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.
A Compliant ERP (Enterprise Resource Planning) solution is an integrated system designed to streamline and optimize business processes while ensuring adherence to relevant regulations and standards. These solutions offer businesses a unified platform to manage various departments, including finance, HR, supply chain, manufacturing, sales, and more.
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.
ERP implementations fail for several reasons: mismatched solutions, unrealistic expectations, user commitment, data cleanliness, and inadequate training. Backdated entries pose a common challenge. Thorough planning is crucial for successful Cloud ERP implementation.
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.
In the midst of the pandemic, remote work has transformed homes into multiple offices. This shift has slowed down operations and brought work to a standstill. A cloud-based ERP system offers integrated, paperless workflows and streamlined approvals, enabling seamless operations from anywhere.