10 Ways to Accelerate Time to Market and Improve Quality (Without Compromising Compliance)

Companies today face a high bar for customer experience (CX). Things like frequently releasing innovative new products and making every touchpoint easy and enjoyable are now baseline requirements.

In addition, consumers want relationships with products and companies that reflect their beliefs and values, which include:

  • commitment to natural ingredients, local sourcing, and social responsibility
  • transparency into manufacturing processes, and
  • innovative, novel, and personalized experiences.

Falling short in any of these areas can translate into unhappy customers more likely to buy from a competitor — something every company would like to avoid considering just how hard they work to keep and retain customers:

  • 55% of customers are willing to pay more for a guaranteed good experience.[1]
  • 79% of consumers want brands to demonstrate they care about CX before considering a purchase. [2]
  • It costs 6 to 7 times more to attract a new customer than to retain an existing one. [3]
  • 84% of organizations that work to improve CX report an increase in revenue.[4]
  • By 2020, 89% of customers will shift to companies providing better customer experience and engagement.[5]

As a business leader, your job is to make sure that teams work together, as efficiently as possible to prevent quality issues from ever reaching the customer. Unfortunately, many of the quality issues that surface in the customer experience are traceable back to systemic issues related to your internal processes, technologies and/or suppliers. This is why having end to end transparency across the product journey is so critical.

This level of transparency can seem like a challenging, even unattainable goal for many companies. Risk management and quality processes tend to be reactive, and it can take months and significant effort to trace problems back to root causes and take corrective action to avoid future issues. Unfortunately this type of change only happens after an event has impacted consumers and the damage is done. But what about the the opportunity cost of a slow, disconnected, risk-laden product journey? Every additional day a product is not in market equals lost revenue, profit, disengaged customers and new competitive threats.

Legacy technologies, manual, disconnected processes, and suppliers that rely on paper and spreadsheets are all symptoms of this lost opportunity. Change is required and it begins with business leaders no longer accepting the status quo. Real change is possible and improvements can be seen in as little as a few weeks.

The obvious next question is “how”, so we’ve put together this or 10 ways to operate with more agility and infuse proactive improvement across your product journey in order to deliver the experiences today’s consumers demand without compromising compliance.

As you skim the list, resist the urge to assume that these concepts are impossible or unlikely to happen. The truth is, these use cases are already happening at more and more companies today—led by professionals like you who are committed to winning in their marketplace and industry.

The Top 10

Modernize Quality

  • Manage quality-related documents in a single, controlled environment. Gain efficiency through automated workflows and task assignment that eliminate email chasing and manual administration.
  • Provide real-time visibility into your quality system to help you stay ahead of any quality issues.
  • Maintain compliance by ensuring the right people are completing the right actions at the right time. And empower yourself with technology that lets you invite your suppliers, contract manufacturers, and even auditors to access your quality software directly.

Streamlining Regulatory

  • Fully automate the management of content prior to submission. This includes the planning, collection, review and approval of all product-related content.
  • Make the edit, movement, sharing and transaction of submission-ready documents, content planning and tracking, correspondence, product claims commitments and submission records fully traceable by anyone, from anywhere.
  • Ensure the right people are made aware of concerns and issues during the authoring process, for faster response to changing regulations across the markets you serve.
  • Establish a central, single source of truth and a complete archive for all your regulatory submissions, for authorized internal and external stakeholders to use and reuse in local markets.

Unify Marketing

  • Perform all marketing collateral review and approval in a central platform, eliminating the headaches of emailing files and lack of control over version and file storage, ownership and access.
  • Speed up claims management, with visibility and traceability of all product claims and substantiation.
  • Simplify your digital asset management (DAM) with the ability to easily store, search, and share assets and associated metadata with everyone who needs it, when they need it.

Have You Checked Out?

Looking at the opportunities across regulatory, quality and marketing, you can see the common themes are a need for greater agility in how you operate day to day tasks, enabled by a unified approach to how work gets shared, accessed, moved, and tracked.

It requires breaking down internal silos for greater transparency—something most consumer companies have always needed, but never achieved. And this is where most business leaders will ‘mentally check out.’

They’ll compare the status quo at their company to the items above and assume it’s just not possible. But with this assumption, they’ll lead their company away from increased customer loyalty and market share, and continue down the path to consumer irrelevance. Don’t be that leader!







Posted by Bruce Beilfuss

As Vice President of strategy for Veeva's Consumer Goods industry practice, Bruce is responsible for leading the go-to-market strategy, providing market insights on new and evolving capabilities, and ultimately ensuring customer success.