Razorpay Payments is the converged payment solution that enables merchants to accept, process, and disburse payments with the help of its product suite. This payment gateway allows businesses to access all kinds of payment modes, such as credit & debit cards, UPI, and mobile wallets. Razorpay Payments can easily scale itself to match the growing demands of a business, which is why it has become one of the most sought-after payment infrastructures. 

Razorpay Payment enables end-to-end payment solutions. It is the payment gateway system that can be easily added to the app or web platform for a faster and seamless checkout process. This blog is a complete step-by-step guide for setting up Razorpay Payment Integration into a Django backend with React's front-end app, which is a full-stack payment gateway application. Razorpay Payment is not just easy to use, but also very smooth for integration.

Before we move to the tutorial part, let us understand the Razorpay payment flow (Fig. 1). This has been taken from the official documentation of Razorpay for Integration.

Getting Started with the Razorpay Payment Gateway Integration

The tutorial below is a step-by-step guide to going live with Razorpay Payment integration. The reason it is easier to set up this integration is that Razorpay Payments gateway is a developer-friendly platform with a variety of libraries, APIs, and plugins. Supporting the extensive sets of modes for payment, Razorpay Payment integration supports versatile businesses, and hence, remains much in demand. So let’s get started with the tutorial on Razorpay Payment Gateway integration.

Step 1: Setting up Razorpay Account

You need to sign up for a Razorpay account to use the Razorpay Payments access to the Razorpay Dashboard. To create a Razorpay Account:

• Click here to check official docs from Razorpay for creating and setting up an account.
• Businesses can only accept payments from customers after they have created a Razorpay account. Once the KYC (Know-Your-Customer) verification is complete, the money is settled into your account with Razorpay.
• Razorpay Setting allows you to get your Razorpay Key Id and  Razorpay Key Secret from Razorpay Setting.
• To check the Razorpay Dashboard -> go to the settings (Fig. 2 & Fig. 3)

• Click on API Keys

• Click on Generate Test keys.

The popup will show you the Key Id and Key Secret. Click and download the file, and store that API key somewhere since we are going to use it later in our next few steps.

                    RAZOR_KEY = YOUR_KEY

                    RAZOR_SECRET = YOUR_KEY

 

• Finally we can see Keys are Generate.

 

Step 2: Create Django Project Backend

For creating Razorpay orders and handling Callback API, follow these steps shown through codes below:

• Install Razorpay's python package
  • $ pip install razorpay
• Install djangorestframework
  • $ pip install djangorestframework
• Create Project
  •   $ django-admin startproject myproject
• Create payments app
  • $ python manage.py startapp payments

CORS is very important to access other domains and here we are using React Js. Since it is a completely different domain, that is why we are adding CORS Headers for a smooth transaction between the cors domain i.e our Django App and React js App. Read More Here.

• $ python -m pip install django-cors-headers

To use the app in our project we need to specify our app name, rest framework, and corsheaders in the INSTALLED_APPS list as follows in settings.py:

                    INSTALLED_APPS = [

                               'django.contrib.admin',

                                …

                               ‘payments’ ,   # add like this

                                'rest_framework',   # add like this 

                                ‘corsheaders’,  # add like this

                      ]

 

To Access CORS Domains, we also need to add middleware in your settings.py file.

• MIDDLEWARE = [

                            'django.middleware.security.SecurityMiddleware',
                             …
                            ‘corsheaders.middleware.CorsMiddleware',  # add like this
                    ]

                CORS_ORIGIN_ALLOW_ALL=True  # add like this after middleware.

If we want to use our app URLs, we need to add them in URL patterns.

Now also add the Payment Model in our admin.py file for GUI view of Tables in Browser.

In the admin.py file add the code shown below:

The Setup part is now done and hence, we can move to the actual coding. Follow the instructions below for completing your tutorial.

 

• Create the Order Schema in payments 

With the help of codes available across multiple sources, you can create Order Schema in payments, and make migrations for the payment app. For doing so, hit the below commands to migrate this model into the database:

$ python manage.py makemigrations payments

$ python manage.py migrate

And with this, we have set up our model. It is now time to write API Logic to perform operations. But before moving to that part, first, we’ll understand the flow of Razorpay payments. To understand this, let us first explain the Code Logic or Views.py file in the payments app. 

How do the payments actually work in Razorpay Payment Gateway? We’ve got you covered in the dev language for better understanding:

1. Initiate a Razor order from the Django server.
2. Pass order Id and all options to the React front end.
3. The user clicks the payment button and pays with one of the payment methods listed on the front end.
4. Razorpay Payment System will handle payment success or failure.
5. On failure of payment, Razorpay will try to retry the payments in the front end only.
6. On success, Razorpay will make a post request to a callback on our server.
7. Verify the payment signature and other details to confirm that the payment is authentic and not tampered with.
8. Once the signature is verified, capture the payment and send the success response to the front end.

Since the Razorpay amount works in sub-units of currency, therefore while passing the amount we multiply it by 100. For example, INR 200 would become 20000 paise.

Add API logic for creating orders and verifying payment signatures (views.py) 

The codes mentioned below will help you add API logic which is needed for creating orders, and also for verification of payment signatures. 

Add API routes for orders and for verifying payment (urls.py)

Below is the code that will help you in adding API routes meant for orders and verification of payment.

Create a constants.py file in the same dir for easy access

Also, add one more file constats.py for easy update of payments status using the code written below:

And with this, we are done with our backend Django setup. Now the next step is to set up the react frontend and make payments with APIs.

Step 3: Set up React front end and make payments with APIs

In order to set up React front end, refer to the official documentation of React JS Here.

Create a simple project with React App by referring to the Official doc. 

Follow the codes below for further steps:

• $ npx create-react-app my-app
• $ cd my-app
• $ npm start

Your folder structure will look like this (Fig. 7).

 

In App.js under the src folder paste the below code for a smooth transaction.

Step 4: Start the React project -

$ npm run start

Step 5: Start Django Project -

$ python manage.py runserver

Code GitHub Link - https://github.com/SwapnilPawar88/Razorpay-Django-ReactJs-App

High-Level Architecture of Razorpay Django Integration

Before you integrate Razorpay with React, it is important to understand the overall flow. A secure Razorpay React integration always involves both the frontend and backend working together.

Here is the simple flow in plain terms:
First, the React frontend sends a request to the Django backend to create a payment order. The frontend never talks directly to Razorpay using secret keys.

Next, the Django backend communicates with the Razorpay API using secure credentials. Razorpay then generates and returns an order_id.

This order_id is sent back to the React frontend. The frontend uses this ID to open the Razorpay Checkout window, where the user completes the payment.

After payment, Razorpay sends back a payment_id and a signature to the frontend. These details are then sent to the Django backend.

The backend verifies the signature to confirm that the payment is genuine and not tampered with.
Once verification is successful, the backend updates the database, marks the order as paid, and triggers any further business logic, such as sending confirmation emails or activating subscriptions.

Backend Best Practices (Django Side)

When implementing Razorpay Django integration, security and reliability should be your top priorities. The backend is responsible for protecting payment data and ensuring that transactions are verified correctly.

Secure Key Management
Always store your Razorpay Key ID and Secret Key in environment variables. Never hardcode them inside your Django files or commit them to version control. Use Django’s settings.py to read these values securely from environment variables.

Most importantly, never expose your secret key to the frontend. The React application should only receive the public Key ID. The secret key must remain on the server because it is used to create orders and verify signatures.

Order Creation Strategy
Before sending an order to the frontend, always store it in your database. Save details such as user ID, amount, currency, and order status. This ensures you have a record even if the user closes the browser during payment.

It is also important to use idempotency logic. If the same request is triggered twice, your backend should not create duplicate orders. You can handle this by checking whether an unpaid order already exists for the same transaction.

