MedTech businesses navigate turbulent circumstances worldwide. Many leading companies are facing the biggest challenges in their existence. TforG operates in close contact with its customers to be on top of their priorities and needs.
Since the global crisis of 2010, in terms of business intelligence budget; our customers are investing twice as much in understanding the emerging markets (as opposed to Europe).
In the mature markets, top and bottom line suffer from the conservative government spending patterns. In order to help our customers to deal with these sudden changes, TforG developed a number of “shift handling“models to assist them with defining margins, identifying the rare growth niches, etc.
Most device and equipment companies entered the emerging countries and originally experienced encouraging growth. Today, some realize they face a less reassuring climate. Growth appears less sustainable than expected, governments favor local manufacturers, and growth tracks are hard to quantify or manage.
In this area TforG also invested in effective contacts with political and administrative stakeholders to better understand the context. It built special “Data Acquisition” teams to acquire reliable information and it developed “growth management” models to optimize the growth tracks of its customers.
Last but not least, budgets for outsourcing or purchasing business intelligence have been reduced and are no longer in tune with the increased needs for business intelligence. Evidence based business decisions have become the rule and replace intuitive market models.
Many professionals are forced to build their own BI system and face many problems such as:
- a multitude of sources
- reliability of data is hard to qualify
- it’s a time consuming process
In 2010 TforG started to build its BI platform “myToolsforGrowth“. It centralizes relevant and reliable data that business professionals use on a regular basis. It’s web based, easy to access, easy to share with information covering over 44 countries.
The above illustrates the constant flow innovations at TforG. Based on what we learn from our customers and what we observe in the market, TforG wants to be at the forefront of Business Intelligence.