Medical Device Company Achieves Record Growth and Expedites Profitable Sale in Just One Year with Concentrio
Automating Systems to Accelerate Growth and Maximize Profit
By working with Concentrio, a leading provider of medical devices, American Home Patient, was able to modernize its marketing and sales initiatives within one year of transforming its efforts via a custom-built Salesforce solution.
The Client: Preparing for Change with Salesforce
Concentrio partnered with a medical device company American Home Patient to develop and execute a personalized strategy designed to centralize its marketing and sales efforts and maximize its investment in the Salesforce Sales cloud. The company was in the process of being prepared for sale by a private equity firm and looking to adopt a solution that aligned with their future business goals.
The Challenge: Rising Above Limitations
Prior to partnering with Concentrio, the company’s sales team was utilizing outdated tools like paper spreadsheets, hard copy price books, and marketing material, and operated without an inventory management system. Moreover, no effective provider referral management system had been instituted despite referrals from providers being the primary source of new business for this company. In general, the sales management team had no practical tools to develop a consistent sales process or gain insights into their performance.
The company was also under pressure from ownership to increase its performance in preparation for the business’s sale and had recently invested in Salesforce technology to empower its 300-member sales team, but remained unsure of how to take advantage of its powerful capabilities in an effective and strategic way.
The organization's outdated and inefficient procedures had been in effect for so long, company-wide alignment and change management also produced unique obstacles on the journey towards modernizing its business efforts.
These combined challenges resulted in technical limitations, underutilized resources, and diminished revenue growth for the company’s business.
The Solution: Reimagining the Art of the Possible
Concentrio was first brought in to address the organization’s towering sales challenges and to create a strategic roadmap that aligned the executive team with every aspect of the proposed solution. Once alignment was achieved, the Concentrio team defined the business’s critical selling capabilities and united them with the features of the Salesforce Sales Cloud product.
A prioritized blueprint was created that laid out the capability implementation plan with activities and milestones.
Concentrio worked closely with the company to implement the Sales Cloud solution. Detailed discovery was conducted to define and refine the solution before continuing with the design phase. A solution was designed using agile methodologies including the ability to integrate the solution with an inventory management system. Additionally, the Concentrio team spearheaded the creation of a Provider Referral Management capability that simplified the identification and management of customer referrals. After a full-scale testing process, the solution was then released to the sales management team who immediately began taking advantage of the new solution’s capabilities and benefits.
Because this company had been using a manual solution for so long, it remained imperative that the organization managed its transformation with a seamless and efficient strategy. Concentrio crafted a change management plan that included extensive team training, continuous communication with the company about the motivation and benefits of the new technologies, and a comprehensive support system to ensure the successful adoption of the solution.
Read on to discover the impact.
The Results: Transcending Barriers and Eclipsing Business Goals
Through partnering with Concentrio, this leading medical device business was able to:
Eliminate all manual processes and adopt new sales procedures that were both manageable and measurable.
Visualize an accurate view of its inventory and sales opportunities for the first time, which created greater insights into the effectiveness of their sales team.
Create an effective Provider Referral Management system.
Establish an effective document management system for company stakeholders.
Implement and embrace a 100% adoption rate of the new solution across all touchpoints, resulting in increased revenue
Transform the landscape of its sales and marketing processes and address all existing sales challenges in a 9-month timeframe with the assistance of a targeted change management strategy.
The results generated by Concetrio’s strategy-driven and custom-tailored solution exceeded expectations and grew revenue by a significant margin each month following its implementation. In addition to increasing their performance and surpassing the company’s revenue goals, the private equity firm which owned this organization was able to sell the business within 1 year of the solution activation date.
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