Signature Verification
Signature verification is critical in Razorpay Django integration. It confirms that the payment response originated with Razorpay and was not modified.

Always validate the payment signature on the backend only. Never trust payment details received directly from the frontend. Proper verification prevents tampering and protects your application from fraudulent payment confirmations.

High-Level Architecture of Razorpay Django Integration

To properly integrate Razorpay with React, you need to understand how the frontend and backend communicate during a payment. A secure Razorpay React integration is not just about opening the checkout window. It follows a clear backend-driven flow.

The process begins when the React frontend sends a request to the Django backend to create a payment order. The frontend does not generate orders directly because sensitive credentials must remain on the server.

Next, the Django backend connects to the Razorpay API using secure keys. Razorpay then creates an order and sends back an order_id. This ID is important because it links the payment attempt to a specific transaction.

The backend sends this order_id to the React frontend. Using this ID, the frontend opens the Razorpay Checkout interface where the user completes the payment.

Once the payment is completed, Razorpay returns a payment_id and a signature. These details are sent back to the Django backend for verification.

The backend verifies the signature to confirm the payment is valid. After successful verification, the database is updated, the order is marked as paid, and any related actions, such as subscription activation or email confirmation, are triggered.

Frontend Best Practices (React Side)

When working on a Razorpay integration in React.js, the frontend should focus on user experience while keeping security in mind. Even though payment verification occurs on the backend, the frontend plays an important role in ensuring the checkout flow runs smoothly.

Load the Razorpay Script Safely
Do not include the Razorpay checkout script multiple times. Load it dynamically when needed and ensure it is available before opening the payment window. This prevents duplicate script injection and unexpected errors during Razorpay React JS integration.

Never Trust Frontend Payment Data
After payment, Razorpay returns a payment_id and signature to the frontend. However, you should never mark the payment as successful directly in React. Always send these details to the backend for verification. When you integrate Razorpay with React, remember that the frontend is only responsible for collecting the response, not validating it.

Handle Success and Failure Properly
Provide clear feedback to users. If payment fails, show a meaningful error message and allow retry options. If payment succeeds, show a confirmation message only after backend verification is complete.

Prevent Amount Manipulation
The amount should always be calculated on the backend. Do not rely on frontend values for pricing. This keeps your Razorpay React integration secure and prevents users from modifying payment amounts using browser tools.

Webhook Integration

Webhooks are a critical part of a secure Razorpay Django integration, especially in real-world applications. Many developers rely only on the frontend payment response, but that is not enough for production systems.

A webhook is an automatic notification sent by Razorpay to your backend when a specific event occurs. For example, when a payment is captured, failed, refunded, or when a subscription is renewed, Razorpay sends a server-to-server request to your webhook endpoint.
This is important because users may close the browser immediately after payment. In such cases, the frontend may never send the payment details back to your server. With webhooks enabled, your Django backend still receives confirmation directly from Razorpay.

When setting up webhooks:

1. Create a dedicated webhook endpoint in Django.
2. Verify the webhook signature using the secret configured in the Razorpay Dashboard.
3. Update your database only after successful verification.
4. Handle events such as payment.captured, payment.failed, and subscription.charged.

Webhook verification must always happen on the backend. Never trust raw webhook data without validating the signature.

Handling Subscriptions & Recurring Payments

For SaaS platforms, membership portals, and online learning systems, recurring payments are often more important than one-time transactions. When you integrate Razorpay with React and Django, you can easily extend your setup to support subscriptions.

Razorpay provides a subscription API that allows you to create plans with fixed billing cycles, such as monthly or yearly. Instead of creating a new order each time, you create a subscription linked to a customer and a plan.

Here is how it works in simple terms:

1. Create a plan in the Razorpay Dashboard or via the API.
2. Create a customer record and store the customer ID in your database.
3. Generate a subscription from your Django backend.
4. Send subscription details to the React frontend.
5. Open Razorpay Checkout for the user to authorize the recurring payment.

Once activated, Razorpay automatically charges the customer based on the billing cycle. Webhooks should be used to track events such as successful charges, failed payments, and subscription cancellations.

In a proper Razorpay React integration, always store subscription IDs and payment statuses in your database. This ensures you can control access to services, pause accounts on failed payments, and manage renewals smoothly.

Testing Razorpay Integration Properly

Testing is a crucial step in any Razorpay Django integration. Before going live, you must ensure that both the backend and frontend flows work correctly under different scenarios.

Start by using Razorpay’s test mode. Razorpay provides test API keys and test payment methods, including demo card numbers and UPI IDs. This allows you to simulate successful and failed payments without real transactions.

When working on Razorpay integration in react js, test the complete flow:

1. Order creation from the backend
2. Checkout opening from the frontend
3. Payment success response
4. Payment failure response
5. Signature verification on the backend

Also test edge cases such as network interruption, page refresh during payment, or closing the browser after completing payment. This helps confirm that webhook handling updates the database correctly.

To test webhooks locally, you can use tools like ngrok to expose your local server to the internet. This allows Razorpay to send webhook events to your development environment.

Finally, review your logs carefully. Confirm that order IDs, payment IDs, and signatures are stored and verified properly before marking any transaction as successful.

Security Considerations

Security is the most important part of any Razorpay Django integration. Even a small mistake can lead to payment fraud, data leaks, or incorrect transaction records.

First, always use HTTPS in production. Payments should never be processed over an unsecured connection. SSL certificates are mandatory for protecting user data during checkout.

Second, never expose your Razorpay Secret Key on the frontend. Only the public Key ID should be used in Razorpay React integration. The secret key must remain on the Django backend and should be stored in environment variables, not inside your codebase.

Third, always verify the payment signature on the backend. Do not trust any payment success response coming directly from React. Signature validation ensures that the response originated from Razorpay and was not tampered with.

Also, never accept the payment amount from the frontend. Always calculate and validate the amount on the server before creating the order. This prevents users from manipulating prices using browser tools.
Protect your APIs using CSRF protection and proper authentication. Add rate limiting if needed to prevent abuse. Secure logging and audit trails also help in tracking suspicious payment activity.
 

Conclusion

Razorpay Payment Integration allows your corporate customers to simplify, automate, and accelerate the pace of their financial operations. Whether it is accepting payment, reconciling transactions, or managing cash flow, a simple Razorpay Payment Integration will help them get various benefits like flexible payouts, excellent customer experience, and a unified platform that can control, analyze, and track the movement of money. 

Let us know what other payment gateway integrations might interest you! We are looking forward to your queries and suggestions. Drop us an email or write to us in the comments below.  
 

87% of the healthcare providers or HCPs are looking for either completely virtual or hybrid meetings with the pharmaceutical reps even after the pandemic, states a 2020 Accenture research. 67% of the HCPs think that pharmaceutical companies have a scope of improving communication, which could help physicians with better prescriptions to their patients, suggests Chief Marketing Officer at Sermo, a world leader offering actionable insights for the healthcare community. Digital transformation through an omnichannel commercial model is at the forefront of several pharma companies, yet these digital dreams remain deferred.

Harvard Business Review in its report ‘Why So Many High Profile Digital Transformations fail?,’ highlights “We think there’s something more here than executive over-exuberance of slowing markets. This kind of unfortunate decision has happened over and over again, in wave after wave of transformative business technology.”

Key lessons which emerge from heavy commitments and investments in raising digital capabilities include product desirability and the economy of a country. Our previous blog spoke extensively about the 5 challenges of pharma companies in adopting analytics-enabled omnichannel commercial models. This blog will cover a 5-step journey called REACT, to omnichannel commercial transformation for pharma companies.

