Wayne Paterson, CEO
The pharmaceutical industry is currently facing a number of challenges. Perhaps the greatest of these challenges is the efficient use of capital with regard to commercial operations, particularly in light of the increasing scrutiny on drug pricing. In addition to this, emerging markets are not living up to expectations and access to Health Care Professionals (HCP) is becoming more difficult around the world for pharmaceutical representatives.
The pharmaceutical industry needs a partner that will help them utilize technology to improve their sales and their bottom line. ProCom Rx is that partner. ProCom Rx is in a unique position to provide commercial analytics and Artificial Intelligence (AI) that is exceptionally suited to the pharmaceutical space. They can do this because they are the software provider who brings a pharmaceutical background to the table.
Wayne Paterson, CEO of ProCom, spent 25 years as a C-level executive in the pharmaceutical industry, and his design team is made up of pharmaceutical executives. He explains the approach ProCom takes, “We are not just a bunch of software developers pretending we know something about the industry. We understand the commercial analytic problems that pharmaceutical companies face, as well as their needs in terms of global field force deployments and cost structures. You just can’t talk to pharma unless you know how to talk to pharma.”
ProCom’s software is designed by pharmaceutical executives and then developed by their team of software developers. ProCom provides a holistic suite of software products that service the sales representative-level all the way up to the global CEO-level. Commercial analytics track field force productivity beyond the basic CRM data, allowing them to accumulate real-time data of face-to-face interactions with HCP and report on strategic implementation ability and corporate capability.
We are not just a bunch of software developers pretending we know something about the industry. We understand the commercial analytic problems that pharmaceutical companies face
This data can be viewed and analyzed by executive management at a local, regional, and global level.
ProCom’s Galaxy product is used to capture and analyze data through a four-stage process. The process begins with data capture and then that data is analyzed by an AI system called Nostradamus to determine why the data looks the way it does. The system will then provide the current run-rate of the data, letting the user know what percentage of their target they will reach over a period of time. All this information will then be used to determine which parameters have to be changed to get back on target.
This system is incredibly effective. Early on, ProCom worked with one customer to launch a new oncology drug. Prior to the implementation of ProCom’s solution, the company was forecasted to sell of 10 million units of the drug. However, in the first year they sold 140 million units. Paterson explains, “That’s why our catch cry is ‘ProCom Rx, Going Beyond the Forecast.’ The whole point of using ProCom is that you will sell more.”
ProCom has the culture of a pharmaceutical company, rather than that of a software company. ProCom recently met with Pfizer executives in New York and Paterson says, “In the middle of the discussion one of the senior Pfizer people said to me, ‘We deal with software people all the time, but none of them understand our problems. Yet, you know them. Why?’ I explained my background and they had an aha moment.” At ProCom, they are pharmaceutical executives first and software providers second. This internal culture is to take ProCom product development beyond the commercial space and into the clinical space over the coming months.