Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
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Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
Learn more
Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
Learn more
Developing IQVIA’s positions on key trends in the pharma and life sciences industries, with a focus on EMEA.
Learn more
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SEARCH JOBSTechIQ Europe 2022's afternoon Information Management session featured GSK's Siddharth Joshi, Principal Product Owner, speaking on 'Next Best Action. 6 secret ingredients of a successful program', Alexander Kopinke, Director Supply Management Systems, Takeda on 'Supply Integrity Management', and IQVIA's Sai Thyagarajan and Varun Verdhan on 'Reimagining Incentive Compensation'.
The session was kicked off by Souvik Sengupta, IQVIA Vice President, EMEA Lead BI and Information Management, who reviewed three key commercial challenges common to life sciences organizations: difficulty analyzing complex data volumes across siloes, the reality that traditional commercial models can't keep up with shifting expectations, and the increasing roadblocks between patients and therapies.
IQVIA is helping leading organizations address these challenges via Connected Intelligence™, which combines industry-leading data, advanced analytics and domain expertise to turn insights into action.
Sid Joshi – Principal Product Owner, GSK Next Best Action provided a case study of how his organization is driving performance by using an IQVIA-managed NBA platform to 200 GSK sales teams around the world. Platform features and performance metrics include:
He explained that an integrated approach should be adopted to address these challenges, by utilizing a platform strategy that enables a comprehensive approach to supply integrity while managing complexity.
Finally, IQVIA's Sai Thyagarajan and Varun Verdhan led a discussion of the ways commercial pharma's sales incentive strategy is shifting with evolving commercial models. They referenced highlights from a 2022 benchmarking study of EU and UK markets, which found a decline in overall promotional volume and an increase in remote interactions through 2020-22.
In this context, the team identified four critical factors omnichannel success factors for customer facing teams:In these markets, the study found Integrating non-traditional data sources and solving for the evolving GTM model to be the two top challenges. However, very few companies are equipped with the right technology solution today: for example, only 14% can ingest, curate and process a variety of data sources including and beyond the traditional sales KPIs without significant integration and development work, and only 17% can build and deploy both traditional and omnichannel plans and adapt quickly to changing business landscape.
The team noted that cultural openness to innovation is critically important to adapting successfully to this new paradigm.
To address these challenges, IQVIA recently introduced Incentive 360. Incentive 360 sits in a connected ecosystem and is scalable to power an end-to-end commercial effectiveness capability. Benefits include:
To learn more about the ways IQVIA is helping leading-edge organizations like GSK and Takeda adapt and transform to a changing environment through analytics, click here.
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