New strategy review from HBS Consulting shows how the winners in this field are implementing systems and strategies that give them a clear competitive advantage in many key areas
"Poor information and cumbersome processes can seriously hamper a company's sales and service operations." This is one of the conclusions of a new strategy review from HBS Consulting.
The report, 'Customer relationship strategies in the medical device industry - the role of CRM and knowledge management', shows how the winners in this field are implementing systems and strategies that give them a clear competitive advantage in many key areas.
This highly focused report shows that throughout Europe the dynamics of purchasing are changing dramatically.
Clinical efficacy is no longer the sole driver of choice.
Increasingly pricing, as well as the need to meet guidelines and conform to protocols, hold sway.
Clinicians no longer keep the keys to the coffers.
The new gatekeepers are administrators and committees that manage purchasing agreements and heed the organisational needs of national healthcare systems.
New realities must be met with new strategies.
In this case, the twin disciplines of customer relationship management (CRM) and knowledge management (KM).
The HBS strategy review shows, in detail, how the most successful companies are implementing new CRM strategies to leverage their knowledge and customer relationships.
For many companies the knowledge they need exists within their business.
What they lack are the resources to capture it, manage it and capitalise on it.
Leading companies, such as Siemens, have put in place systems that seek to detect new trends in customer preference and purchasing habits.
Powerful analytics of this kind can only become a reality when data is warehoused in a central repository to which all parts of the organisation contribute.
When all the business units who need it have access to this information, in real time, the benefits begin to accrue dramatically.
Such competitive advantages, the report shows, are not just a matter of software and systems.
It details the changes in corporate culture that are required to take full advantage of CRM and KM.
The report also places emphasis on methods of identifying the barriers within the enterprise, which prevent the adoption of appropriate strategies.
It stresses that improving knowledge and relationship management requires a "champion" of the process who acts upon a clear and direct vision, based on goals that can generate a visible return on investment.
The bottom line for the companies who get it right is the ability to deliver an improved customer experience, to accelerate innovation, to predict the course of change, to drive down costs and to increase revenue.
However, 'getting it right' depends on the kind of knowledge and insights that HBS Consulting delivers in this strategy review.
It arms readers with the information they require to ask the right questions and make sound judgements.
Detailed case studies, from a large variety of enterprises of all sizes, illuminate the critical aspects of planning and delivery.
A rigorous analysis of many systems and methods brings clarity to the decisions that must to be taken.
'Customer relationship strategies in the medical device industry - the role of CRM and knowledge management' will be of particular value to business development, marketing and top line personnel who are seeking to gain competitive advantage through enhanced knowledge and relationship strategies.
A free executive summary of the strategic review is available from HBS Consulting.
