It goes without saying that every business that intends to grow needs an ERP system that provides a framework for business processes and insight into costs, results and performance. For companies in some industries, almost any ERP system will probably work fine. But because of the highly regulated nature of their industry, Life Sciences companies have special requirements they need to consider when selecting an ERP system.
Too often, Life Sciences companies don’t realize that not all ERP systems are the same. Companies in this industry need an ERP solution that meets all their unique business needs and that can also help them to reduce the risk of non-compliance. At a minimum, an ERP system in Life Sciences should have strong support for crucial industry specific needs that allow the company to meet its regulatory compliance obligation without adding burdensome manual processes and unnecessary costs.
Life Science companies need a partner who understands the industry and can help them develop efficient processes built on best practices while staying compliant. One who understands the intricacies of the FDA and other regulatory requirements and is aware of the devastating penalties for non-compliance. The benefits of working with a partner who understands the industry can’t be overstated.
By helping to ensure and enforce compliance, Life Sciences ERP provides a simple solution to a pressing problem. It can take the stress out of tracking, tracing, recalls and managing quality without adding undue burden on day-to-day transaction processing.
Built in business insight enables rapid decisions based on facts, not guesswork. This helps Life Sciences companies make the right choices in real time, helping to save money and speed time to market. In a competitive industry such as Life Sciences, time to market can make or break a company. Early entrants often go on to become the industry standard, while late arrivals never enjoy a strong market position, even in cases where the product is actually superior.
If your Life Sciences company is searching for a new ERP solution, don’t be fooled by ERP companies who claim to understand your industry. Look for industry leaders that offer validation ready, on-premise or cloud environment that helps you jumpstart your FDA certification while conserving capital for important R&D projects. Find a solution that is scalable, extensible and ready for Life Sciences specific business needs.
You shouldn’t have to compromise on your ERP solution. You need it all – from track and trace through quality management and document management to global supply chain visibility.
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