REACT: Strategic Journey to Omnichannel Commercial Transformation

With a clear definition of business objectives, a pharmaceutical company can align its strategic vision to the solutions that it aims to pursue. To convert traditional models into omnichannel digital commercial models with the agile approach, we suggest this 5-step transformative journey REACT(Fig.1):

• Reach out HCPs by setting your business objectives and strategic vision
• Enhance the patient experience by offering treatment options specific to the population, instead of one-size-fits-all
• Act towards data-driven health care and dynamic delivery; & Adopt by leveraging robust analytics and data capability, and shifting towards innovative modalities
• Covert potential customers by building trust in the brand, and finally engage them for retention, and
• Test with the created MVP on selected population, region, and product

Step 1: Reach Out HCPs

A company should map out its specific growth plans, like reaching out to more HCPs, maximizing awareness around new product adoption, and developing new indicators. Priorities and use cases will also define the scope of advanced analytics, including modeling approach, types of data requirements, end-users, user interface design, talent requirement, and features involved. This step will therefore standardize the actions of your sales reps, and improve and optimize the content through personalization, messaging, and channel deployment.

Step 2: Enhance patient experience

Customer experience and personalized care have become the keywords of the pharma industry as customers continue to dictate their choices and preferences. Pharma companies must therefore consider the technology platforms which can interface with their stakeholders and are critical in improving enhanced engagement. Sameer Lal, SVP at Indegene, a leading pharmaceutical company, says, “We aim to bring together leaders from the industry to evaluate practical applications of modern technology for increasing the efficiency of the organization, enhancing communication, and improving compliance.”

Pharma companies must consider building capabilities across digital engagement. Since there is a transition from a one-size-fits-all approach toward a specific population, region, and demographics-based treatments, therefore the pharmaceutical companies must work by building blocks that can lead to improved outcomes. Investing in digitally-connected and hyper‑personalized services can help by reducing costs and driving adherence.

Step 3: Act & Adopt

The emergence of new models and improved care are the key drivers for enhanced processes, systems, and models pushed through new requirements and data explosion. Advanced analytics and robust data can help in omnichannel interconnectivity which drives more targeted marketing strategies and leads to enhanced agility and mobility. Pharmaceutical companies that can leverage advanced analytics and data capabilities gain an advantage through dynamic forecasting, sales force performance analytics, advanced segmentation, predictive pricing modeling, and contracting analytics. The shift towards new and innovative modalities can transform core business processes in contemporary commercial models. All this, in turn, frees up a company's resources and allows it to focus on improving quality, strategizing, aligning, and decreasing the costs of managing such initiatives.

Step 4: Convert potential customers

For any pharma company that aims at becoming a market leader in inorganic growth and therapeutic area, it is essential to focus on product desirability. For the ad hoc or targeted support, a pharmaceutical company must focus on bolstering its portfolio, while also looking at capabilities to build partnerships and purchases to increase its competitive ability.

The average organic customer acquisition cost (CAC) in the pharmaceutical industry is $196. Companies derive CAC by Total Cost of Sales and Marketing by Total New Customers. For converting potential customers, the companies need to focus on building trust which can happen by offering value-based care, and affordability. Continuous innovation, improved data systems, and standardized data sharing models for accessing adherence data can help in delivering value. The companies must therefore focus on outcome-based and risk-adjusted models to offer value, outcomes, and affordability, and convert potential customers.

Step 5: Test with the created MVP

A pharma company can build momentum by testing out a value-adding MVP or Minimum Viable Product. The company can also focus on single indications in the pilot country or even smaller geographical regions within a country. This will help the company in offering tangible showcases for personalized approaches to engage HCPs. The choice of indication or a product should have a balanced approach between its ease of implementation and impact (value to the customer).

For developing MVP, for example, McKinsey suggests that a pharma company can create a product or indication with a large sales force, strong competition with more growing space, a high-value proposition, the flexibility of content customization, and more customer data. Rich data availability can create impactful analytics. However, the country or region that a pharma company selects must be important and should have strong data availability and willingness to change.

Conclusion

Targeted investments for analytics-powered omnichannel commercial transformation models for pharma companies can lead to improved outcomes. So how do you equip your field force for reaching out to the right customers? How Do you empower your business with the right tech capabilities? How can you leverage analytics and data for deploying impactful strategies like REACT? If you’re looking for the right answers to these questions, reach out to us to learn how we have digitally enabled our pharma clients in empowering their end-users.
 

31% of the CEOs of large companies believe that the top challenge to accelerating digital transformation was difficulty making quick technology-related decisions, says a report from KPMG. Other challenges that hinder the pace of digital transformation in the finance sector are- security, rapid burst of innovative technologies, implementation of technology, and matching customer expectations.

While 92% of finance leaders across 89 corporates have started their journey to introduce digital interventions in the finance function, only 11% believe they are at an advanced stage according to EY Report ‘Digital disruption in finance”. In this blog, we aim to assist decision-makers in navigating their route to their company’s digital transformation by speaking about key technologies, and enterprise-ready digital solutions.

Digital Transformation in finance has now become an essential part of goal setting across financial services companies, thanks to readily available business data, and the ability of teams to process such huge data. Algorithms and analytics, better connectivity tools, improved platforms, cloud computing, and sensors have made accessibility to data easier. The finance teams must work on continuous redesigning of processes to ensure digital transformation, versus the repetitive traditional processes, which tend to slow down the pace of execution.

Some of the clear benefits of digital transformation include- automated and accelerated processes, tangible financial gains, reduced errors, and improved efficiencies. Jennifer LaClair, the CFO of Ally Financial, an industry leader in digital excellence, suggests, “The CFO function plays a critical role in driving Ally’s digital transformation. We partner closely with IT, strategy, and business leaders to assess business opportunities and ensure the most effective allocation of investment dollars and capital.”

Deloitte suggests critical technological predictions for finance in the times ahead. These suggestions are based on what finance leaders are presently doing, and what technologies are available, or would dominate in those areas (Fig. 1). Blockchain, Automation, and Robotic Process Automation (RPA) are some of the key technologies discussed below.

Blockchain

Digital transformation fintech solutions include blockchain, which makes use of distributed ledgers in making data and transactions secure. Blockchain helps with reduced costs of database maintenance, faster operations, and real-time contracts. Finance and accounting processes can be largely transformed using blockchain technology. Key functions like accounts payable, trade finance, and general accounting are excellent candidates for the adoption of blockchain technology.

Automation

40% of the financial activities like general accounting, operations, revenue management, and cash disbursement, can be fully automated, suggests a McKinsey Global Institute research. 17% of such activities have the potential of being mostly automated. These figures suggest that CFOs and other financial companies’ leaders can simplify core transactions through automation.

Robotic Process Automation

Robotic Process Automation (RPA) is a kind of automation software that helps in scheduling the timely performance of redundant tasks like data entry. Companies applying RPA at scale have adopted the technology by redefining their internal processes and altering operations. RPA helps in reducing the human error rate, thus increasing compliance. Also, it helps with reduced operational costs.

For instance, Zurich Insurance experienced a 50% cost reduction in the pension and insurance division in the UK, and thus implemented the technology in other divisions in fewer than 2 months. RPA solutions helped Bancolombia, Columbia’s largest bank, in enabling their clients with better management of their investment portfolio. As a result, it is felicitated with the award for Digital Transformation in the largest company in Columbia.

Artificial Intelligence

AI can be used to identify patterns and enable predictive analysis, thus helping with outliers identification. Among many use-cases, this can help eliminate fraudulent practices or at-risk parties automatically. You can use such digital tools for picking out patterns to mark non-payers or avoid such kinds of transactions, thus eliminating disagreeable entrants, which can dilute the customer base of a company. AI also carries out most of the operating activities with almost negligible human intervention. AI-enabled decision-making can help financial companies with gaps identification, making forecasts, and measuring expenses- leading to optimized business processes.

