A debate always ensues whether a specialized CRM for a particular industry is worthwhile. But, don’t you think every industry has specific problem statements.
Just like, no standard suit is perfect for everyone.
Similarly, we cannot compare the challenges and hindrances faced by say, the pharma machinery industry, and the event marketing industry.
Their area of operation, the system of business process, and sales pipeline issues are varied and pertinent to their sector.
But every industry ultimately aims at customer satisfaction. CRM-Customer Relationship Management provides exactly that.
edge CRM caters to multiple industries. Still, we provide industry-specific answers to every sector.
We are proud to be associated with some of India’s leading pharma machinery industries.
While developing this article, I could envision their specific problems and how we are able to provide them with the exact solution.
So, I have listed out some specific challenges that the Pharma Machinery Industry faces.
- A longer sales cycle leads to higher leakages in the sales funnel
- Proposal creation & management is a time-consuming activity
- Multiple types of proposal templates is a requirement
- Managing TAT for customer complaints
- Managing AMC & warranty contracts
- Tracking consumable business
- Visibility of the Lead to Installation cycle is a challenge.
Having a specialized CRM with the solution in the above pain areas will certainly help pharma machinery companies to enhance efficiency and increase customer satisfaction levels.
Let us dive deeper into these problem statements and I will try to provide a clear solution-oriented view for them.
Longer sales cycle leads to higher leakages in the sales funnel
This problem comes to the foremost when analyzing the hindrances of the pharma machinery or the medical equipment manufacturing industry.
Long sales cycles lead to opportunities missout, lack of follow-ups, and lag in service assistance.
The last thing your business needs is losing out on interested customers due to unattended transactions.
edge CRM very innately aids you here in safeguarding your sales funnel from the slip in crack issues.
Foremost, edge CRM is a personal assistant to your salespeople. edge’s smartly designed calendar and task management systems streamlines your salespeople’s day in and out.
Secondly, edge CRM is a cloud-based centralized data storing system that facilitates secure access to critical customer data from anywhere at any time.
With edge’s mobile-based application, salespeople have a handy provision to update their meetings, customer information, and tasks whenever required.
This convenience ensures no negligence at any stage of the sales pipeline.
Proposal creation & management is a time-consuming activity
Out with the old, in with the new!
Gone are the days of creating proposals manually.
Proposal or quotation creation is extremely time consuming and is a mundane task which the salespeople are usually wary of.
What if I tell you that we have reduced our salespeople’s proposal creation time by 80%!
edge CRM offers an intuitive proposal builder to ease you of this task. Drafting a proposal is a matter of a few clicks only.
Adding products and services, editing the proposal, downloading the pdf copy is possible in an instant. Additionally, you can check the status of all the proposals to get an overview in a single frame.
Salespeople have reported that proposal creation is no more a daunting task. They now have extra time on their hand to concentrate on customer relationship building.
Multiple types of proposal templates
Along with manual proposal creation, writing an email is also a thing of the past!
With extremely customizable and easy to adopt email templates, salespeople can get in touch with the clients within seconds!
edge CRM’s in-built Smart PDF Builder can help the creation of purchase orders, proforma invoices, tax bills, and more in custom-built template designs.
Editing proforma date, terms, and conditions, payment terms, tax percentage is very easy and avoids errors.
With segmented email templates and meticulous calendar management, teams can improve productivity many folds, signifying more relationship building and less downtime!
Managing TAT for customer complaints
For a pharma machinery manufacturer, it is necessary to create a quick-response approach to customer interaction to increase the prospect to customer conversion ratio.
Effective handling and a specified Turnaround Time (TAT) should be incorporated to ensure customer satisfaction at every stage of the sales process.
With edge CRM, customer communication, interaction, and query resolution at every level of the sales pipeline is guaranteed.
As per a market study and customer data research in edge CRM, we have witnessed a 40% increase in response time to prospects and clients. This is possible when the sales and services are duly aligned and provisions for timely escalations are provided.
edge’s Case Management helps you to log every complaint or request raised by customers, to put every action taken on it, and to calculate the TAT.
edge CRM records, collects and analyzes every customer complaint, and creates auto escalations and reminders.
Timely complaint resolution creates goodwill with your customer and the sales and service teams remain perfectly in sync.
Managing AMC & warranty contracts
The ‘Annual Maintenance Contract’ for a pharma machinery industry is to be strictly adhered to, to stay true to the legal formalities with your customer.
How exactly does edge CRM help you with your AMCs?
edge’s Contract Manager administers your Annual Maintenance Contracts, Software Licenses, Warranty contracts in a simpler way.
edge CRM reminds the service team of upcoming and due renewals of AMCs and warranty contracts.
Quick and timely follow-up with the customer is assured to avoid any last-minute inconvenience.
Tracking consumable business
With the pharma industry going through paramount changes, an upsurge in the pharma machinery industry is definitely expected. Having said that, if there is no planning for these milestones, it can wreak havoc on the manufacturing process.
A CRM system can pinpoint these critical junctures and ensure all hands are on board and each team is proactive and market-ready.
edge CRM empowers you to identify the right opportunities, strengthen internal expertise, and leverage relationships to drive revenue growth.
It provides you with an intelligent system to forecast would-be buyers and give you a clearer picture of what to expect.
Simply put, edge CRM offers multiple Key Performance Indicators( KPI ) cards, to understand your business performance and track upcoming business. This aids the decision-makers to foresee opportunities, deals in progress, and past wins to simplify setting precise goals for the future and pinpointing productivity bottlenecks.
Visibility of Lead to Installation cycle is a challenge
With longer sales cycles, comes the challenge of overall sales pipeline visibility. All of our pharma machinery customers have adapted the edge CRM model as a strategy to understand their sales process, internal team workings, and of course, their customer behavioural patterns.
At its best, edge CRM gives you a 360 view of your business right from the customer inquiry stage to service resolutions with in-depth reports of all the intrinsic details.
With edge CRM’s customer scorecast, you get a holistic view of each and every customer’s interaction and dealings with your team, enabling you to deliver higher value to them through timely communication, fast responses, on the point delivery, and also personalized products and service.
Using analytical functions and AI-driven techniques, edge CRM helps the pharma machinery industry to gain valuable insight about the customer and improve customer retention.
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CRM and Indian Pharma Machinery Industry
While India is the world leader in generic pharmaceuticals production, it is also a major vaccine producer exporting to over 150 countries.
As per Indian Pharma Machinery Manufacturers' Association (IPMMA), the estimated business revenue from this sector which includes processing, packaging, utility equipment, and other ancillary products is around Rs.1500 crores out of which Rs.200 crores account for exports.
Indian manufacturing industries should gear up for a major demand and should start adopting new technologies that will make them market ready for the upcoming future.
Customer Relationship Management applications can revolutionize your processes and help you in creating a brand name as you adapt to this new environment and strive to provide a unique experience for their customers.