NetSuite: A Modern Cloud ERP for Medical Device Companies
With NetSuite, medical device manufacturers and distributors can quickly get their products on the market while also streamlining various business functions. NetSuite’s cloud-based technology offers a wide range of features to help medical device companies manage operations, including inventory and supply chain management, order tracking and fulfillment, financials, and analytics. NetSuite also provides an end-to-end platform for in-house and contract manufacturing, contact relationship management (CRM) and quality control.
This comprehensive suite helps medical device companies save time, money and resources while maintaining compliance with industry regulations. NetSuite is an ideal choice for medical device businesses of all sizes, from small startups to established enterprises. By harnessing the power of cloud-based technology, medical device companies can improve efficiency and simplify their business processes – ultimately leading to greater success.
Challenges Medical Device Manufacturers and Distributors Face
The medical device industry is highly regulated, making it challenging for businesses to remain compliant while also meeting customer demands. Companies must find ways to reduce costs and increase efficiency without sacrificing quality or compliance with industry standards. With NetSuite, medical device companies can gain 360-degree operational visibility into all aspects of their business, allowing them to make better-informed decisions that improve customer experience and increase profitability.
Supply Chain Optimization
One of the biggest challenges for Medical Device Companies is streamlining their supply chain to ensure that all parts of the process are managed accurately and efficiently. NetSuite’s cloud-based technology provides a comprehensive solution for streamlining supply chain management, allowing companies to track inventory and manage orders at a global scale across multiple locations. With powerful analytics tools, medical device manufacturers can quickly identify inefficiencies and make adjustments to optimize their supply chain.
Finance and Accounting Automation
NetSuite also provides powerful tools for automating finance and accounting functions. Companies can easily manage accounts payable, accounts receivable, payroll, taxes and other financial processes in one convenient place – saving time and money while ensuring compliance with industry regulations. Additionally, NetSuite’s intuitive dashboard provides insight into financial performance, allowing companies to quickly identify areas needing improvement.
Streamlining Customer Relationship Management
NetSuite’s CRM technology is designed to help medical device companies improve customer engagement and satisfaction and streamline their complex sales cycles. With powerful tools for managing existing customer relationships and new business channels, medical device businesses can easily keep track of quotes, opportunities, sales, and customer service inquiries.
Gaining Visibility Over Manufacturing (Internal and CMO)
NetSuite offers a comprehensive solution for managing in-house and contract manufacturing. Companies can easily track their production process from start to finish, ensuring that each step is completed accurately and on time. With this visibility, medical device manufacturers can quickly identify any potential bottlenecks in their manufacturing process and adjust work order plans to ensure their production line is fully optimized.
Complex Global Inventory Management
Medical Device companies exist in a global market, making effective inventory management essential for maintaining customer satisfaction. With NetSuite’s multi-site inventory functionality, companies can easily keep track of their stock across multiple locations and channels to ensure customers have access to the products they need when they need them.
Staying on Top of Quality Control
NetSuite also provides a comprehensive set of tools designed to help medical device companies stay on top of quality control. With real-time analytics and powerful reporting capabilities, companies can easily identify non-conforming products and take corrective action quickly to ensure their products are being made to the highest standards.
NetSuite’s modern cloud software is the perfect solution for medical device companies looking to streamline their operations and increase efficiency while remaining compliant with industry regulations. With its powerful reporting and saved search capabilities, as well as a fully accessible audit trail, you can be sure that your business is continually compliant with industry standards and able to prove it to relevant authorities and governing bodies.
Benefits of NetSuite for Medical Device Companies
NetSuite provides an array of features and benefits to medical device companies, including:
- Streamlined operations – Automate processes and eliminate manual data entry to save time and money.
- Real-time visibility – Monitor operations in real-time to quickly identify and mitigate risks.
- Reduced costs – Reduced overhead costs while maintaining compliance with industry regulations.
- Improved customer satisfaction – Streamline the sales cycle to improve customer engagement and satisfaction.
- Comprehensive analytics – Gain insight into financial performance and quality control processes.
Zanovoy are Medical Device Industry Experts
Zanovoy is a leading IT Consultancy based in New York, USA. Since 2015, we have been helping medical device companies implement NetSuite and leverage its powerful cloud-based technology. We have also created extensive enhancements to NetSuite to further align the system to the industry requirements, resulting in a modern and holistic business management platform.
With a team of experienced professionals, we provide complete implementation services from start to finish – including system selection, implementation, customization, training and ongoing support. We also offer custom development solutions tailored to your business to provide additional functionality and advantages.
We also offer comprehensive IT Managed Services, Business Transformation and Data Transformation consulting to help your company not only make the most of NetSuite but also a wide range of software solutions for the Medical Device industry, including Coupa, Gainsoft, Celigo, Adaptive Insights and Avalara.
To take your business to the next level, contact us today to discuss your medical device company’s needs and how NetSuite can help you achieve your business goals. We look forward to hearing from you.