Success in the Biotech industry depends on time-to-market. Like any other manufacturer, Biotech companies are being pressured more than ever to introduce new products faster than ever before – and with higher quality and lower costs. Unlike many other manufacturers, though, Biotech companies are under an immense amount of pressure to recoup massive R&D costs.
Biotech firms face major challenges with workstream efficiency, maintaining regulatory compliance, and high operating costs. The only ways for Biotech companies to stay competitive is to constantly streamline activities and reduce compliance and operational costs. However, Biotech companies cannot let these goals threaten product quality, consumer safety, or value to customers.
We are finding that many Biotech companies are still using legacy systems and paper-intensive processes. In order to maintain a competitive advantage, executives in the Biotech industry need to be able to fully understand and address how certain business workstreams and activities impact margins and bottom-line profitability. This means they need end-to-end visibility across all areas of the organization, from finance and sales to manufacturing and quality management, to maintain margins and drive higher value – especially cash-intensive workstreams like R&D.
At the same time, Biotech companies need to reduce risks created by compliance with governmental and customer regulations by automatically supporting compliance with complex regulations. This alone can save valuable time and money.
It is extremely important that any Biotech company looking to undertake an enterprise transformation project works with a proven consulting partner with experience streamlining workstreams, mitigating risk, facilitating organizational adoption, and implementing compliant software solutions.
Merit Solutions enables Life Sciences organizations to transform their business with MAXLife, a robust and pre-configured Microsoft Dynamics AX solution that is deployed in the cloud using Microsoft Azure. MAXLife consists of pre-built business process models, industry-specific documentation, implementation templates, and integrations with top vendors – creating a preconfigured solution that can be “dropped in” with standard configurations or used as an “accelerator” for global deployments.
Learn more about MAXLife for Life Sciences.
Merit Solutions has been working with Life Sciences companies for more than a decade, helping them manage risk, ensure operating performance, maintain compliance, and pursue global growth opportunities. Through our industry-tested combination of front end process consultants, back end technology practitioners, and industry Subject Matter Experts, we have the expertise to enable your successful Life Sciences business transformation.
Our broad range of Life Sciences consulting services and IT solutions help address the challenges related to traditional processes, cultural resistance to change, and less scalable technologies – enabling successful improvement projects while operating in a globally regulated environment.
Life Sciences companies that partner with Merit Solutions typically experience the following results from their investments:
Merit Solutions helps our life sciences clients drive their business, process, and enabling systems changes required to achieve their strategic vision and goals. This includes everything from future state business process mapping to systems analysis, fit-gap process definition and scoping, sourcing, design and deployment, integration with other systems, on-going support, and systems validation.
Even before you receive your 510(k) approval, you should be using an ERP system to help you develop and document your procedures, track costs, plan materials and monitor product structures.
May 18, 2017