For example, Ant Financial crossed the 1 billion mark in the number of customers in just 5 years of its launch. Spun out of Alibaba, Ant Financial Services Group makes use of data and artificial intelligence and serves over 10x more customers than any of the largest banks in the U.S. The number of employees here is just 1/10th. Built on the digital core, the company today competes with the top financial companies of the U.S., like JP Morgan.

Advanced Analytics & Insights

Mining business data through automation techniques, statistical methods, predictive modeling, and machine learning has become essential for strategic decision-making. Financial leaders must work in tandem with strategic and IT teams and assess business through their leaders to identify broader ways in which AA and data insights can uncover business value. Advanced Analytics and data mining through insights have multiple use cases like risk management, managing talent, preventing fraud, optimizing prices, and exploring various other applications. It can be covered across various areas such as data visualization, graph analysis, data processing, and mapping customers’ behavior.

The time to act is now!

“The most important thing is to make the technology inclusive - make the world change. Next, pay attention to those people who are 30 years old, because those are the internet generation. They will change the world; they are the builders of the world,” says Jack Ma, Founder & Chairman of Alibaba Group. Therefore, financial services companies should work closely with engineering solutions partners and strategic decision-makers to initiate digitization in financial companies.

A financial service company can set clear expectations, and ensure strong talent leadership to drive growth through technology. If you have a clear agenda and need to discuss the digital transformation of your financial company across pain points, get in touch with Valuebound, an enterprise digital experience company in India.
 

77% of the marketers in the Pharma sector believe that the omnichannel commercial model is the right way forward. One dimensional strategies with limited healthcare practitioners (HCP) engagement and disconnected promotions are no longer considered best practices. Even as face-to-face HCP visits still remain relevant in Asian markets, they too have reached the tipping point in terms of effectiveness. 87% of healthcare providers (HCPs) want either virtual or a mix of virtual and in-person meetings with pharmaceutical reps, suggests Forbes. As a response, pharma companies in the Asian markets have started to transform the way HCPs interact. At the core of new digital strategy is aggregation and synthesizing of behaviors and trends via deep insights, actionable data and advanced analytics.

However, misconceptions and myths around omnichannel, analytics and digital approach remain a key problem in Asian market. Over 50% of the senior marketing executives in pharma companies struggle to gather actionable insights itself from data as per a report by Eversana. In this blog, we aim at answering these challenges around adopting analytics-based omnichannel commercialization in Asia for pharma, and develop a four step digital strategy (Fig. 1).

Why does omnichannel digitization via analytics matter?

While sectors like banking, retail, and media have already seen benefits from the use of Advanced Analytics (AA), pharma is yet to improve its commercial model through data which can be positioned as the strategic asset. Today, sales reps find it challenging to customize and optimize the complex channels, frequency of interactions, and content for specific HCPs who expect relevant and tailor-made content to their patients and practice (Fig. 2)

McKinsey suggests that the leaders who have adopted AA along with an omnichannel approach for the commercial model saw 5-10% revenue growth, 10-20% better market efficiencies & cost savings, 3-5% prescribes increase, and 5-10% higher satisfaction amongst HCPs. Such improvements are a result of differentiated insights through AA which can guide commercialization such as, creating channels and personalized messages for each HCP, and allocating resources.

Suggested Strategy for Omnichannel Marketing

The Omnichannel commercial model helps in upgrading the way pharma works, by upskilling for a tech-enabled world, and personalized engagement which creates value. Continuous feedback from the market helps in strengthening optimization power and predictiveness of analytics systems.

We suggest a four pronged strategy involving data gathering, developing analytics models, building the right team, and adopting the same (Fig. 3)

What kind of data needs to get gathered?

Data collection through CRM systems around HCP interaction details, market-specific data like competitive landscape, demographics, sales data, content, and through third-party is already available with the marketers. For developing an omnichannel commercial model for pharma, such datasets can be interconnected to create a holistic view of HCPs and customers. For developing insightful analytics, McKinsey describes six criteria for data requirements:

• Sales data about products for each HCP or certain groups of HCPs. This helps in understanding sales estimation at individual HCP level, thus understanding sales impact through analytics.
• HCP interactions data which is customized at individual level. This helps in channel and frequency recommendations.
• Messaging/content data which is interconnected to interaction data. This helps in content modeling.
• Product data which is mapped across sales and interactions with individual HCPs.
• HCP characteristics data including basic details, demographics, patient estimate at brand level. This helps in sales estimation at individual level, and also enables micro-segmentation.
• Market data like epidemiology, market access, competitive environment, market events, and market access.

Compliance and regulatory requirements must be fulfilled for each country during the data collection process.

What are the analytics insights from data gathered?

Advanced analytics can help pharma companies gain deeper understanding and insights across macro trends, which are:

• Focus on customer experience- At the core of omnichannel approach is customer-centric experience, which must flow across channels in a seamless manner. Mary Alice Dwyer, Chair of Medical Affairs Digital Strategy Council says, “A company must embed digital in its operations and ways of working, rather than bolting it on as a separate project or through a separate team,”
• Personalized Care- Audience segmentation using derived analytics can enable personalized engagement, which is measurable and assists pharma companies in charting the future campaigns with impactful messages, especially before launching a new drug. Patient-focused marketing can boost engagement rate by 20-90% depending upon the segment.  
• Dynamic delivery models with Innovative solutions- like AI and AA have the capacity to digitally transform commercial models of pharma companies. Insights through advanced analytics enable strategizing, improving product quality, and ensuring consistency.
• Data-enabled healthcare-  Companies that can leverage data have the edge over competitors in terms of contracting analytics, predictive pricing modeling, dynamic forecasting, advanced segmentation, and sales force performance.

What kind of talent requirements do we need?

Analytics-driven marketing efforts require pharmaceutical brands to partner with tech companies that are data-driven. Typically, omnichannel commercial model of pharma companies require tech team which includes-

• product owner
• translator
• data engineer
• data scientist
• change manager

On the functional side, the companies would need representatives like marketing manager, sales director and medical adviser. (Fig. 4)

Average penetration of digital talent for Asian countries is double that of the US, suggests APEC Closing the Digital Skills Gap Report, 2020. The pharma companies face the major challenge- job profiles of designer, translator, data engineer, and data scientist in life sciences and healthcare sector. While hiring tech talent for pharma could be challenging, it shouldn’t stop the companies in pursuing holistic omnichannel commercial models. But, the change must begin from the top. Harvard Business Review report notes, ‘It has never been clearer that leadership — both good and bad — cascades down to impact every single aspect of the organization, with as much as 50% of the variability in group or unit performance being attributable to the individual leader.’

How to adopt Omnichannel model pan-organization?

A company’s success or failure for any of its digital capability depends on several factors. Harvard Business Review, in its report ‘Why so many high profile digital transformation fail,’ underscores 4 main reasons:

• Economy of a country or product desirability can affect omnichannel commercial model adoption for pharma companies. That is why, leadership should not see technological innovation or digital marketing solutions as its only salvation.
• Advanced Analytics for an omnichannel commercial model is not a plug-and-play thing, but is a continuous process powered by robust change management within an organization. It requires infrastructure, IT systems, projects, and skills Additionally, it requires ongoing monitoring and introspection.
• Digital investments must be calibrated towards industry readiness focused on both customers, and competitors.
• If the efforts aren’t going well, there must be a call for a new model.

Looking ahead

Pharma marketers may be tempted with the idea of radical technological change in the early phases of the new technology to dominate new markets, rather than  learning about the market through valuable insights. Investing ahead of a new technology curve in pharma only makes sense when the marketers are aware about where the curve actually is. The way forward is clear-headed decisions regarding the omnichannel commercial model for pharma companies through advanced analytics. In our next blog, we shall focus more on the “how to” part of solving the omnichannel commercial model for Asia-pacific Pharma companies by discussing a 5-step REACT journey to achieve transformation.

