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Healthcare and Life Sciences Industries Look to AI and Automation to Boost Growth and Productivity, According to Clari and FiercePharma StudyClari, the leading Revenue Platform, today announced that more than two-thirds of healthcare and life sciences sales leaders plan to implement AI and/or sales automation technology in the next three years to drive much-needed data accuracy and sales productivity. That's according to the findings of a new Clari-commissioned study by FiercePharma to discover how healthcare and life sciences sales teams are performing in these turbulent times and how sales leaders are positioning for future growth. When healthcare and life sciences sales and revenue leaders ranked their priorities, retaining and expanding existing accounts ranked first at 20% of respondents, followed by selling into new accounts at 19%, and increasing sales productivity at 18%. Increased competition and the economy are keeping them up at night, as are abysmal conversion rates, with a majority of executives reporting that 20-40% of deals aren't closing. One quarter of executives reported even higher non-conversion rates. According to the new study1 - "The State of Sales in Healthcare and Life Sciences" - sales and revenue leaders are focused on finding ways to accelerate sales productivity and are looking to AI and automation within the next one to three years to drive gains. Additional key findings include:
"Clari has saved us enormous time. It's just fantastic to look at and dissect your pipeline activity currently or next quarter or the quarter after. Clari has really simplified all of our processes. We can easily see all deals, what we are going to call, what we are not going to call, and what's at risk. I can also deep dive into those deals during one-on-ones." - Jonathan Slasinski, Head of Commercial Training and Education, Singular Genomics "Clari helps us understand if the number at the end is the 'same' as the number at the beginning (i.e., same deals). We were accurate (called the right number), but were we precise (shipped the forecasted product)?" - Keith Moore, Director of Revenue Operations, PerkinElmer AI and automation tools promote easier access to data with the ability to streamline Revenue Operations or Sales Operations. A commissioned study conducted by Forrester on behalf of Clari shows that the Clari platform significantly reduces "revenue leak" - the loss of earned revenue that has not been captured due to breakdowns in the revenue process, such as deal slippage, inaccurate billing, error-prone manual processes, bad data, unbilled services, or human error. The platform helped customers save 40% more committed revenue ($9.6B) after customers leveraged the platform for over a year. The complete FiercePharma study is available to download here. About Clari Clari is the leader in Revenue Collaboration & Governance, providing the only enterprise platform to run the most important business process: Revenue. More than 1,500 organizations - including Okta, Adobe, Workday, Zoom, and Finastra - run revenue on Clari to improve win rates, prevent slipped deals, forecast with accuracy, and boost the productivity of all revenue-critical employees. Visit clari.com and follow us on LinkedIn. 1 This online survey was sponsored by Clari in partnership with FiercePharma. Research was conducted from September to December 2023, during which time 106 executives (database contacts from Questex, FiercePharma's parent company) completed the survey. 106 executives completed the email survey.
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