If you’ve reached a stage in your business where you’re trying to boost efficiency, cut costs, and identify new growth prospects, you’ve probably come across accounts of other companies who have achieved similar results by implementing an enterprise resource planning (ERP) system.
Hundreds of thousands of businesses rely on ERP systems to acquire a competitive edge in their marketplaces. However, if your firm is small, you may be questioning whether your needs justify an ERP investment. You might also be asking who the main users of ERP systems are.
The quick answer is that your company’s nearly every department and business unit is a prospective user!
ERP MCQ With Solutions [Solved]
- Who are the primary users of ERP systems?A) Sales, marketing, customer service
B) Customers, resellers, partners, suppliers, and distributors
C) Accounting, finance, logistics, and production
D) All of the above
- C is the correct option
That’s because an ERP system is designed to work as a central nerve center for your organization, bringing together data from all areas of the business—accounting, HR, production, shipping, customer support, and more—to provide you complete visibility into your operations. Users of today’s cloud-based ERP software can access this information at any time, from any location, through a single dashboard.
As a result, users at all levels of the organization can save time, increase productivity, and focus on increasing business value.
The Enterprise Resource Planning System: The Basics
An ERP system can be used to centralize records, develop templates, track real-time manufacturing and distribution progress, and automate many of your commercial and operational activities.
When it comes to financial oversight, an EPR platform can save your accounting department a lot of work. They’ll have to manually enter data into several systems and then try to make sense of data collected from many apps at financial close or other times in the business cycle if they don’t have such a system. An ERP system establishes a single source of truth and can rapidly and effectively provide strong data analytics in one place.
Artificial intelligence is used in ERP systems to figure out what a user is trying to do and automate business processes accordingly. If your customer service staff receives a sales order, for example, the system can generate a buy order for you, complete with prices and valuations already set up online (including prices for insurance policies that many life sciences firms need). The system automatically inputs the relevant cost figures when it’s time to send an invoice.
Business Benefits of an ERP System for Life Science Businesses
The life sciences industry, in particular, has embraced this technology since companies in this sector are ideally positioned to profit from all of an ERP system’s commercial benefits.
For example, comprehensive analytics and reporting capabilities, as well as automated processes, can assist in ensuring FDA compliance.
Cost predictability is especially critical as a developing company, especially one in the life sciences, expands its activities. When an ERP system is integrated with the systems of vendors, users can get real-time information on materials and logistics to assist estimate and adapting demand or finding new methods to save money.
When it comes to manufacturing, an ERP system may give end-to-end traceability and documentation, as well as all of the quality and compliance data you need in one place.
ERP also makes it easier to comply with FDA and other regulatory regulations for things like business system certification. Life Science ERP Business Solutions are frequently reconfigured to fulfill FDA criteria, making validation easier.
ERP Life Science Business Solutions makes it easier to manage broader supply chains, multi-currency transactions, and growing workforce populations distributed around the world as a company grows to the point of extending into new areas.
A Life Science Software Solution Tailored for Your Business Needs
Many life sciences ERP solutions are available on the market that may be customized to make process changes fast and easily. Scalable ERP is vital since it allows you to start with the basics and evolve into more complicated scenarios as your company grows.
Before you start looking for the correct life science software, make sure you have buy-in from stakeholders across departments so that your teams can share their existing work process pain points and feel like they own the ERP system after it’s implemented. This is significant since it is a human inclination to reject new or unfamiliar things.
Everyone utilizes apps and software in some capacity in their everyday lives, so they have certain expectations for how they should function. As a result, you’ll need a modern interface with a straightforward menu and a layout that people at all levels of the company can grasp. Nobody likes to be forced to remember shortcuts in order to do their task.
As employees become more familiar with the platform, they should begin to recognize the advantages of an ERP system. This is why you must consider how you will handle training even during the planning and research stages. If this stage is skipped, it could sabotage ERP adoption and prevent further automation of corporate activities.
For more than a decade, Navigator has been assisting life sciences companies in laying a solid basis for growth through ERP.