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TikaMobile is an intuitive CRM, business intelligence and advanced analytics platform built specifically to enable life sciences sales and medical affairs teams to be more data-driven and operate more strategically. Below is our recent interview with Manish Sharma, CEO and the Founder of TikaMobile:
Q: Who are TikaMobile’s customers?
A: We work with life sciences organizations of all sizes and all types, including pharma, biotech and medical device companies. Our technology is mobile-optimized, easy-to-use and designed around the day-in-the-life of the life sciences sales rep, sales manager, sales ops executive, Medical Science Liaison (MSL), payer team and C-suite. With real-time, actionable insights at their fingertips, commercial teams across the organization can break down their silos and collaborate, provide more value to their customers and drive more revenue.
Q: What makes Tika so unique?
A: Tika is designed specifically for the life sciences industry – pharma, biotech and medical device – and isn’t a “big brother” type CRM tool, where sales reps merely log activities, calls, visits, etc., just to get their managers off their backs. We provide real-time, actionable business intelligence to the sales reps, which makes them smarter, more strategic and more efficient in the field. For example, on average, Tika reduces rep pre-meeting planning time from 20 minutes to 2 minutes. This is very compelling for reps. In addition, the massive amounts of internal and external data that Tika pulls in provides sales managers and senior leadership with a wealth of information and intelligence that they previously did not have access to. This allows them to more strategically direct and communicate with their sales teams, as well as more easily provide reporting throughout the organization.
Another important point is the user interface. Our technology has a mobile-first design and is easily used on-the-go through phones, tablets, as well as through internet browsers. Tika is intuitive, visually stunning and so user-friendly. This makes our utilization rates among sales reps very high – between 85% – 98%, compared to an industry average of ~20% for other CRM tools. The high utilization rate results in more efficient and strategic commercial teams, and it also means that more data is getting into the system to be shared and leveraged across the organization.
These are some of the things that make Tika so unique in the life sciences industry.
Q: Can you tell us about the pain points that life sciences companies are facing that Tika is addressing?
A: Many life sciences companies are struggling to improve their product launch results. Launching new pharma and medical device products have become increasingly challenging. In fact, Bain & Company recently reported that nearly 50% of launches over the past eight years have underperformed analyst expectations, and more than 25% have failed to reach even 50% of external revenue forecasts. It’s getting tough out there. Another challenge is the lack of actionable business intelligence. We all know that most organizations have a ton of data. But it’s difficult to turn that into actionable business intelligence for the field rep. Some reps are completely operating in the dark, and many reps would at least say that they could be more efficient, more strategic and closing more sales if they had more information about their prospects and customers. And lastly, sales managers and senior leadership lack the analytics necessary to create a strong feedback loop, to coach their sales teams, to correct current sales strategies and launch new sales efforts.
Tika addresses all of these challenges through its platform by pulling in massive amounts of disparate data, turning it into actionable business intelligence and presenting it in an intuitive, interactive interface that’s user-friendly and mobile-optimized. Some stats from our clients include:
• 72% of the reps reported increased efficiency in their territory
• 98% of managers believe they are more effective in managing reps and see significant ROI
• New reps ramp up in weeks, not months
• Average rep pre-meeting calling time is reduced from 20 minutes to 2 minutes
• Sales increased by 15% year-over-year
Equipping reps with critical, real-time information about their customers and prospects, and providing sales managers and senior management with real-time, advanced analytics, addresses many of the challenges I discussed and enables organizations to provide more value to their customers and close more business.
Q: How has Tika been helping life sciences organizations change their approach to selling?
A: Tika becomes the driving force behind an organization moving from an old-fashioned selling model that relies too much on relationships and involves too much guesswork, to a modern-day, data-driven approach that focuses on providing real value to customers. Tika’s platform provides the necessary data to allow organizations to more fully understand their customers and serve them better. It also enables reps to see where the real opportunities are. No guesswork. And it puts all of this information in one place. No toggling back and forth between multiple apps, no piecing together disparate data points. It’s all right there in the app.
In addition, Tika unifies various groups within an organization – Sales, Marketing, Leadership, Medical Affairs, etc. This also empowers organizations to adjust and course-correct their selling strategies. When the right hand knows what the left hand is doing, everything just operates better. The platform provides transparency and displays real-time information that unifies previously siloed groups. Everyone is better-informed, makes faster, more strategic decisions, and remains focused on providing value to the customer.
This is where the industry is going and Tika has created the industry’s next best practice. Tika’s technology is built with this in mind – a data-driven approach to providing real value to customers. The companies that use Tika’s platform become enabled to make this important shift that will lift their organizations to their next levels of success.