In an exclusive interview with Valuebound’s Chief Technology Officer (CTO) Piyush Sharma, Content Manager Akanksha Mishra, discussed topics ranging from his views and approach towards building growth oriented teams, developing technical capabilities and technology leadership. He also shared his personal journey, hobbies and interests, which would inspire the youngsters looking to be CTO in future.

Hi Piyush, Glad to have you join us as CTO, Valuebound. Could you share something about yourself? What defines you? What is something you have been passionate about throughout your career?

It’s wonderful to join a growth-oriented company that is looking to solve the tech problems of clients through its high-performance team. Recognized as a people person, I love to lead from the front with accountability & ownership. Result orientation and empathy are something that I try to bring into my team’s approach towards work, be it personal or professional, and this has always helped me in building a sustainable and agile team. A perpetual learner, would not shy away from learning from anyone and everyone. I enjoy reading management strategies, business success stories & failures, and philosophy of life. I’m a poet and flutist myself.

Everyone has their idea of success. What is your measure of accomplishment as a technology leader? Can you share some incidents/examples about the same?

I’ve been associated with the successful delivery of multiple critical products on the server and client-side, desktop CPU space, delivery of Internet Banking systems, and various software projects around eCommerce, digital space, and client-server applications across multiple market segments. I’ve been recognized as a Star Manager at Intel. I also believe that my accomplishments include being instrumental in building the entire team from scratch at startups like Zigy, and AyurUniverse. 

My measure of success as a technology leader would be to:

• Build and retain a smart team - which is well-versed in the current technology, focused, disciplined, committed, works with high integrity, and stays together
• Quality technology deliveries to customers - Define and execute a planned, robust, self-learning model which delivers.
• Create a learning ecosystem - which will enable people to cross-train and master emerging technologies required for the business. Have a career growth plan for every individual in the organization.

What is your management style?

With transformational management and a collaborative leadership style, I would strive for the organization to the best of its potential by bringing in changes that align with the present ecosystem and market dynamics. Also with my inclusive management style, I will work towards a cohesive, cooperative environment within the team.

What are the first few things that you came across when taking a walk-through of Valuebound’s service delivery, value proposition, and existing client success?

I see Valuebound as an organization, which has grown consistently and has created its own niche in the Digital Transformation space. With its deep-rooted capability in the Content Management Systems space, Valuebound has proven itself to be one of the preferred partners for the customers. The long-term relationships with the customers, timely delivery, and cost-effective quality solutions are some of the critical metrics that reflect the customers’ confidence and trust in Valuebound very loud and clear.

Valuebound has a strong technology backbone, and a committed & motivated workforce. I believe we have the right team with strong technical capabilities and the right attitude to craft the brand of Valuebound as customers’ choice. The organization with its focused attention on employee development and stakeholders’ satisfaction is rightly positioned for a steep growth harnessing the huge market potential going forward.

What are your views on the current IT services industry, considering the high growth trajectory at the moment?

The IT industry is waking up from the lull of the last two years of the pandemic. The business had been in the maintenance mode with a keep-the-lights-on kind of attitude and rare high-value investments.

Gradually we see growth in demands, and investments rising with tech budgets, which allows us to identify, and fill the missing skills in technology. The industry will be looking towards more innovations, diving into emerging technologies or digital transformation and new business models to support these. And, we must plug ourselves well enough to partake advantage by grabbing our slice of the opportunities.

What kinds of current technologies and solutions are we going to focus on delivering at Valuebound?

While we continue to focus on our existing capabilities around Drupal and other digital technologies, we shall be looking at building Cloud Computing, and DevOps capabilities in the mid-to-long term, like AWS for sharing storage and computing resources, Big-data for data-handling/analytics, etc.

Also, we see the trend towards low-code or no-code. So Spring and Angular will also be crucial. Machine learning / Artificial Intelligence is becoming much in vogue. Right now not very clear on how we can venture into this, but it will be on our radar for sure.

Where would you choose to invest your time more- ensuring that all current systems are running efficiently, or researching innovative and new technologies?

While we stay focused on our current delivery streams, we would invest our energy and resources towards creating new avenues in terms of technologies and product engineering beyond our regular Software Services and Delivery space. Process improvements and strengthening the technology organization in terms of skill development, career-focus, result orientation, and customer-oriented approach would continue to be our keen attention areas.

We would continue to be agile and vigilant to the changing dynamics of the market and customer requirements to align ourselves suitably as and when needed. Forming Valuebound Labs to trigger the creative side of the capable brains that we have and foster innovations would be an integrated and important part of our customer & market-centric growth strategy. Having the right business acumen, i.e. understanding the business impact of what each of us does, at different levels of the organization, is something that we would also focus on as needed.

What are your recommendations for professionals aspiring to be CTO?

As with any senior leadership role, technology leaders also have multi-dimensional activities. Senior leaders are best nurtured and developed over time. My sincere recommendations for young professionals out there would be so- 

• Visualize with a 360-degree approach - The aspirant should have a holistic focus on the current market scenario, present organization’s placement, emerging opportunities, understanding of the pitfalls, emerging market technology trends, how an organization can have its share, what we need to be there, and how do we align with the future market.
• Be good with communication - Self-driven, disciplined, and very organized concerning stakeholders’ communications, to get buy-in, resolve conflicts, to inspire and encourage people would be a plus for any professional aspiring to be a CTO.
• Be able to draw a line between taking calculated risks versus taking bold and novel approaches.
• Translate strategy to execution, and a product, & create a cutting-edge ecosystem hierarchy- (S)he should be able to build innovation in the organization’s DNA, which is instrumental in formulating policies, conflict resolution, etc.

61% of respondents find technology as a competitive edge in supply chain, and many of them find emerging technologies as key areas of investments, a Gartner survey underscores. Emerging, evolving and maturing digital technologies are key factors that provide competitive advantage to supply chain companies. 20% of the respondents are keen towards investing in one such technology of robotics.

Key areas of focus in supply chain management are the technologies which can easily manage assets, and help with human decision-making. Andrew Underwood, Partner, Supply Chain Operations at KPMG (UK) says, “The future of supply chain is going to be enabled through technology, ecosystem, people, and capabilities, only we can dream of at the moment.”

In our previous blog, we discussed how a supply chain company must define its vision into technical capabilities. In this blog, we aim at providing a roadmap on how leaders can digitize its operations across the supply chain.

Creating a robust vision

Creating a vision for transforming supply chain management largely depends upon a key step- assessing your supply chain business, and knowing where the technical capabilities presently stand. Therefore, the companies must gather data by anchoring them on following base points:

• Decision-Making: Technologies like Machine learning can update legacy systems, and support human decision making, which is a key focus area of supply chain management. 
• Automation & Innovation: Gartner predicts that data science, advanced analytics, and artificial artificial intelligence will become a key offering amongst supply chain management application vendors in the next 4 years.
• Data: Are you collecting and generating the entire data required for your vision? And is it rightfully stored for you to access it easily?
• Software & Hardware: Do the business systems enable analytical capabilities which are needed by the company?
• Talent: Does your business have digitally-sound talent that can operate and transform the supply chain in future? Does your business culture encourage innovation, continuous improvement, and willingness to experiment?

Today, analytics depends on off-the-shelf applications, which can help in extracting transactional data and insights, which will be more worthy rather than insights collected through traditional sampling and survey methods. 50% of the supply chain organizations are investing resources in AI and advanced analytics capabilities through 2024, Gartner suggests (Fig. 1)

Developing a Roadmap for Supply Chain Digitization

The teams must identify scope for operational improvements, and thus build digital solutions, which will support capabilities that are already present. With the help of root-cause analysis, shortfalls come into forefront, and this helps in charting digital journeys for potential changes.

