Medical device businesses must constantly respond to complex technical, financial and regulatory changes.
For example, both consumers and legislators are demanding more sustainable solutions. As devices integrate the internet of things (IoT) and artificial intelligence (AI), cybersecurity and data protection are key concerns. Controls imposed by medical device regulations around the world mean agile operations are critical for success.
At the same time, more patients are undergoing diagnostic and surgical procedures. As a result, demand for medical devices, equipment and consumables is likely to continue growing in the longer term. A shift towards care at home is also increasing the importance of portable medical equipment. Currently the sector’s value is estimated to grow at more than 6% annually to 2032.
In addition, as investment in research and development increases, businesses must make sure they can achieve worthwhile returns. Organizations that keep pace with change can expect sales growth and increased market share.
Cloudfy is a business to business (B2B) ecommerce platform purpose designed for the complex sales you handle in the medical device sector.
Features like subscription ordering, serialized stock management, mobile sales tools, and transparent product safety data streamline and simplify your operations. You can implement order process automation and online self-service to reduce your administration costs.
As a software as a service (SaaS) solution you’ll have the latest B2B ecommerce functionality straight out of the box. You can launch your new Cloudfy site in just a few weeks rather than months or even years. You’ll also benefit from the customer ordering app and field sales representative app for mobile sales.
Pre-built integrations for leading enterprise (ERP), customer relationship management (CRM) and warehouse management (WMS) systems save you time and money. There are also connectors for popular marketplaces to make sure your products are seen in all the right places.
Key challenges in the medical device sector
The landscape is changing as medical device technology, personal health and wellbeing merge, regulation increases and innovation accelerates.
Intense competition
Some of the leading original equipment manufacturers (OEMs) have merged while others have diversified. Cardiovascular health, digital healthcare, and robotics are some of the fastest-growing areas. As medical device businesses become more focused competition for sales will increase.
Converging technology
Since the pandemic people have become more aware of the need to manage their own health and wellbeing. Traditional medical technology companies are now collaborating with brands like Apple. Competition for sales has moved beyond medical settings to home, outdoor and work environments.
Regulation
Increased use of diagnostic testing and AI is changing testing certification and clearance requirements. Definitions and applications are still under discussion making product approval processes uncertain. International variations add complexity and difficulty to the new product development process.
Innovation
The medical device sector is characterized by developments in materials, design, equipment production, advanced processing, and analysis. Innovation can revolutionize the market in just a few years. For example, you can now monitor your heart on your smartphone and manage your diabetes with a app. However, advances depend on investment to reach the market. When global economies are fragile progress is delayed, especially for new and growing businesses.
Top eight B2B ecommerce features for medical device businesses
In the face of scientific discoveries, regulation, and global competition you can launch new products and reach new markets online. Powerful B2B ecommerce features and business system integration allow you to simplify and streamline operations for your medical device business
Customer experience tools
Your professional B2B buyers expect outstanding purchasing experiences and are influenced by their personal online shopping. They expect easy navigation, useful product data and streamlined checkouts as a minimum. Autocomplete, autocorrect, and related product suggestions help them find what they want. Filters based on treatments, brand names or use cases show you understand their needs. You can also help to narrow down choices with options such as product type, price, ratings, or attributes. You can even provide bespoke menus of selected items.
Automated order processing
Repetitive manual order entry takes time and is prone to errors. When you integrate your B2B ecommerce platform with your enterprise (ERP) system customer orders are captured immediately. You can create automated order workflows to save time and improve inventory and warehouse management. You will improve customer experiences, reduce operational costs, and increase efficiency across your organization.
Data analytics
When you hold data in different systems duplication and inconsistency can affect your operational efficiency. The need for data synchronization slows down your processes and interrupts sales workflows. Integrating enterprise, product information and customer relationship management systems with your B2B ecommerce platform gives you a more complete view. You can collect and analyze data to improve your understanding of customer behavior and make better decisions.
Product control, tracking and traceability
You can control product sales and availability based on your customers’ locations, the size of order or combinations of items. To meet regulatory requirements and to keep patients safe you can improve traceability of batches and even individual products. With serialized inventory and order management tools, you can attribute unique serial numbers and track critical information like batch numbers and expiration dates.
Mobile sales
Direct field sales are still important for your business even though representatives often spend more time travelling than meeting customers. A field sales representative app gives your sales teams access to real-time data and valuable insights to improve performance. Wherever they are they can review product information, stock levels and customer-specific pricing. It works on or offline so it’s the perfect tool when visiting doctors, hospitals, retailers or trade and professional conferences. A customer ordering app also allows customers build and place orders wherever they are.
Document downloads
Customers can simply login to view, print and download key product safety information via their easy to use dashboard. They’ll always have access to your latest safety and compliance data so you’ll simplify your compliance processes.
Subscription ordering
For recurring deliveries subscription ordering makes purchasing easier for your customers and order processing faster for your administration team. Once orders are set up with the required frequency, quantities and duration everything will run smoothly. If authorization is needed before dispatch, you can simply send an automated approval message.
Multi-site sales
With the right certifications and approvals, you can sell your medical devices anywhere in the world. With B2B ecommerce multi-site functionality, you can present all or part of your product range, tailored to different countries or regions. You can use relevant languages, sell in local currencies, and offer preferred payment methods. You can manage local tax and compliance requirements and create niche sites for specific customers.
Case Study: Movora
Based in Switzerland, Movora develops, manufactures and distributes animal joint replacements and accessories globally. The company provides veterinary clients with the parts they need along with the corresponding screws and tools. They also offer workshops, clinics, webinars, and consulting.
Transforming your medical device business with B2B ecommerce from Cloudfy
When you operate in the medical device sector you need fast, efficient and scalable processes. Supported by the latest B2B ecommerce technology from Cloudfy you can respond quickly and effectively to changing market requirements. You’ll improve customer service, increase loyalty and minimize costs to stay competitive.
Automatic order workflows minimize order errors and improve efficiency. Real-time inventory visibility and tailored pricing increase customer satisfaction. Seamless ERP integration helps to streamline and simplify sales and you’ll always have a clear view of your operations.
Find out why Cloudfy is the best B2B ecommerce platform for medical device businesses. Book a free demonstration today.
Frequently Asked Questions
The best solution will depend on your unique business requirements. It’s important to consider both your immediate needs and your future plans. In the medical device sector, you’ll want powerful B2B ecommerce features to keep pace with change. Specifically, look for providers who offer flexibility and cost-effective scalability with a proven track record in the sector.
Yes. A SaaS solution minimizes in-house IT requirements and helps you maintain the latest B2B ecommerce best practice and security standards. Sales order processing can scale to meet demand as your business grows. By including pre-built extensions and integrations you can cost effectively customize your platform to stay ahead of your competitors.
It takes time and effort to meet the legal and regulatory requirements for the medical device sector. Your B2B ecommerce platform gives your customers access to the latest and most accurate product data at any time. Serialized inventory management tools make it easy to maintain product tracking and traceability.
Everyone from medical device manufacturers to supplies marketplaces must prioritize security and protection against cybercrime. B2B ecommerce platforms like Cloudfy provide robust technology with regular security updates, password controls, multi-factor authentication and data backups. You can be confident your site follows the latest best practices to keep sensitive information about you and your customers secure.
