% of pharmaceutical marketers cite data-driven insights as the most significant benefit of using digital marketing tools. So once again, we're back to the importance of real-time analytics, which enables pharma companies to optimize campaigns, ensuring efficient allocation of marketing budgets.   

Content marketing as a part of digital marketing efforts contributes to the increased engagement of HCPs, which in turn promotes pharma companies as trusted industry leaders. By the way, Platforce 's integration with eWizard (content authoring, content reuse, and repurpose solution) and Navigate (digital asset management and tagging system) enables pharma companies to run flawless end-to-end content management processes with approval.     

Efficient supply chain management is critical for pharmaceutical companies to ensure the timely delivery of products while maintaining quality and compliance. In 2024, supply chain management tools will see advancements in automation, real-time visibility, and risk mitigation features.   

These tools enable pharma companies to optimize inventory, track shipments, and collaborate with suppliers seamlessly. With the integration of IoT (Internet of Things) technology, supply chain management tools can provide real-time monitoring of temperature-sensitive pharmaceuticals, ensuring product integrity throughout the distribution process. Furthermore, blockchain technology may be incorporated to enhance transparency and traceability in the supply chain, addressing concerns related to counterfeit drugs.     

In conclusion, CRM, BI, digital marketing, and supply chain management tools have become indispensable for pharma companies looking to innovate, adapt, and thrive. As digital transformation continues to unfold, the integration of these software solutions not only streamlines operations but also positions pharma companies to respond proactively to market dynamics, regulatory changes, and emerging opportunities.