What does it take to commercialize a promising new non-invasive cancer diagnostic? A small start-up company was making breakthroughs on the lab side; now it needed the commercial strategy and systems to bring its new diagnostic product to market. Leadership was eager to get a detailed blueprint for implementation together with actionable feedback on its short- to medium-term commercial systems strategy. The company engaged Point B for the depth and diversity of our expertise and our track record of helping start-ups go to market.
When we joined our client, the 20-person company had no infrastructure on the commercial side—no way to take orders or manage customer relationships, and no internal IT. Getting started, Point B staffed strategic positions. We worked as partners with our client's leadership team to develop a commercial system strategy, to validate software selection and to plan Priority 1 implementation. We created a three-year commercial system roadmap—complete with all systems, people, services and a detailed spreadsheet of costs.
We drove the commercial systems strategy, with an immediate focus on a cloud-based CRM system, order entry, expense tracking and call distribution technology. We oversaw integration design and implementation of the CRM and order entry systems. After pressure-testing a recent software selection, we developed a software selection framework and testing processes. We also designed a governance process to evolve the systems strategy as business needs change.
A fit-for-purpose solution
Bringing both consulting and venture capital expertise, we helped our client make the most of every dollar from one round of funding to the next. We tailored a fit-for-purpose solution based on the company lifecycle to ensure our client has all mission-critical resources without needlessly overextending. We brought in on-demand expertise, including: Business Technology Services on pricing and IT strategy; a Point B physician for a customer point of view, and a resource to oversee integration testing. Point B Capital became a trusted advisor on funding matters and more. Flexing our resources helped meet evolving needs and keep costs predictably in line with the weekly run rate.
Along the way, we made sure our client has the organizational mechanisms in place to support a commercialization pipeline and continuous improvement because this first product launch is only the beginning.