East Norriton, Penn. (PRWEB) June 24, 2010
TGaS® Advisors is launching three new benchmark options designed to meet the needs of companies or departments that want to take their Commercial Operations to the next level. Pharmaceutical companies that want to compare themselves against and learn from companies deemed the best at what they do, most efficient or a strategic combination of the two now have that opportunity. These three new options, Best of Benchmark, Efficiency Benchmark and Strategic Priorities Benchmark, complement the collaborative, Peer-to-Peer solutions that have made TGaS Advisors the leading source of benchmark advice in the pharmaceutical industry.
“Every functional area in almost every pharmaceutical company is re-examining the way it does business and making changes to meet the demands of the industry’s ‘new normal,’” said Stephen E. Gerard, TGaS Advisors Founder and Managing Partner. “We want to ensure our Operations clients thrive in this challenging environment by helping them become more effective strategic business partners.”
The three new options from TGaS Advisors’ PHARMASTANCE® series of benchmarks are:
- Best of Benchmark: What it would take to be “best” in every area for a commercial organization or department
- Efficiency Benchmark: What it would take to be the “most efficient,” supporting capabilities comparable to their peers but with the fewest possible resources
- Strategic Priorities Benchmark: How to model a Commercial Operations organization or department against the best in some areas and the most efficient in others, customized to the organization’s own unique needs and priorities
For all three benchmarks, TGaS Advisors will evaluate strategy, tactics, resources, metrics and trends for an Operations group, department or function. The firm’s associates, experienced industry practitioners, will provide specific insights and recommendations compared to the best, the most efficient or a strategic combination of the two. They will draw on data from members of TGaS Advisors’ extensive network, which includes the top ten and majority of the top 50 pharmaceutical companies in the U.S. market.
“We encourage Commercial Operations leaders to run their organizations like a business, deploying resources strategically, aligned with the company’s larger goals,” said Gerard. “These new benchmark options represent a major step forward in helping Operations achieve a competitive advantage for their companies.”
Similar to the firm’s Peer-to-Peer Benchmark, the three new solutions show a client’s resources, processes and capabilities against a cohort of companies. Using Sales Operations in the Best of Benchmark option as an example, a client may spend less, have a lower headcount and average (“at benchmark”) capabilities compared to the best in the category, who may invest slightly higher resources and generate “well above benchmark” capabilities. Specific insights and recommendations on how to achieve “above benchmark” capabilities are provided based on TGaS Advisors’ depth of data, knowledge and experience in “How other pharmaceutical companies do ‘it.’”®
In the Efficiency Benchmark, clients may choose to measure efficiency across their organization, department or function. Clients receive a comparative perspective based on “at benchmark” (average) capabilities achieved with “below benchmark” resources.
Strategic Priorities combines the two to form the basis of a strategic roadmap for Commercial Operations. A company may choose to be “efficient” in Data Management and “the best” in Sales Reporting, measuring itself against industry models in each category. See examples of each benchmark at http://www.tgas.com/view/489/benchmark_options.
“Any of the new benchmarks represent a reasonable option,” said Gerard. “The decision should be based on knowing where you stand, i.e., your existing organization, and where you want to go – your strategic objectives,” said Gerard. The new benchmark options will be available later this year for 2011 initiatives. TGaS Advisors plans to partner with a select group of clients for the first round.
These objective, fact-based benchmarks demonstrate that companies can spend less and still achieve the desired results, according to Gerard. “It isn’t so much about budget or headcount as understanding the organization’s objectives and making business-based decisions accordingly. All Operations leaders need to think this way today to keep their companies, and themselves, competitive.”
About TGaS Advisors
Ranked in the top 50 among U.S. Business Products & Services companies by the Inc. 500, TGaS Advisors is the leading benchmarking and advisory services firm serving pharmaceutical commercial operations organizations. The TGaS Advisors roster includes the top 10 and the majority of the top 50 pharmaceutical companies with operations in the U.S. market. The firm provides the only comprehensive series of benchmarking solutions and advisory services for objectively improving the strategy and effectiveness of pharmaceutical operations organizations. TGaS Advisors is based in East Norriton, Pennsylvania. To learn more, visit http://www.tgas.com.
Susan Youdovin for TGaS Advisors
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