No-regret changes, as defined by McKinsey, can yield high value, and fewer implementation barriers. Depending upon the levels of urgency, each company can segregate their digitization efforts into different categories (Fig.2)

But what are “no-regret” changes? These are the changes which are implemented on the contemporary models, and are easily quantified in respect with cost, capital, service, and agility. For instance, by deploying a tool that assists with inventory tracking and optimization, a supply chain company will enhance its awareness regarding the levels of inventory throughout the supply chain. This brings direct financial and operational benefit, and adds great value to the business.

Clarity in strategy will help you in implementing suggestions, such as these:

• Implementing SCMS: Digitizing supply chain needs software that can support your vision. Supply-chain-management software and digital logistics solutions, for example, can help in streamlining processes, overseeing transactions, and managing relationships with your suppliers. The software must be scalable across your long-term, multi-year digital strategy though.
• Implementing RFID: Radio Frequency Identification (RFID) will help your business in creating coherence and improving connectivity throughout the supply chain. This will make the process more efficient, data-driven and transparent across production, distribution, and retail. This will help businesses in increasing the return on investment. How capable is an organization in converting RFID data into its business intelligence also defines the kind of ROI you will achieve. Research suggests that the average time across industry for recovering RFID investment is around 30 months and falling.
• Implementing GPS: Global Positioning System implementation brings in the benefits of increased transparency, security, and accountability. Also, it provides insights around cost analysis. GPS helps in contributing towards interconnected digital supply chains by way of transparency and tracking.
• Implementing robotics and automation: Improvement and efficiency around omnichannel retail sales, inventory updates, email automation, tracking information, and payments is a direct benefit of automating processes across the supply chain.   Likewise, robotics implementation, especially in the packaging supply chain. Some of the key developments revolve around artificial intelligence, machine learning, navigation, response and sensor capabilities, and public policy and regulatory reforms.

Recap

By prioritizing changes, the companies can organize action plans into a multi-year roadmap. Meanwhile, side processes like making changes in organizational and operational processes, and across talents, can help in setting up a stage for successful digital revamping.

One example of successful implementation of machine learning in planning and forecasting demand is Mahindra & Mahindra. Aniruddh Srivastava, Head of Demand & Supply Planning at the company, in a recent conference said that Machine Learning and Artificial Intelligence are the cornerstones of their digital strategy. Mahindra & Mahindra increased its forecast accuracy by 10%, which in turn also improved its service levels by 10%, and reduced inventory investment by 20%.

Disciplined assessment, and long-term roadmap for transformation are two key ingredients that can help companies in reaping benefits. Companies that can employ operational and technological transformation have a better chance for using digital transformation to its full potential. Talk to us about deploying the latest digital technologies for improved supply chain performance at a modest cost.

“Given today’s volatile and disruptive environment, supply chain organizations must become more flexible, and the solution is digitalization,'' says Dwight Klappich, VP Analyst at Gartner. A recent study underscores that 2 percent of supply chain executives suggested that digitalization is in the prioritization segment. Companies devote a great deal of effort in digitizing their supply chains, yet the business outcomes remain dormant. ​​While a McKinsey study says that with digitization in supply chain management, companies can increase annual revenue growth by up to 2.3 percent, but companies haven’t been as positive with their results.

This blog aims to discuss such questions which explains the gap between digitization efforts and actual gains, and elaborates on the technology vision with new digital tools available now.

Why is your digital strategy not materializing?

Two core reasons for digital strategy not materializing are- management choice, and technology gaps. Senior management of many companies have found seizing opportunities of digitalization surprisingly difficult. It becomes a problem when companies do not strategically align operations with improvements in complementary technology. Major hindrance is overlooking operational changes, which later do not allow businesses to employ digital technologies to their full potential.

The reason for technology gaps are tailed off technologies. Even when supply chain management was among the first business areas to grab the opportunity of digital upgrades, tailed off technologies failed to produce expected results after initial innovation burst. Despite being valuable, prevalent supply chain technologies failed to perform sophisticated functions  because of their limited capabilities. For example, lack of combining and linking data across functions like schedules, shipments, and inventory. There was also a lack of advanced analytics performance, forecasting demand, finding out origins of problems, and more. In the absence of such capabilities, the businesses cannot precisely plan and speculate problems for preventing them.

For instance, a medical company digitized its ERP system and aimed at reversing decline in service levels of the supply chain. Yet, the service levels continued to decline, until the company overhauled processes like forecasting demand. When companies rapidly work towards improving their operations, they must also ensure penetration of technologies that support these new operations. Therefore, the best practice would be to match the revamped operational changes with suitable technologies.

Articulating planning and vision into business and technical capabilities

Leadership and Technology Assessment teams at the company must establish a forward-looking vision for understanding the current status of supply chain, and developing a road map for digitization of supply chain management. The companies must consider if technology and operations are streamlined and integrated, or not. Is there an organizational structure and talent strategy that will support continuous improvement, and favor innovation? The road map for digitization will also include compressed deadlines, given that scalability is a majorly sought-out feature of digitalization.

Once an organization has defined its vision they must articulate it into effective digital overhauling for supply chain management. These can include-

• Decision-Making: Machine learning can help managers in dealing with situations like scheduling responses for new customers, and changing material planning.
• Automation: Digital solutions configuration for processing real-time information without manual intervention, thus reducing human effort for data accumulation, scrubbing, and data entry.
• Customer engagement: End-to-end customer satisfaction by ensuring transparency with track-and-trace systems, sending regular updates, and giving more control to supply chain managers for delivering great customer experience.
• Innovation: Strengthening of business model is possible through digital supply chain which collaborates with customers, and suppliers. For example, S&OP decisions can be based on automated information from customers’ ERP.

Digital technologies to support supply chain management

In the present times, the technological ecosystem has evolved to offer such digital solutions which meet complex management needs. There are solutions which make great improvements in performance of the supply chain. The developers have created exclusive applications that help in reaping benefits of data generated by ERP systems. Most of such applications help in focused improvement across- supporting warehouse management operations, sharpening analysis, and end-to-end planning.

User-friendly tools for analysis, artificial intelligence based applications for tracing the root of problems, and even anticipating declines- it is all possible now. There are also solid recommendation engines that suggest correction measures. Systems which convey cross-functional adjustments, have allowed managers to put into action the major decisions. For instance, cross-functional adjustments can dribble down from sales and operations planning to other business areas. Likewise, technological evolution has helped cross-functional integration and decision making from executive to location managers and business units.

Considering the operations, at enterprise levels digitization means employing robotics, analytics, artificial intelligence, Internet of Things, and other similar technologies which help in collecting and processing information- all through automation. Digital transformation in the supply chain, hence becomes all about a vision setting which defines how digital applications help in service improvement, and refining agility, cost, and levels of inventory. It is also about consistent implementation of processes and driving operational excellence by defining technologies for organizational changes.

Latest technologies are also easier to implement because of simpler set up as compared to the earlier technologies. For example, cloud-based digital technologies help in piloting changes readily, while ensuring rapid extension across all levels of organization. A lot of technologies now are also easier to integrate with present systems. Off-the-shelf software packages, for instance, are easy to connect with ERP systems through standard APIs or application programming interfaces.

Conclusion

Digital overhaul of the supply chain requires a roadmap that is spread over years. Articulation of planning and vision into a successful digital strategy needs technologies around real-time data, advanced analytics, software & hardware, and talent who can carry out the digitization of supply chain management. While this blog explains about why you’re not generating actual gains from your digital strategy, and how vision must be set; in our continuing blogs, we shall speak about the roadmap for digital transformation in supply chain management, and logistics. 
 

