Axtria Unveils New Benchmarking Study on Territory Design and Refinement for Life Sciences Companies
Reveals latest trends in territory alignment, balancing workloads, and enhancing sales effectiveness that can help reshape, inform, and modernize commercial operations.
BERKELEY HEIGHTS, N.J., Nov. 19, 2024 /PRNewswire/ -- Axtria, Inc., a global leader in cloud software and data analytics for the life sciences industry, has unveiled its highly anticipated 2024 Territory Design and Refinement Benchmarking Study. This annual report offers essential insights into the evolving approaches that life sciences organizations must consider when optimizing territory alignment strategies.
"Our findings highlight the growing need for adaptable, data-informed territory alignment and refinement strategies that address industry-specific challenges," said Asheesh Sharma, Head of Commercial Excellence at Axtria. "By prioritizing workload balance, frequent refinement, and strategic territory design, companies are better positioned to drive commercial success and address the demands of the changing healthcare landscape."
As market dynamics shift, designing effective territory alignments becomes crucial for achieving balanced workloads, maximizing sales opportunities, and engaging stakeholders across diverse therapeutic areas and life cycle stages. Axtria's latest study reveals top-performing companies' methods to refine alignment processes, ensuring agility and effectiveness in a competitive environment.
Key Findings:
- Workload as a Priority Metric: Over the years, workload has remained the top metric, with an average weightage of 73%, ensuring a balanced distribution of responsibilities.
- Increased Focus on Hospital Engagement: The deployment of hospital-focused representatives has surged, reflecting an industry shift toward prioritizing key accounts and healthcare facilities.
- Quarterly Refinement Cycle: Nearly 80% of clients now adopt a quarterly refinement cycle, which allows them to respond quickly to changing market conditions.
- Benchmark for Healthy Alignment: Territory alignment is deemed effective when at least 70% of territories maintain balance, optimizing coverage and productivity.
Axtria's 2024 benchmarking study is driven by data from projects conducted between 2023 and May 2024.
About Axtria's Products and Solutions
Axtria is proud to work with 16 of the top 20 life sciences companies, globally. From our roots as a trusted consultant to our status as one of the world's leading providers of cloud-based pharmaceutical management software, Axtria powers digital transformations in life sciences. Our experts call upon years of domain experience in the industry to guide pharma giants from brand launches to retirement. Our products go even further. Axtria InsightsMAx™ helps everyone from the C-suite to junior associates uncover trends to make better decisions. Axtria SalesIQ™ helps optimize field forces and provider engagements. Axtria CustomerIQ™ leverages AI-enabled next-best-action omnichannel choices. Axtria MarketingIQ™ turns investment analyses into pinpoint strategies. And Axtria DataMAx™ and DataMAx™ for Emerging Pharma is the data management framework that pulls it all together with best-in-class security and integration.
About Axtria
Axtria helps life sciences companies harness the potential of data science and software to improve patient outcomes by connecting the right therapies to the right patients at the right time. The company is a leading global provider of award-winning cloud software and data analytics to the life sciences industry. We're proud to deliver proven solutions that help pharmaceutical, medical device, and diagnostics companies complete their journey from data to insights to action, enabling them to earn superior returns on their investments. As a participant in the United Nations Global Compact, Axtria is committed to aligning strategies and operations with universal principles on human rights, labor, environment, and anti-corruption, and taking actions that advance societal goals. For more information, please visit www.axtria.com.
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