Can you meet the demands of emerging markets while overcoming regulatory challenges and delivering cost-effective devices?
Emerging countries seek innovative medical devices, necessitating new manufacturing, distribution and delivery models. Executing go-to-market strategies across different segments poses significant challenges. Additionally, meeting the regulatory standards for medical devices can be demanding and costly. Manufacturers must also focus on delivering high-quality, lower-cost devices to combat local competition effectively.
It will take a global solution that can support local needs for revenue management and robust pricing capabilities. Manual processes or multiple technologies that don’t provide a single source of truth for all departments to operate successfully will not allow you to accomplish this. Even more importantly, your solution must be capable of integrating with multiple ERP systems if you operate in business environments across various countries.
Managing global compliance could mean operating with as many as 100 different systems and, even worse, spreadsheets or a combination of manual and multiple technologies. On a global scale, this will result in a slower time to market and a high risk for errors. Meeting regulatory standards can be demanding and costly, especially while working to deliver high-quality, lower-cost devices to combat local competition.