5 Reasons Life Sciences Organizations Need Cloud ERP

Pre-revenue and SMB life sciences companies have specific needs, including going public, raising funds, successfully finishing stage II clinical R&D trials, and preparing for commercial launch, among others.

Checking off all of these boxes requires an integrated cloud platform that can efficiently manage costs and operational requirements involving clinical trials, project management, planning & budgeting, financial reporting, inventory management, clinical supply chain, procurement, human resources (HR), and payroll.

By developing a multifaceted Digital Operations Platform that integrates directly with NetSuite Cloud ERP, Jade Global serves up a solution that life sciences companies can either use as a bundle or ala carte. Here are five reasons all life sciences organizations should replace their aging, disparate systems with a unified cloud ERP:

  • Save money

    The Digital Operations Platform can cut companies’ supply chain operational expenses by 50%, mainly due to the streamlined communication and data-sharing methods that the solution supports. Where many life sciences companies use phone and email to communicate with their supply chain partners (e.g., contract manufacturers) and third-party logistics providers, the Digital Operations Platform is available anytime, anywhere, and supports good data-sharing and communications.

  • Save implementation time and costs

    When life sciences companies decide to toss their basic accounting systems, spreadsheets, and paper in favor of NetSuite Cloud ERP + the Digital Operations Platform, the “wins” begin to surface during the implementation phase. For example, Jade Global typically saves its customers 25% to 30% in implementation time and costs.

  • Automate workflows and eliminate manual tasks

    Once the platform is in place, the additional benefits include a more automated workflow and less reliance on internal IT staff. The fact that life sciences companies don’t have to hire new IT team members to manage their ERP, for example, means significant labor and time savings.

  • Get the best of both worlds

    Where NetSuite Cloud ERP provides a broad range of functionalities that these companies can use to run their operations, Jade Global helps connect the dots between life sciences firms and their outsourced supply chain partners, contract manufacturers, and packaging companies that play crucial roles in getting products commercialized and into patients’ hands.

  • Access to industry benchmarks and KPIs

    Because the Digital Operations Platform integrates industry-specific key performance indicators (KPIs), it serves as a plug-and-play way for life sciences firms at all stages to benchmark against industry standards (e.g., financials, procurement, supply chain, etc.). By introducing these and other operational efficiencies, Jade Global lets life sciences firms focus on their own strategic needs and organizational growth.

Getting Over the Finish Line

The global pandemic pushed most companies to reimagine how they conduct business, service their customers, manage remote workforces, and comply with ever-changing regulations. Forced out of their comfort zones, many companies began moving a little faster down the path to digital transformation.

Under increased pressure to participate in vaccine exploration and other timely initiatives, life sciences firms that were running on QuickBooks, spreadsheets, paper, and other manual systems found themselves in a tight spot. To stay relevant and ahead of the pack, life sciences companies need a cloud ERP and industry-specific platform that was built with them in mind. Only then can these companies achieve the speed, agility, and scale they need to make it over the finish line.

About the Author

Srinivas K Belthur, LOB leader - Enterprise Solutions and GTM, Head- Life Sciences & Healthcare Verticals

Srinivas has 26+ years’ experience with Technology & Business consulting services and has successfully delivered Strategy, Planning and Execution of Global engagements involving Cloud Migrations, Digital Transformations, M&A and Divestitures, Infra/Apps/BPO Managed Services.

Comments

Post a Comment

Popular posts from this blog

Whitepaper - Mobile Application Testing

With the advent of smartphones, a mobile phone has evolved from being just a communication device to a highly sophisticated business utility equipment. With smartphones no longer remaining a conspicuous consumption, they have become an efficient tool for handling finances, managing mails & agendas, and executing other business functions. Statistics highlight that 1.6 billion smart phones are sold at a rate of 1.8 to 2 million devices a day since 2007, and 1.5 billion smartphones will be shipped in 2016 – a 5.7 percent increase from 2015 – and will reach 1.92 billion by 2020. Download whitepaper - Mobile application testing
Read more

Tableau CRM features and Setup guide

Image
What is Tableau CRM? Many enterprises have leveraged Salesforce out-of-the-box reports and dashboards to understand their data and performance for years. However, data size has been increasing rapidly daily; analyzing the data manually has become a bigger challenge; subsequently, analytics have become more critical than ever before. Learn more about Salesforce CRM implemetation   Tableau CRM (Formerly known as Einstein Analytics) was introduced to address this challenge. It's an AI (Artificial intelligence) powered advanced analytics solution which works with any data source. The AI-powered Einstein Discovery, Einstein Analytics apps analyze billions of data combinations and provide predictive insights and prescriptive recommendations to the users. Tableau CRM provides analytic experiences in sales, service, and marketing to quickly take business decisions and actions. This platform is also optimized for mobile use. Why Tableau CRM? The key differences between Tableau C...
Read more

5 Things You Must Know About Cyber Security in the Cloud

Image
At first cloud computing and cyber security look like they are not related to each other. However, we can see that they are related and the reason behind it is that the first requires storing your data off-site and the second requires building virtual walls around it, protecting your data at all costs. Cloud computing means outsourcing, trusting a vendor to keep your data and transactions safe. Cyber security means keeping it all close, trusting the staff, procedures and protocols to do the job. Check more information about Oracle Cloud Managed Services . Cloud Security is the new Cyber Security With every passing year, the number of businesses migrating to the cloud increases–and the number of cyberattacks increases, as if keeping pace. By end of 2018, almost 96 percent of organizations started using cloud computing in some way, according to CIO.com. At the same time, cyberattacks were on the rise, with almost twice as many ransomware attacks in 2017 (160,000) as compared t...
Read more