AI for Pharmaceutical- Pharmabiz Article
October 10, 2023
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Read how Pharmaceutical companies are benefitting by using AI along with the ERP solution
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Read how Pharmaceutical companies are benefitting by using AI along with the ERP solution
In today’s business landscape, efficient receivables management is essential to maintain financial health. ERP systems offer centralized customer data, automated invoicing, credit limit customization, and actionable triggers for control. Integration with payment gateways and analytics further enhance cash flow optimization.
Vision ERP’s role-based dashboard tailors views for specific users, enhancing productivity. Its AI chatbot streamlines transactions. Document data import and user-defined default values save time and reduce errors. Process trails and hyperlinks provide comprehensive views, offering a streamlined, user-centric approach for businesses to thrive.
The ROI on an ERP system cannot be measured by an absolute value but rather by the improvements it brings to a company’s business scenario. Implementing ERP can lead to various enhancements such as reduced inventory holding costs, streamlined payments, improved sales strategies, statutory compliance, and efficient reporting.
The best ERP software for small businesses should be as simple to use as an accounting system. Small businesses cannot afford the time, resources or disruption that comes with implementing a large-scale complex ERP system.
Cloud ERP’s true value lies in seamless integration with stakeholders, eliminating reliance on stand-alone systems. It offers real-time marketplace integration and enables cost-effective AI implementation, enhancing document processing, fraud detection, and business insights.
Cloud-based ERP solutions revolutionize SMEs and mid-sized organizations, offering cost-effective scalability, streamlined operations, enhanced accessibility, robust data security, and integration/customization options. This technology empowers businesses to optimize processes, enhance productivity, and drive growth.
The Order-to-Cash cycle starts with receiving a sales order executing the order and getting the payment against it. The sequence of events is as follows: Capturing the order along with the details of the items, quantities, rates, delivery terms, etc.
Multiple distribution channels, super stockists and CFAs need different controls, configurations, and GST compliances. Automation ensures accurate transactions, saving time and maintaining data integrity. Pricing definitions, batch tracking, and recall are crucial aspects addressed by Proteus Vision for an efficient pharmaceutical supply chain.
The company realized that it needed a very versatile inventory management system that allowed them to manage project-related inventory and allocate them to the project. Proteus Vision provided them with the necessary control from raising indents to acceptance of material and ensuring that all documentation was adhered to.