Summary
The hematology competitive intelligence team at a prominent pharmaceutical and biotech company faced resource and personnel constraints, causing them to miss key industry and competitive updates across their extensive portfolio. Evalueserve was brought on to assemble a specialized team with the necessary expertise to augment the company’s internal resources. They tailored their competitive intelligence solution to meet the needs of multiple personas within the client organization.
Evalueserve’s solution included real-time alerts, newsletters, monthly reports, competitor earnings call summaries, primary intelligence from industry experts, and in-person and virtual conference coverage. Evalueserve’s experts conducted data triangulation and analysis to provide crisp, deep insights into the client’s competitive landscape, market trends, and industry outlook. Evalueserve’s approach delivered critical information almost twice as fast as before, saving 30% of the internal team’s bandwidth for more strategic activities.
The Challenge
The hematology competitive intelligence (CI) team at a leading pharma and biotech company had limited resources and internal bandwidth. They needed help to keep up with the industry and competitive updates on their vast portfolio of 20+ pipeline and marketed assets.
The team was focusing on their late-stage assets, which were of immediate focus, so tracking emerging areas and identifying new opportunities took a backseat. In the past, the CI team had partnered with several product companies to help manage the enormous volume of data. However, the team had been disappointed by the large amount of noise in the data, the lack of actionable insights, and the low level of support received. Due to those experiences, they sought a technology-enabled service provider to combine the speed of technology and the recommendations of domain experts.
Our Solution
Evalueserve created a team with the right mix of resources and subject matter expertise to work as an extension of the pharma and biotech company’s internal team.
Evalueserve’s team began the engagement with a detailed workshop and a setup phase to gain a thorough understanding of the client’s existing workflows, end users, and stakeholder personas. With that information, Evalueserve tailor-made a comprehensive competitive intelligence coverage solution to meet the requirements of diverse personas – strategy, marketing, brand, clinical, and CI – within the pharma company. Evalueserve’s CI solution provides:
- Real-time alerts for high-priority areas. These reports include details about the implications for the client and its broader industry. The insights and implications are custom-created to cover perspectives for diverse stakeholders’ personas.
- Weekly and bi-weekly newsletters to help stakeholders stay up-to-date with relevant competitive and industry updates.
- Monthly updates on the competitive landscape and trends.
- Reports on key competitors’ quarterly earnings calls.
- Conference reports with updates on the most recent data releases, emerging industry trends, industry and HCP outlook towards Standard of Care and upcoming therapies, competitive strategies, etc.
- Periodic insights from interviews with industry experts and key opinion leaders (KOLs). These interviews validate information gathered from secondary sources, enhancing the reliability of our market and competitive intelligence insights.
- Quarterly reports for executive leadership highlighting key events, deep industry insights, and market predictions based on analysis and triangulation of data gathered from primary and secondary sources.
A pool of Evalueserve experts was assigned to provide support on ad-hoc projects and as the internal team reached capacity.
Business Impact
Evalueserve provided the pharma and biotech company with business recommendations based on the insights gathered. The filtered, near-real-time updates helped the client stay informed about upcoming opportunities and market developments for the entire expansive portfolio, enabling prompt, informed decisions and actions.
Evalueserve’s programmatic approach to the engagement helped realize synergies and efficiencies that were then transferred to the client in the form of an increased scope of work and higher value creation.
Key information delivered almost 2x faster
This speed is thanks in part to AI support and tools. This difference was especially pronounced in areas relating to industry conferences, such as conference website tracking and video session analysis.
Saved >30% of the internal team's bandwidth
These time savings have allowed the internal team to focus on more strategic activities.
Enabled faster action on opportunities
This has led to long-term benefits for the business.