Global supply chains have remained buckled with delayed deliveries and increasing costs under the unprecedented demands and constricted logistics capabilities over the last few years. Since 2019, there has been a 300% increase in the global container shipping rates, according to McKinsey, and even higher in key logistics routes like Asia–North America and Asia-Europe. Other key challenges that logistics companies face are failure to incorporate best practices and lack of coordination between warehouses and transport functions, inefficient use of vehicles and space.

To solve these challenges, digital transformation in logistics is now a much sought-after practice to increase rapid cargo delivery capabilities, improve last mile service, distribution network, supply chain execution, and most importantly, customer experience. Gartner suggests that “38% of organizations are improving supply chain technology to support end-to-end processes,” With digital technologies like advanced analytics, automation, artificial intelligence (AI), cloud-based data mining, Internet of Things (IoT) available with much improved implementations, logistics companies are ready to upgrade from status quo and be data-first enterprise.

60 percent of the respondents of Indian supply chain organizations said Industry 4.0 initiatives have now become more valuable, as per a McKinsey study. Industry 4.0 initiatives are defined as data and technology induced transformation of manufacturing and related industries.

Many early tech adopter companies are finding success in automating logistics already. Across e-commerce, the future of profitability lies in improved logistics. It is estimated that out of every $100 in e-commerce sales, e-tailers’ in-house logistics units are now collecting $12 to $20, which is a massive increase from the $3 to $5 spent on logistics in a typical brick-and-mortar-retail operation as per McKinsey.

Gartner suggests logistics firms need to adopt a three step process of Automation, Augmentation and Autonomy, leading to supply chain autonomy. Let us dive deeper to understand how. Chief supply chain officers (CSCOs) and heads of strategy at logistics organizations can prepare their organizations with this strategy.(Fig. 1).

Roadmap to digital transformation in logistics

Automation

Robotic Process Automation (RPA) tools can assist businesses having shortage of workforce to improve  operations without needing further manpower. In fact, transportation-and-warehousing industry shows the third-highest potential for automation, says the McKinsey Global Institute.

As AI overtakes a lot of repetitive activities that logistics perform, we speculate that automation could be a solution across several operations by 2025. Some key examples of the use of automation in logistics include autonomous vehicles which can navigate the aisles, automated high-rack warehouses, managers using AR goggles (augmented intelligence technology) to oversee the entire operations, and coordinating with robots and humans.

Wider use of Internet of Things (IoT) devices in logistics companies can help them with self-monitoring of transportation fleets. Enhancing fleets with interactive navigation systems, adaptive cruise control, and autonomous vehicles can ensure accuracy and consistency in service, while enabling standardization.

Some of the logistics technology developments which are visible in the industry are reflected in the use of VR-AR applications, Advanced Resource-Scheduling System, and Advanced robotics. (Fig.2).

 
Augmentation

During this phase, the professionals should launch aggressive and more holistic initiatives which are also tightly packed with operations and business objectives. Cloud-based data mining, analytics systems, and Artificial Intelligence (AI) are key digital solutions for improving customer experience, supply chain execution, and last mile service.

• Cloud-based solutions and advanced analytics tools can harvest real-time data, and convert it into business insights for supporting decision-making, and performance evaluation.
• AI algorithms can be used in logistics to consume geospatial, supply-chain, customer, and third-party data for taking decisions on next action, whether for customer interaction, yard management, or supply chain planning.
• Blockchain solutions in logistics can help in streamlining data. It helps in increasing visibility for shipments. 

This kind of digital ecosystem in logistics helps calibrate accountability, and ensures data security. Logistics companies also derive benefits of data latency elimination, and cost rationalization.

Autonomy

At this stage, Leaders should implement human augmentation strategies to digitize logistics and add key value from the perspective of logistics-technology (LogTech). Such gains will erupt from two sources-

1. From optimized efficiency due to improved operations, and
2. Better quality of data, which would create monetization opportunities

Algorithms would allow logistics companies to optimize pricing and current rates, which will especially help with active spot-market prices. Use of software-as-a-service (SaaS) solutions will enhance customer experience due to improved supply chain visibility and better forecasting of customer behavior. While the algorithms create opportunities for improvements, logistics professionals can handle exceptions easily.

Recommendations

In spite of current disruptions logistics companies face, they can take well-informed futuristic technology decisions like below to improve profitability:

• Use a strong process for identification, evaluation, selection and deployment of innovative technologies
• Select technologies which align with your business objectives, operations, and which can positively impact your business performance
• Include factors like risk tolerance and maturity in your assessment
• Recognize bundled or sequenced technologies, which can work together to deliver results.

We hope our blog provided  clarity on the global logistics situation, and offered a useful perspective to the logistics executives on the digital transformation. Please get in touch with us to learn more on how we have helped companies in their digital transformation journey.

74% pharma companies reported paced up digital efforts in response to the pandemic, suggests a study, which means the spend on digital transformation in pharma could touch the $4.5 billion mark by 2030. On data analytics itself, pharmaceutical manufacturers would spend a whopping $1.2 billion in the next 7 years, ABI Research suggests. Even though pharma executives have already explored or planned to get the potential of digitalization in the sector, still a lot of them find it arduous to determine which initiatives they must adopt, and how.

Pharma digitization challenges fall under four main categories-

• Cash: like limited resources
• Competency: increased customer expectations, external competition, counterfeit medicines market etc.
• Capacity: data silos, and disparate systems
• Control: protecting critical and sensitive R&D data

Success of a digital strategy depends upon setting clear goals and strategy, followed by robust execution. In this blog, we discuss the challenges in selecting the right digital tools, define objectives and provide a roadmap for successful digitization of pharmaceuticals.

What does digitization mean for pharma?

Digitalization of the pharmaceutical sector includes implementation of digital technologies that can improvise products and services associated with healthcare like:

• Drug development
• Better R&D in drugs 
• Achieving better patient care and interaction
• Improved pharmaceutical distribution
• Achieving transparency in supply chain
• Reduced carbon impact, etc.

How to digitize pharma?

Enterprise digital transformations for pharma companies should ensure end-to-end tech capabilities across processes, experiences, and brand. Consolidated digitization spans across business units, value chain, therapeutic area, technology infrastructure, innovation, data, and strategic focus, which includes therapy, patient, and leadership.

By adopting such a holistic approach, Sanofi had “risen in digital maturity from below average in mid-2019 to among the top 10 percent of pharma companies globally, by 2021,” says Dr. Pius S. Hornstein, presiding over Sanofi's China business.

Setting digital strategy objectives

Deloitte suggests setting digital strategy objectives across six critical areas:

• Customer-focused models- Driving operations and strategies from patient and healthcare professionals perspectives.
• Agile model approach- Rapid response to predictable and unpredictable circumstances.
• End-to-End connected model- Getting enterprise insights through connected business and democratized data.
• Intelligent optimization- Continuous optimization of processes enabled through extensive data and tech tools like IoT, Blockchain, and intelligent workflow.
• Predictive and holistic insights- Helping with accelerated decision making.
• Virtual, flexible, and unbounded workforce and organization.

Four Pillars of Digital transformation Strategy

Partnership with organizations including tech experts

To thrive in an ecosystem with complex collaborations, it is essential to partner with tech vendors, and integration partners who can help with back-end data sources through IT solutions. Data integration is essential for business functions like financial reporting, product marketing. Tech vendors help pharma companies with new app launches, testing beta versions of digital products, and successful integrations.

Getting digital tools to significantly improve patient experience

Digital apps like disease management solutions working alongside medication significantly improve patient experience and value of treatment. Companies planning to scale commercially should begin their digital journey like a start-up, suggests Forbes. A key approach here could be to demonstrate value proposition by testing first, and then innovating on digital products based on patient feedback, and data.

