Client
Empowering intelligent and streamlined clinical trials across 51 countries spanning 6 continents, our client is a leading American biopharmaceutical services provider. With a proven track record, they conduct clinical trials on behalf of pharmaceutical partners, playing a pivotal role in expediting the drug approval process. Generating over $2+ billion in revenue, our client is dedicated to advancing global healthcare through innovative solutions.
Challenge
The Business Challenges
In the intricate landscape of clinical trial planning, life sciences sponsors grapple with numerous challenges, from complex study requirements to global patient populations and constrained resources. The quest for shorter timelines intensifies these challenges.
Outsourcing to Contract Research Organizations (CROs) introduces an additional layer of complexity, notably in the time-consuming RFP and bid evaluation process. Variability in how CROs organize tasks can slow down evaluations, causing delays and resulting in multiple change orders.
Harnessing competitor and bid analytics emerge as a solution, offering quality bid intelligence. This will empower our client to assist its pharmaceutical partners in navigating challenges in tender submissions, prioritizing sales pipelines, aligning internal resources effectively, quoting competitive prices, and maintaining compliance with commercial and regulatory protocols.
Competitor and Bid Analytics Challenges
Inadequate Bid Intelligence Across Stages
- Limited Awareness: Insufficient insights during the awareness phase hindered strategic planning and impacted the overall understanding of tender requirements.
- Incomplete Planning Data: Scarce data impeded effective planning, leading to suboptimal strategies during the bid preparation phase.
- Tracking Challenges: Inadequate tracking capabilities hampered our client’s ability to stay up-to-date on project progress, causing delays and unfavorable outcomes.
No Comprehensive Stakeholder Evaluation
- Stakeholder Blind Spots: Incomplete insights into stakeholder dynamics resulted in missed opportunities and incorrectly tailored communication strategies.
- Limited Competitor Intelligence: Inadequate knowledge about competitors impacted our client’s ability to position bids effectively and anticipate competitor strategies.
- Imprecise Market Trends Awareness: Limited awareness of market trends hindered our client’s ability to align their offerings with current market demands.
Analysis Gaps in the Fulfillment Stage
- Response Misalignment: Limited bid intelligence during the fulfillment phase resulted in responses misaligned with client expectations and project requirements.
- Limited Post-Award Analysis: The absence of comprehensive post-award analysis restricted our client’s ability to derive insights for continuous improvement and future bidding strategies.
Solution
The Hexaware Solution
We formulated a strategy to create a tender management system and business intelligence framework.
Our aim was to minimize missteps in the tendering process—from awareness and planning to evaluation and decision-making to response, fulfillment, and tracking. Our goal was to increase data-driven decisioning for all the steps. We:
Enhanced Bid Intelligence
Introduced bid analytics across awareness, planning, evaluation, decision, response, fulfillment, & tracking stages.
Interactive Bid Intelligence Dashboard
Developed a real-time dashboard for immediate win-rate predictions and simplified decision-making.
Precise Right to Win (R2W) Framework
Introduced a precise R2W framework for data-driven decisions and strategy formulation.
Holistic View on Price Point Evidence (PPE)
Provided a comprehensive PPE view, empowering strategic bidding and improving overall competitiveness.
Comprehensive Bid Governance
Introduced a robust bid governance system for overseeing the entire tendering process seamlessly.
Pre-Award Governance
Implemented pre-award governance reporting, providing strategic insights and enhancing decision-making.
Hexaware’s integrated bid analytics, accessible at a click of a button, transformed bid governance, ensuring efficiency, transparency, and strategic insights throughout the tendering journey.
BI with Salesforce Cloud Services
Our team built the analytics solution with Salesforce Cloud Services. We successfully delivered the following outcomes by leveraging salesforce cloud suite, specifically – Sales Cloud, Salesforce Einstein, and Community Cloud – that helped with:
Streamlined Sales Processes: Sales Cloud optimizes sales workflows, enhancing efficiency in bid preparation, tracking, and response. It enables streamlined collaboration among teams, improving overall sales effectiveness.
Advanced Data Analysis: Salesforce Einstein, as an AI-powered analytics tool, enables advanced data analysis, providing actionable insights, at the click of a button, from bid intelligence. This ensured informed decisions.
Community Collaboration: Community Cloud facilitates seamless collaboration among stakeholders, fostering effective communication and knowledge sharing. This enhances bid governance, pre-award governance, and overall transparency in the tendering process.
Benefits
Improved Decision-Making
Enhanced bid intelligence and a precise R2W framework empower strategic decision-making, leading to more successful and competitive bids.
Efficiency and Transparency
Streamlined bid governance and pre-award governance processes improve efficiency and transparency, reducing delays and ensuring smoother project execution.
Competitive Bidding Strategies
Holistic views on Price Point Evidence (PPE) enable the formulation of more competitive and effective bidding strategies, increasing the likelihood of winning contracts.
Real-Time Insights
The interactive bid intelligence dashboard provides real-time insights, allowing for immediate adjustments and adaptations to changing project requirements.
Collaborative Stakeholder Engagement
Community Cloud facilitates seamless collaboration among stakeholders, fostering effective communication and knowledge sharing, leading to better-informed bids.
Revenue Optimization
The entire solution, accessible with a single click, optimizes bid processes, potentially leading to increased project wins and revenue generation.
Strategic Planning and Analysis
The availability of advanced analytics tools supports strategic planning and analysis, enabling organizations to continuously refine their bidding strategies.
Operational Excellence
Overall, the solution promotes operational excellence in tender management, ensuring the bid company operates at the forefront of efficiency, competitiveness, and innovation.
Summary
Hexaware’s proficiency in Salesforce-native solutions and new age AI tools like Salesforce Einstein Analytics empowers organizations to realize substantial growth by unlocking actionable insights. We’ve successfully guided clients, fostering business expansion and data-driven capabilities to seize opportunities.
Allow us to propel your journey toward similar achievements with our tailored Salesforce solutions.
