The life sciences industry is rooted in discovery and innovation that moves society forward. At the end of the day, organizations must still treat their work as a business. It takes money, time and talent to successfully develop new nutraceuticals and pharmaceuticals or test new cosmetics.
While passion is often a driving force behind life sciences innovation, Enterprise Resource Planning (ERP) software can fill in the gaps for business operations. Here’s how a cloud-based ERP for life sciences can help you advance your business:
Streamline Business Processes
Despite the constant testing, tweaking and experimenting in the life sciences industry, there are also plenty of coordinated, methodical tasks, too. For example, non-creative tasks like paying vendors, reporting finances and tracking components and ingredients in your supply chain are likely systematized.
ERP for life sciences can execute these and other tasks in a predictable way and also automate certain activities to make them more hands-off to the user. A life sciences ERP can support everything from CRM to inventory management to production scheduling and more, all from a single source for maximum visibility.
Enable Rapid Scaling
Growth is a continuous goal for companies in the life sciences industry. As a society, we never stop evolving, and this is due, in part, to the developments made by companies in pharmaceuticals, food and beverage and biotechnology.
However, growth never comes without growing pains. All it takes is one breakthrough to transform a small company into a large-scale enterprise worth millions of dollars. In these moments, there’s no time to rethink hardware and software infrastructure, systematization and other moving parts while you’re trying to commercialize.
ERP for life sciences can support rapid scaling so that growth can occur with minimal limitations. Data and processes are clearly documented and don’t require reconfiguring as you expand operations.
Ensure Regulatory Compliance
Because things like nutraceuticals and pharmaceuticals are so highly regulated, it’s important for businesses to adhere to all FDA regulations. However, much like your company, these regulations are constantly evolving, too.
This is why choosing an ERP that’s purpose-built for life sciences is so critical. Certain features can support traceability, quality control, GMP manufacturing and GAMP5 validation, for example. As a result, you get a system that speaks the same language you do and works in a way that makes sense to your organization.
Explore Life Sciences ERP with NexTec
A life sciences ERP handles tedious, time-consuming business processes so your team can focus on creativity and innovation. It takes both to run a successful company that will best serve its end users. When you have fewer administrative hassles like data entry and manual review, innovation is free to thrive.
For more information on how NexTec and Sage X3 can help your company streamline processes, ensure compliance and manage growth, reach out to us today or take our product tour and discover the advantages of a cloud-based ERP today.