Data integration, data analytics and insights plays a significant digital solution, because it helps in identifying market trends, forecasting shortage of resources, and identifying operational efficiencies. Developing and implementing CTMS or clinical trial management systems is another key aspect. CTMS enables streamlining data transfer, improving research documentation, adding transparency, and solving challenges of competency and capacity.

Scalability through automation

Mechanizing data exchange and automation creates cost saving and incremental revenue, thus driving a significant value proposition. Digital platforms and APIs help in real-time collaboration across channels, and stakeholders, and help in connecting different technologies at multiple locations, thus providing real-time visibility.

Applications that are designed to automate data exchange between electronic data capture (EDC) and electronic health record (EHR) can remedy the challenge of interoperability. For example, a SaaS based digital solution can remotely access a patient’s information, and provide automated, verified, accurate, and traceable data.

Journal Biostatistics suggests that AI and ML technologies can help pharma companies in selecting the most promising compounds among thousands of them for a drug role. This can narrow down the time span of drug discovery from 4-5 years to a few months, which reduces cost and speeds up chances of regulatory approvals.

Digitizing core processes of business

With virtual audits during pandemic, live-saving drug development could be kept on track. This method allowed pharma companies to meet virtually with regulatory authorities, global teams, suppliers, and customers. Automation and integration of the operational core helps in delivering intelligent operations, enterprise connectivity, and efficient management. For many pharma companies today, digitizing core processes like HR, training, and finance is a part of holistic strategy.

Key technologies enabling digitization in pharma sector

Some of the disruptive technologies in pharmaceutical sector include Artificial Intelligence (AI), Big Data, APIs and Digital Platforms, Real World Evidence (RWE), Wearable Technology, Cloud Computing, Internet of Things (IoT), Blockchain, and Robotics among others (Fig.1)

Internet of Things (IoT)  is a critical disruptive technology behind digitization of the supply chain, which particularly helps in overcoming the challenge of counterfeit medicines market. Use of sensors, mobile technology, blockchain, and cloud allows suppliers and customers to properly track physical drugs across the supply chain.

AI, Machine Learning, and Advanced Analytics assist in drug discovery and improving life-saving drugs production, disease diagnosis, predictive forecasting for analyzing large data for clinical trials, enabling drug trials, and getting real-time data for efficient risk management. For example, Harvard medical school collaborated with Novartis for exploring early drug reactions with the help of ML technology. Sanofi employed Advanced Analytics, and Artificial Intelligence for analyzing critical data, which led to higher productivity and efficiency.

Start with modern integration digital strategy with us

Pfizer addressed key challenges of data silos, limited resources, and disparate systems through building an integrated platform as part of its digital strategy. Through its API-led connectivity model, Pfizer accomplished 60% IT delivery cost reduction, omnichannel physical engagement, speed, agility, and secure data sharing.

If you’re looking for a holistics digital strategy, speak with us to learn how we leveraged APIs, and engineered digital apps for our pharma client in mapping complex processes.

You’re losing your leads and you don’t even realize it! That’s not what we’re saying. A recent MIT study suggests that “The odds of calling to contact a lead decrease by over 10 times in the first hour. The odds of qualifying a lead in 5 minutes versus 30 minutes drop 21 times. And from 5 minutes to 10 minutes the dial to qualify odds to decrease 4 times.”

The education industry is at an exponential growth trajectory in the present times, yet the ed-tech firms face multiple challenges in scaling their business. Some of the key business pain points can be listed as

• Lack of lead tracking
• Lack of effective communication
• Poor customer experience due to improper customer query management
• Arduous paperwork which creates accounting errors
• Lack of coordination between product and project teams

Correct tools can strengthen a business’s relationship with its end-users and clients, while also improving the overall customer experience. In this blog, we list 5 tools to manage your edtech business better and efficiently.

Customer Relationship Management

Lead conversion is an essential aspect of business success. Lead management is dependent on different moving parts across departments including accounts, sales, and marketing teams. If your business is dealing with too many leads at a time, there are high chances that critical conversions may be lost. 

A CRM or a Customer Relationship Management software is a tool that can rightly handle and aggregate leads from across different channels like websites, calls, and emails. Integration of CRM in the business can help you to track and take action for each lead. A strong tech solution with CRM can help you with-

• Auto distribution of leads across sales team members with no manual intervention
• Availability tracking so that leads do not get distributed to co-workers who aren’t available
• Collecting lead data from multiple sources in one place to eliminate duplication
• Efficiency in management of callbacks and keeping records

Some examples of good CRM include Pipedrive, Hubspot, and Salesforce.

Communication Software – For seamless connection with customers

For product optimization, the business team must acquire and retain its customers. For this reason you need communication software so that your edtech company can connect with its customers seamlessly.

Therefore you must choose software that helps you solve customer queries or approach them directly over the sales call. Communication software can help you with-

• Remote ability so that you can make calls from your laptop or mobile with a simple click from anywhere
• Ease of use by making call entries, notes of customers, and tagging leads
• Call analytics and monitoring for the team to keep track of, or listen to live calls in real-time without interference
• SMS Automation for sending out bulk SMSs to communicate with all clients and contacts efficiently
• Auto dialing feature which allows automatic and direct connection to the suitable recipient based on previous interactions

Helpdesk & Shared inbox – For addressing customer queries better

Reducing the rate of customer defection by 5% can shoot up your profitability by 25-125%. That is why handling customer queries is an essential part of customer service in the edtech market. The most compelling reason why catering to your customers is essential is because a 2% rise in customer retention causes the same effect as lowering the cost by 1%.

Customer service is about learning and responding to customer queries in real-time, and increasing customer satisfaction. When customers send in queries, a tool like shared inbox can come in handy. It is popular among small, mid-sized, and big businesses alike. A shared inbox and helpdesk can help with-

• Promoting transparency among teammates to understand the best-dealt or failed query response
• Better e-mail management to filter out the priority mails, and comment or communicate efficiently with the queries raised
• Seamless integration by including several features of automation to increase productivity and reduce response time
• Solving query load through helpdesk by creating articles or answers around common queries and concerns

Some of the platforms that can help you with customer query addressing include Helpwise, Freshdesk, and Zendesk.

Accounting software – For efficient cash management

Accounting software for an edtech business can help the business owner assess whether the strategies are working towards profit generation or not. Good software in place will assist in making a correlation between cash flow and sales forecast. This is essential for business owners to strike a balance between raising revenues, releasing payrolls, and keeping track of expenses. Paperwork and spreadsheets in such a complex business model will make things clumsy. Having an accounting software will help you with-

• Invoicing with formal designing and tracking whether or not your client has viewed the bill
• Expense and bill management to improvise investments with analytical features
• Document management keeps a tab on customer sales and cash flow, while also monitoring customer journeys across schemes and promotions
• An informative dashboard allows you to track your business performance using charts and graphs; and also gives sales statistics to depict the performance of your company

Freshbooks, Quickbooks, and Xero are some good examples of accounting software.

Product Management Software – For overall management

At any edtech firm, there is a constant demand for developments to cater to the evolving market. With so many tasks and multiple developments going on simultaneously, there is also a need for overall product management. It is the role of a product manager to design a roadmap that the team navigates. Product management software can help a firm with-

• Task management to set weekly or daily targets, create a board for multiple tasks, set goals, due dates, and priority lists
• Team management to make the development process a waterfall model, and strategize the teams to make the process agile, and faster time-to-market
• Dynamic dashboards to bring in project flexibility and work visualization, monitoring the live progress, and real-time data

Some of the good product management software include Asana, Basecamp, and Microsoft Teams. 

In the active education industry, your business can make the customers and clients discover the benefits of digital learning with the rightly stacked tools. The tools mentioned above will help you in increasing business growth and team productivity. Let us know if you’re ready to get one or all of the tech stacks for improving your edtech business management.