How ERP Helps With Business Finances in the Medical Device Sector

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Since the very beginning of the computing revolution, business software has enabled new milestones in productivity and operational control. Throughout many industries, companies that implement ERP are able to realize improvements remarkably quickly. Few would disagree that this is an era of expansive business regulations, as well. In particular, corporate finance rules are becoming more numerous and complex. ERP software provides crucial support for responsible firms that prioritize compliance.

The medical technology sector has long valued cutting-edge applications for business. In this growing industry, up-and-coming companies and veteran firms alike value innovative software. There is a growing need for inventory management software for medical device manufacturers or distributors. Medical devices are valuable enough that any amount of loss or damage can affect professional reputations and corporate bottom lines.

Exact Macola is a great example of a business software solution for small to midsized medical device manufacturers or distributors. Innovative and critically well respected, this product supports medical device manufacturing and distribution with serial lot traceability. This sophisticated functionality allows companies to control their inventories with conscientious care. With Macola, Exact has solidified its reputation in the world of business software. Importantly, this company is an established developer that will support its products for many years to come.

Wherever ERP is fully implemented, businesspeople report improved internal transparency and communication. Historically, midsized and larger companies have struggled to understand discrepancies between multiple data sets. With different departments working from differing versions of the same data, it is understandably difficult to realize maximal efficiency. Manually resolving discrepancies is a time-consuming process that can distract from more important tasks. With ERP software, data is streamlined and stays consistent throughout the organization. With this consistency, cross-departmental initiatives and projects can operate far more smoothly.

Like many other industries, the medical technology sector is facing new challenges along with increased opportunities. While the aging of the general population ensures a strong need for medical devices, political and regulatory changes can limit profitability. Instead of passively reacting, cautious firms are acting now to improve efficiency. ERP solutions like Exact Macola can diversely improve workflow processes for medical device manufacturers and distributors. Throughout the business world, ERP applications like these are proving their qualities time and time again.

Does Your Business Really Need Enterprise Resource Planning?

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Remember when your accounts receivable department consisted of a person with a sharp pencil, an adding machine, and a four column ledger?  Or how about when your inventory was handled by the high school kid who came in on Saturdays and counted what was in your warehouse?  While a trip down memory lane may bring a smile to your face, it will not bring clients to your retail space.

Today’s consumers are looking for much more.  Tech savvy and easily distracted by your competitors, consumers are doing their research on the fly.  They search the internet for today’s deals and the latest thing.  And they expect instantaneous, smooth service when they interact with your business as well.  This mindset extends beyond individual consumers into the business sector, as wholesale clients have similar expectations.

With the fast pace of business today, it may be time to get back to the basics of what really makes a business both productive and profitable for all concerned.  You know the answer.  Successful businesses keep up with consumer demand, and do it professionally.

To that end, modern businesses usually employ some type of enterprise resource planning technology.  Today’s ERP software must be much more agile than yesterday’s versions.  Examining the components of a comprehensive ERP system can greatly improve your position in the marketplace.

For instance, automation of accounts receivables does much to reduce the time your office staff spends on producing manual invoices, and also ensures quick delivery of those invoices to clients.  This in turn leads to improved cash flow, a real bonus to every business owner.

But a comprehensive ERP solution goes well beyond this.  Integrated software systems can trigger the creation of invoices when the order is filled, while also keeping a much more accurate and up-to-the-minute account of inventory status.  Such a system eliminates the redundancy of entering information into an inventory database and a receivables database.  What was done twice can now be done just once.  It is easy to see how this integrated approach saves time and money.

The same is true for your payables department.  Largely eliminating the need for written checks, an integrated ERP system greatly reduces labor-intensive tasks, freeing your staff to work on more profitable areas of your operation and providing for up-to-the-minute reporting of your cash position.

Not to be ignored are the benefits of ERP solutions which include a nimble CRM component.  With such a system, you can keep your finger on the pulse of your business by understanding consumer trends as they pertain to your enterprise.  This information is invaluable to the modern business owner, as it enables a rapid response to customer demand and optimizes your position in the marketplace.

For more information about how ERP software can work best for you, please contact us today.  We will be glad to help you reach your goals with seamless efficiency and optimum performance.

Advantages of ERP Software for Retail

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Enterprise Resource Planning (ERP) systems are software programs that integrate data and retail business processes into a unified Information System (IS).

Prior to development of  ERP software, the retail industry was consigned to manage all inventory data separately. It’s like going back to accounting using an adding machine.

Fortunately today there are efficient software programs that tie all the logistics of most industries together into one comprehensive program to store, manage, collect and interpret information from all segments of the processes. 

DMS Retail, an online ERP newsletter, says that ERP manages the information from the manufacturing and delivery sector, manages inventory, tracts the cost of production and planning and follows marketing and sales data. 

The system functions from a central database that holds all the data relating to the various modules. In order to achieve a smooth utilization, the ERP system uses various hardware and software units. The system is designed to expedite the applications and optimize internal business processes across an organization. ERP has become the most competitive tool for retail organizations.

The ERP software packages have an enterprise wide reach that offers cross-functional capabilities to the organization. The different functional departments involved in the operations or inventory processes are integrated into a single system. An ERP program takes care of the various business processes such as logistics, order entry,  and warehousing. It integrates different business functions such as accounting, marketing, strategic management and the human resource management.

For more information about how we can help you with your ERP needs, contact us.

Using a Software Reseller

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Software resellers provide a number of benefits to businesses– especially when compared to buying directly from the distributor. When using a software reseller, the client is able to interact with a smaller company; this makes getting customer support and assistance easier, especially when the company is heavily focused on providing customers with the support that they require regardless of the type or size of purchase that they made.

