5 Reasons Life Sciences Organizations Need Cloud ERP

ERP Services for Life Science and Pharmaceutical Companies

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.

Life Science ERP for Life Sciences and Medical Devices

Checking off all 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 offers a solution that life sciences companies can use as a bundle or an ala carte. Here are five reasons all life sciences organizations should replace their aging, disparate systems with a unified cloud ERP:

• Save money with Life Science ERP software solution

  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. Many life sciences companies use the 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 with Life Science ERP and Technology Solutions

  When life sciences companies 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 saves our 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. For example, the fact that life sciences companies don’t have to hire new IT team members to manage their ERP means significant savings in both time and labor.

• 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 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 key performance indicators (KPIs)

  Because the Digital Operations Platform integrates industry-specific critical 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 lets life sciences firms focus on their 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 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 Enterprise Resource Planning ERP and an industry-specific platform built with them in mind. These companies can only achieve the speed, agility, and scale they need to make it over the finish line.