Unlocking the tech potential in international pharmaceutical tender management

With the growing trend of tenders worldwide, the need to leverage technology for a competitive advantage has never been more apparent.

Following the pandemic, public tenders in the pharmaceutical sector have significantly evolved in scope and complexity. The market is experiencing increasing demand, reflecting a greater openness to competition and a quest for the best value for money in pharmaceutical procurement. In this scenario, technology plays a crucial role by offering innovative solutions to manage and harness the flood of information related to this purchasing process. From machine learning algorithms to advanced data analytics, technological tools are enabling pharmaceutical companies to access unprecedented market intelligence.

Surpassing chaos: Automation versus manual tender monitoring

For brands or franchises taking their first steps into the world of tenders, manual monitoring may seem like the simplest option. However, they soon find themselves immersed in a maze of scattered data, multiple tender websites, and a constant flow of information that can be overwhelming to handle. What initially appears to be a simple and straightforward task quickly turns into a chaotic jumble of disorganized information and missed opportunities.

On the other hand, those who have opted for automation understand the true simplicity that this solution offers. Automation not only streamlines the process but also increases efficiency and reduces the risk of missing important tenders.

However, automating tender monitoring is not as easy as it may seem at first glance. It requires a deep understanding of the intricacies of the tendering process, as well as access to advanced tools and technologies. For brands or franchises that have already implemented crawling systems or work with specialized tender agencies, they may find themselves facing unexpected challenges on the path to full automation.

The complexity lies in the diversity of data sources, variability in tender formats, and the need for intelligent analysis to identify relevant opportunities. This is where the need for a competent and technologically strong ally arises, one that can offer customized solutions tailored to the specific needs of each company.

Having an expert ally in the development and implementation of tender automation systems, backed by advanced technology and AI capabilities, can make the difference between success and failure in the competitive world of tenders. By partnering with an expert in the field, brands and franchises can overcome the challenges of manual monitoring and move towards effective and efficient automation that allows them to make the most of every opportunity that arises.

The transformative role of technology in market intelligence

One of the greatest advantages of using technology in market intelligence is the ability to collect and analyze large volumes of data quickly and efficiently. This allows companies to identify emerging trends, assess market competitiveness, and make informed decisions in real-time.

Furthermore, technology is also enhancing the accuracy and relevance of market intelligence by providing predictive analytics and advanced forecasting models. These models can help companies anticipate changes in market demand, identify growth opportunities, and mitigate potential risks.

However, as stakeholders involved in tender management harness the power of technology in market intelligence, they also face unique challenges. Managing and protecting sensitive data, integrating disparate systems, and training staff in the use of new technological tools are just some of the obstacles that must be overcome.

Market Explorer, a comprehensive solution for pharmaceutical tender management

Market Explorer is designed to address the specific challenges faced by pharmaceutical companies in managing public tenders internationally. This comprehensive solution offers a value proposition based on three fundamental pillars: Tender Discovery and Data Lake, backed by the Decision Engine. Each of these components plays a crucial role in optimizing the tendering process and making strategic decisions in the pharmaceutical business.

Tender Discovery: Navigating the ocean of opportunities

The first pillar of Market Explorer, Tender Discovery, focuses on automating alerts for public processes in target markets.

Using cutting-edge technology, this component continuously scans tender websites for new opportunities relevant to the pharmaceutical companies' drug portfolios.

Through a subscription to each market, users gain full access to all information collected by the tracker. Through custom observers, they can configure multiple automatic searches with specific parameters, such as keywords, presentation, and duration.

These searches will run after each market update and on-demand, allowing them to discover all opportunities found by the observers. Additionally, if configured, they will receive notifications with each relevant opportunity found.

By eliminating the need for constant manual monitoring, Tender Discovery automates the opportunity detection process and significantly reduces the risk of missing important tenders.

This functionality not only saves time and resources but also enables companies to stay abreast of the latest tender opportunities in an ever-changing and competitive market.

Data Lake: An integrated knowledge reservoir

The second pillar of Market Explorer, Data Lake, acts as a central hub that collects data from various sources, countries, structures, and formats.

This data integration provides companies with a single, unified space to conduct analysis and gain insights into drug delivery strategies, pricing, and reimbursements.

By centralizing information and facilitating its access and analysis, Data Lake enables pharmaceutical companies to make more informed and strategic decisions based on solid and up-to-date data.

Decision Engine: Turning Data into Action

The third pillar of Market Explorer, Decision Engine, is the intelligence core of the solution.

This engine generates recommendations to seize market opportunities using information obtained from public tender processes, competitor data, and internal strategic information.

By analyzing and synthesizing complex data, Decision Engine offers valuable insights for strategic decision-making on critical aspects of the pharmaceutical business, such as pricing, reimbursements, and predictions of competitor stockouts.

Additionally, as an optional complement, the user can configure shortages to use a restocking date model and receive predictions on the dates when the shortage has ended.

This ability to turn data into action allows pharmaceutical companies to quickly adapt to changing market conditions and maintain a competitive edge.

Empowering pharmaceutical companies for success in the global market

In summary, Market Explorer is a comprehensive solution designed to optimize the tendering process for pharmaceutical companies internationally. By combining advanced technology and artificial intelligence, Market Explorer offers a robust and efficient solution to help companies manage public tenders in an increasingly challenging and competitive global market.

Aimed at pricing, tender, and market access managers, Market Explorer is an indispensable tool for maximizing value and performance in the pharmaceutical business in an ever-evolving global environment.

With Market Explorer, pharmaceutical companies can make the most of market opportunities and make informed strategic decisions that drive long-term growth and success.

At SNGULAR, we are not just your technology provider but a reliable partner committed to helping you meet and exceed your ever-evolving expectations.

If you are interested in improving your company's performance, we can help you develop unique solutions to meet the specific needs of your business. We work with you hand in hand, strategically utilizing technology to optimize your processes and take your company to the next level.