Support for newly purchased software is fundamentally important for businesses of all sizes, and purchasing from a software reseller is one of the primary ways to ensure that a business receives the support necessary to avoid interruptions to organizational procedure as a new piece of software or system is integrated into the overall framework of the organization.  It can also help a business understand better the software they are purchasing– this can help newer, smaller businesses avoid costly mistakes when first looking for software solutions to common business problems.

Some resellers even offer higher value points to their customers: these resellers are known as  “Value Added Resellers,” or VAR.  These resellers offer the same benefits as other software resellers, but they can sometimes specialize software even more for the client or customer, essentially building the perfect platform for a business from the generic software platform provided by the software company.  

Building company-specific systems helps streamline business processes regardless of the market niche; it provides organizations with more freedom to explore other business options as well, because of the specialized nature of the software. The Mayer Group provides both software resale services and VAR software resale services to organizations in a number of different fields, as well as an in-house, U.S.-based customer support solutions for businesses of all shapes and sizes.

Is ERP On-Site the Best Business Solution for You?

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Everyday companies are facing the challenge of how to enhance productivity. Deciding to go with cloud hosting verses ERP (enterprise resource planning) on-site software is tedious since there is really no right or wrong choice, but rather an issue of accessing your company needs and forming a strategy to find the best solution. Here are some advantages to consider regarding on-site software as a viable solution to your business needs. There are numerous advantages to utilizing on-site software, control being the most appealing. Consideration of on-demand or cloud hosting requires no data licensing costs, new infrastructure requirements along with employing third-party services.

With data security being an increasing concern companies are looking for ways to take back control preventing data leaks, security threats and other problems related to sensitive data. By deploying the ERP on-site model a company has the freedom to oversee their systems, data and most important the peace of mind that comes from knowing that critical business infrastructure resides in-house. If companies view employing IT as an investment, that investment is directly proportional to the requested scale solution. The average time frame for an on-site program is approximately 5-7 years.

ERP on-site allows for complete visibility into all the important processes, across various departments in an organization. Multiple geographic locations are also supported by network infrastructure. Although you need a license, the company owns the software. In addition to the upfront cost along with the annual maintenance /subscription renewal ranges about 20-25%.

Is ERP on-site the right choice for you? The answer lies in accessing your company’s needs and applying the best strategy. Cloud hosting is one choice among many, the good thing is it’s not the only option to consider for your business. Your option to determine the best way to grow your company is neither right or wrong however ERP on-site is recommended.

Contact us today to find out more information about how our consultation staff can help you with your manufacturing, distribution and service needs.

ERP for Medical Devices

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The Medical Device industry is closely related to digital health which involves merging of the genetics and digital revolutions with health, living and society. It permits you to track, manage, and improve wellness as well as improve efficiency in healthcare delivery. Some of the important elements of the medical device industry are:

  • Wireless devices
  • Hardware sensors
  • Microprocessors
  • The Internet
  • Mobile area networks
  • Genomics
  • Health information technology

Enterprise resource planning, (ERP), for medical devices is software that allows your organization to use an integrated applications system to manage your business and automate back office functions. Compliance with the Food and Drug Administration and other regulatory bodies is a challenge in the business world. Fortunately, ERP systems bring together the tools needed to meet these challenges. Some of the benefits are:

  • More efficient workflows.
  • Visibility into processes for ongoing improvement.
  • Data re-entry prevention.
  • Improved data security.
  • Facilitation of collaboration activities.

Medical Device manufacturers need customer relationship management capabilities that support relationship sales strategies, mobile field sales, service support, inventory management, marketing, and accounts planning. Two software products available are:

  • Role-Based Workbenches which increase productivity up to 50 percent. They allow workflow to be configured for each user’s role.
  • A Mobile Metrics application that gives you access to your data from a tablet or smartphone anywhere, anytime.

Being successful in the Medical Device industry depends on your company’s ability to produce high quality products faster than your competition. ERP software solutions provide excellent financial management, product management and customer relations management.

For more information contact us.

5 Reasons You Need Well-Integrated Manufacturing Software

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When choosing a manufacturing software, you have many options available. Whether you are a fresh start-up looking to lay down the groundwork for your operations or you are looking to overhaul and increase the annual profit margin of your business, whatever your situation, you know that ERP software has worked for businesses like yours. You want to find the most cost-effective, productive option. So, here’s a few key focal points to consider:

 

Manufacturing Software for Long-Term Management

You want manufacturing software that will break down the key data for management, so you know the long-term decisions you need to make. First and foremost, you need a software which will give you the comprehensive, bird’s-eye view you need.

 

Manufacturing Software for Supervisors

In addition to the bird’s-eye view, you want manufacturing software that will let you know what is really going on at any point in time. Your ideal manufacturing software should know, moment-by-moment, what you have on hand in terms of personnel and other resources, and who is responsible for handling those resources.

 

Manufacturing Software That Is User-Friendly

As has been said many times, the best software in the world is not going to do much good if you don’t know how to use it. Make sure that you have taken the chance to see live demonstrations of the software, how it works, how it tracks information, how you ask for data, how reports will be presented. Consider making a list of the kinds of data you’re looking for, information you want to make sure will be in there and reports you must have.

 

Manufacturing Software That Will Achieve Buy In

Your manufacturing software has to work for all your employees. As with any major software implementation, make sure you have notified and properly trained all who will be using it. Even if you cannot please everyone in your company, advance notification can do wonders, as well as carefully soliciting opinions.

 

Manufacturing Software That Will Suit Your Business

Last but by no means least, look for the manufacturing software that will work with your unique business model. Find an ERP vendor that you are willing to view as a business partner, working together for your needs.

Mayer Group would love to be that partner. For more information on Macola 10 and our integrated suite of manufacturing software products, contact us today, and let’s get started.