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The public tendering process accounts for 70-85% of global revenue for medical technology providers and 25-40% for pharma companies. Whoever can best respond to tenders, as well as the individually negotiated deals used by private companies, will maximize their revenue and profitability while minimizing cost and risk. Too often, however, pharmaceutical and medical device manufacturers learn about new tenders too late to submit well-researched bids. Further, when lacking historical market data, they lose new business by overpricing their bids, or give up profits by underpricing. Failing to anticipate upcoming tenders also robs them of the ability to shape them in their favor. Read this paper to learn how pharmaceutical and medical device manufacturers can improve their tender and deal management, as well as how to choose a global management platform and the best practices for implementing it. |
