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Author's profile photo Carol Mackenzie

Delivering Increased Profitability at Lowest Risk for Life Sciences Companies

Following years of growth and favorable market trends, the global life sciences industry now finds itself facing a challenging “new normal.” A changing health care landscape, expiring patents and generic competition, pricing pressures, heightened regulatory scrutiny, expansion into emerging markets, increasing alliances and acquisitions, and a persistent economic slowdown are prompting global life sciences companies to adopt new business models. These new models are designed to counter slowing sales growth and declining profitability and deliver better patient outcomes at a lower cost.

How can a life science organization simultaneously support strategic goals of growing the business, optimizing new market operations, scaling global resources, contribute to cost efficiency to improve margins, provide insights to innovation, boosting employee engagement, and improving efficiency require a robust customer engagement and commerce strategy? Is it even possible? At SAP, we know it is — customers are doing this today.

With an advanced customer engagement platform, business results such as these may be realized:

  • Drive greater profitability through improved customer engagement, optimized inventory, and reduction in call center reliance
  • Increase revenue growth through a seamless user experience that will enable more online sales, improved conversion rates, and larger order sizes
  • Mitigate commerce risk through a single, integrated omni commerce platform that incorporates product catalog management and customer service, without reinvestmentIt’s time for Life Sciences companies to recognize that B2B improvements are readily obtained with huge benefits. As with many other industries that have lead the way improving relationships with business partners, life sciences companies can increase efficiencies while building intimacy with personalized B2B portal capabilities. The opportunity to provide greater depth of medical content, for providers, and support their ordering/billing needs via self-service capabilities, is here today and making a difference at life science organizations around the globe.

Medtronic is one of the world’s largest medical technologies companies. With six business units that develop and manufacture devices and therapies to treat more than 30 chronic diseases, they are using SAP® Hybris® Commerce to connect customers to the right product, therapy and content via digital solutions. They have gained new marketing insights regarding patients and customers as a direct result of using the solution.

Alcon, a subsidiary of Novartis based in Hünenberg, Switzerland, is the world’s largest vision care firm. The company is using the SAP® Hybris® Commerce solution to support a digital strategy for improving sales engagements with customers, providing cross-sell and up-sell opportunities, and servicing customers more effectively through fully integrated omnichannel support. With SAP Hybris Commerce, the sales team can access order histories in real time, offer the right products to its customers, increase revenue, and improve customer engagements. Alcon has seen an estimated 22% gain in employee efficiency since putting SAP Hybris Commerce in place. “The level of flexibility and agility that SAP Hybris brought to the table was a  deciding factor,” says Julie Collins, Alcon’s director of global digital marketing. “Every piece of vital information that a customer would want is available to them in real time, whether they want to access it from a desktop, or on a tablet, or any of their other mobile devices – that flexibility is provided for them… we can better use Big Data to fuel outcome-based thinking.”

Let me know how we can help you improve your B2B operations, today! I look forward to hearing from you.

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