Founded in 2018 by veteran hand surgeons, ExsoMed focuses on developing innovative techniques and products designed to revolutionize hand surgery. The company’s solutions are distributed to surgery centers and hospitals worldwide through a select network of consignment distributors. With high-dollar, sophisticated equipment on the line, ExsoMed needs real-time visibility into its inventory holdings and product movement — as well as deep insight into its financial operations. BT Partners and Domo are the hands-on partners ExsoMed relies on for that visibility.
“We have used Domo for a few years, but when we recently migrated our finance and distribution to NetSuite, we needed to rework and expand how we used it,” recalls Michael Lowe, Vice President of Operations for ExsoMed. “BT Partners is one of the most experienced Domo partners in the country, and we wanted that level of skill and expertise at work for us.”
"BT Partners is a great partner in this initiative. With their assistance, we’re better able to understand not just what is happening across the organization — but also why it’s happening."
Previously, ExsoMed relied on multiple disparate applications, plus dozens of spreadsheets, to manage its finance and distribution activities. Using Domo data, Lowe was able to generate reports that included data from each of the applications. As the company grew, though, the management team recognized the need for a true ERP application and implemented NetSuite.
“Domo allowed us to bring data from those applications together for reporting purposes, so we were getting by,” explains Lowe. “But, the duplicate data entry involved in keeping all the applications updated became too onerous. We needed to make the change.”
The move to NetSuite would require that each of the integration points between Domo and the existing applications be re-imagined and reconfigured. “I built those older integrations but needed a partner familiar with NetSuite to take on the new connectors,” says Lowe. “BT Partners has that knowledge. Trying to make the change without BT Partners would have been impossible. We would have quickly failed.”
While NetSuite offers numerous reports, ExsoMed relies on Domo to provide more than just data. “Domo gives us access to actionable insight. It turns data into information that we use to make better business decisions,” says Lowe. “BT Partners and Domo help us align our data around the opportunities and issues we need to monitor. Without that alignment, reports and graphs are just data dumps.”
BT Partners worked with Lowe to develop multiple Domo cards. The cards are visualizations ExsoMed uses to answer crucial business questions, such as confirming which items are in consignment with each distributor, where new queries are trending, what products are selling more quickly than others, and much more.
“It’s expensive for us to keep inventory in the hands of our distributors,” explains Lowe, “so we need to know when products aren’t moving so we can reallocate them or even slow production.”
To provide answers, BT Partners created Domo cards to monitor key performance indicators such as Days on Hand and Turn Rate. “We use these metrics to create inventory action plans using highly actionable benchmarks that keep our inventory right sized and optimally located,” says Lowe. Another tool BT Partners created helps ExsoMed conduct annual inventory audits of distributor-held parts. “It allows us to compare what our distributors say they’re holding to what our system says they have on hand,” Lowe adds.
One of the biggest benefits ExsoMed realizes with Domo is speed. “Domo is fast, friendly, and easy to use,” Lowe says. “We spend less time looking for data and more time analyzing it, looking for opportunities and trends we can capitalize on.”
ExsoMed sends teams into the field to help introduce its products to surgeons, and uses Domo data to keep those teams informed. BT Partners created a mobile-friendly KPI dashboard for each member of the team that includes sales data, trend analyses, market opportunities, and action items. “It’s this kind of agility that adds to Domo’s value proposition,” notes Lowe.
BT Partners also helped the company create data visualizations and reports for ExsoMed’s executives that quantify the company’s performance with charts, graphs, and interactive displays. Conveniently, the executive team can access the reports themselves, giving them real-time visibility into the metrics they care about.
ExsoMed is now able to track conversion rates surrounding its mobile lab program — once an elusive metric, but one that is helping the company refine its education and marketing programs for maximum effectiveness. “We’re taking analytics to a much deeper level than before,” Lowe says. “BT Partners plays a key role in helping us dig deeper and uncover new insights.”
Lowe explains that the company’s partnership with BT Partners takes the burden for creating the integrations, cards, and dashboards off his plate, freeing time for more strategic tasks.
“Some companies might have an IT department that could handle some of those tasks, but here, I’m it,” he says. “Knowing that BT Partners understands our business well enough to be proactively helpful — suggesting new ways to get more value out of Domo — allows me to focus my energies on running the business.”
He concludes, “BT Partners is a great partner in this initiative. We continue to turn to them to help us draw additional insights from our applications. With their assistance, we’re better able to understand not just what is happening across the organization — but why it’s happening.”