The challenges facing those in the medical supplies and devices industry are not few. For example, in Overcoming Challenges in the Medical Supplies and Devices, this post points to increased competition, tightening safety regulations, an unexpected pandemic, and aging ERP solutions. Further medical supplies challenges were addressed during a recent NexTec webcast, which focused on how companies without modern medical supplies ERP software and medical devices software are hindered by data silos, inaccurate inventory tracking, lack of reporting, difficulties complying with government regulation and audit requirements, manual data entry, disparate systems and lack of transparency.
If that’s not enough, current supply chain and supply shortage issues are impacting how medical supplies and devices companies function.
With such overwhelming challenges, what is the answer? Two leading companies in the industry found industry-specific software within a Cloud ERP solution was the way to go.
Finding Success with NexTec and Acumatica Cloud ERP
Before choosing to invest in medical devices management software, DAS Medical Holdings, LLC (DAS Medical) and InBios International researched leading Cloud ERP solutions. The NexTec ERP Selection Guide: Medical Supplies and Devices lists the features the right solution should possess, including integrated, enterprise-level finance and operations, governance and compliance, production order and tracking, client management and distribution and inventory capabilities.
Both companies worked directly with NexTec to determine which Cloud ERP solution would work best for them. Based on their specific needs, NexTec recommended Acumatica Cloud ERP.
The DAS Medical team has over 160 years of experience in developing, manufacturing and marketing custom and single-use surgical equipment covers and draping systems. They’re headquartered in Atlanta with manufacturing facilities in the Dominican Republic.
To manage their complex and international accounting, manufacturing, inventory control and Material Requirements Planning (MRP) requirements, the fast-growing company knew they needed a cloud-based ERP solution. DAS Medical CFO Houston Lee turned to NexTec at the recommendation of a colleague. In turn, NexTec recommended Acumatica’s medical supplies ERP software.
According to the company’s NexTec customer story, Acumatica’s capabilities combined with NexTec’s experience clinched the deal. Says Lee, “Our confidence in NexTec is what ultimately convinced us we were making the right decision.”
The benefits of choosing Acumatica’s cloud ERP software and replacing QuickBooks, which they had been using since its founding in 2012, include:
- Unlimited users without additional user licenses, paying only for transaction volume. Lee says, “We love that with Acumatica, we can add as many users as we want without paying more. That allows us to open the solution to more of our staff, both at our headquarters and in our manufacturing facility. So, they get quick access to the data they need on their own. We find that we’re adding new users frequently as we continue to realize how valuable the solution is.”
- Automated workflows and trustworthy inventory. “Thanks to automated workflows in Acumatica, we’ve increased efficiency and cut the time it takes to report on production activity by over 50%,” Lee says. He also notes that they are now able to trust their inventory numbers and are able to “keep our stock at optimal levels.”
- Robust financial controls and easy access to metrics/analytics for strategic business decisions. “We have a small accounting department, so we value efficiency, but we also need robust financial controls including a solid audit trail. Acumatica provides that,” Lee notes.
DAS Medical is pleased with their decision, not only because of what Acumatica has done for them but also because of the support NexTec has provided even after going live. “They have remained focused on our business’s success from the start. I don’t feel like they just sold us a product, they were building a long-term relationship.”
Based in Seattle, Washington, InBios specializes in the design, development and manufacturing of immunodiagnostic devices for infectious diseases and biothreats. Their team is diverse, well-trained and highly educated and is dedicated to providing “reliable and practical solutions for challenging infectious disease diagnoses.”
Their expertise was obviously needed with the arrival of the COVID-19 pandemic. They had already developed FDA-cleared ELISA kits for Zika, dengue and West Nile and rapid tests for Chagas and leishmaniasis. After receiving FDA emergency use authorization, they added three COVID-19 products and are continuing to develop other tests.
Though successful and growing fast, InBios was using in-house software that could only handle sales orders and track lot numbers as they were sold, but it was not able to manage inventory holdings and raw materials. Bryan Deszell, Manufacturing Manager at InBios, says in the company’s NexTec customer story that they were “running more than half the business with spreadsheets and email.”
With no confidence in their inventory, the InBios team was unable to keep up with their growing demand. They recognized that an ERP solution was required and looked to NexTec for advice. NexTec suggested Acumatica.
“We believe in technology’s power to transform, and we selected NexTec and Acumatica to lead the effort. It’s our platform to build the business on going forward,” says Deszell.
The key results of relying medical supplies ERP software?
- Real-time inventory numbers
- Accurate lot tracking
- Improved forecasting
InBios also streamlined their FDA compliance procedures. “We have to provide detailed reports to the agency. We used to have a whole floor in the building to store the necessary compliance data. When reporting time came, it might take several days to gather the data together,” Deszell says.
Now, they have what they need when they need it. And when the pandemic hit, they were able to hire and train new people quickly as well as set them up to work remotely. “I can see us growing another 10-fold or more without outgrowing Acumatica. It’s the core of our manufacturing operations and the platform we’re building the business around.”
Deszell also says Acumatica is helping them overcome challenges and that the medical supplies software and medical devices software was put in place at the right time. “Along with NexTec, Acumatica was instrumental in ensuring we could get our coronavirus diagnostic tests to market as rapidly as we did.”
Learn More about NexTec and Acumatica Cloud ERP
DAS Medicals’ and InBios Internationals’ stories are perfect examples of how industry-specific ERP solutions like Acumatica and Acumatica’s inventory management, warehousing management and distribution software functionality can help medical professionals succeed even when faced with seemingly overwhelming challenges. NexTec’s ERP Selection Guide: Medical Supplies and Devices is a great resource for comparing and contrasting ERP options.
If you’re ready to implement a comprehensive Cloud ERP solution, such as Acumatica Cloud ERP, NexTec can help. We have partnered with more than 600 companies in over 26 years, transforming the way they do business. We know what we’re doing, and we’re committed to helping you make an informed buying decision. Contact NexTec today. We’d love to chat.