Why SAP Business One is the Best ERP for Pharmaceutical Companies?

Pharmaceutical companies and the health care industry have been dealing with drastically increasing demands over recent years. As a result, many have found that ERP solutions can help to streamline their processes and reduce the damaging effects of complexity. They help to gain clearer visibility of all business sectors and therefore drive up the profitability. It is important to get an ERP solution that is specifically designed for Pharma industry so that, you can make the most out of your ERP solution.

If you are a pharmaceutical company looking to implement an ERP system like SAP Business One, here is what you must know.

Manage clinical trials: Pharma Companies can manage their clinical trials through an ERP solution. Product development is a key aspect for pharmaceutical companies to tackle. This involves numerous clinical trials that require planning, scheduling, and managing patient data. Furthermore, there are a number of costs specific to clinical trials that must be managed. An ERP solution can help reduce errors and make clinical trials run more efficiently.

Patents Management: Patents management is required by pharmaceutical companies for their survival. Obtaining a patent can be a very complex procedure, i.e., from the beginning stages when an idea for a drug is thought of, to later stages when one is registering for a patent. Therefore, it is important for an ERP solution to simplify this process.

Inventory Management: Ensuring that there is enough inventory on hand for operations is an important aspect. An ERP solution gives you real-time information on your inventory. Therefore, it can help prevent any inventory discrepancies, help your operations run significantly smoother, and optimize inventory control.

Latest trend updates: An ERP solution can help you stay on top of the most recent trends by gathering important consumer, supplier, and forecasting data. The integrated analytics will show you various opportunities for growth and help you steer away from areas that will hinder the success of your business.

Monitors each stage of drugs before commercial use: There are numerous stages that must be completed in order to introduce a drug for commercial use. This would require careful monitoring of drugs through each stage and recording of any product revisions that occur during the process. By automating this process through an ERP, you can store data accurately.

Know more about SAP Business One ERP for Healthcare & Pharma Industry