What is sales planning software?
Sales planning software is used in the pharmaceutical and biotech industries to drive R&D, marketing, and manufacturing decisions both for in-market products and for medicines still in development. Functionally, it captures sales forecasts for each product in a company’s portfolio across geographies, patient segments, and product formulations. The forecasts are stored in a centralized database, and users have controlled, real-time access through a web browser or desktop application. Visualizations and dashboards provide both a means to validate the forecasts and insights that help drive decision making.
Sales planning software generally offers a range of features to support critical business processes:
- Data management tools aggregate forecasts from multiple stakeholders and orchestrate forecast processes across teams.
- Flexible forecasting models accommodate the unique requirements of a specific therapeutic areas or a company’s proprietary forecasting methods.
- Market dynamics simulations allow users to see how market segmentation, competitors, and share analyses affect forecasts and outcomes.
- Dynamic modeling methods enable consideration of combination therapies and dependencies—such as cannibalization—across products.
- Variance analyses highlight changes in the forecast over time and track differences between sales forecasts and actual sales.
- Centralized capture and storage of common assumptions (such as disease epidemiology) that should be applied uniformly to all relevant forecasts ensures consistency in constructing forecasts across therapeutic areas, geographies, and teams.
- What-if analyses provide the tools to explore multiple development or market scenarios for a product or therapeutic area.
How can sales planning software help regional sales managers?
One of regional sales managers’ most important decisions is how to allocate marketing dollars across countries, markets, and brands. Sales planning software is a powerful tool that can help regional sales managers devise—and stick to—an allocation strategy.