The Life Sciences field is always under pressure to stay above water due to cost pressures and related issues. Regardless, the outlook for this field is looking better, despite requiring constant technological advances to stay ahead. As your own life sciences company deals with these challenges, you’re perhaps faced with an acquisition to stay more relevant in your field.
Because your company has multiple complex layers, you’re probably not looking forward to having to consolidate everything into a new division. Doing all this on your own only risks making major errors that could catch up with you later.
The same could occur when forced to invest in new infrastructure because your current technology isn’t supported by the new partner.
At Esker, we can help Life Sciences companies deal with these issues in a way that processes everything so you have time to focus on acclimation.
Streamlining Order Entry
In addition to helping you keep within budget guidelines, order entry goes into the realm of online portals for supplier self-service. It’s a popular option now to use customer portals to give more transparency on the ordering process.
Your new transition benefits by maintaining a portal your suppliers can continue to use. They don’t have to learn complex new procedures just to get back on board with you and keep your longstanding relationship intact.
This brings better cash flow management, which is essential after a merger to avoid ruining any immediate financial advantages.
Setting Up Multiple Solutions
Having multiple technological solutions already in place during an acquisition helps you sustain your operations so you don’t have downtime keeping up with competitors.
In life sciences, you need everything from proper document delivery to technologies like archiving and improved workflow.
At the helm of this is using cloud technology to again centralize all your technologies and use safe storage for sensitive data. Considering the myriad government regulations involved in this scientific field, you don’t want critical data being lost if a disaster shuts you down.
Preventing Investment in New Infrastructure
Using all these technologies through the cloud eliminates need to invest in new hardware or software just to make your acquisition successful. Even through the ordering process, your customer service team can use a tool to manage EDI exceptions in a way that doesn’t rely on IT equipment.
The beauty of being able to provide many of your IT processes through the cloud places your life sciences acquisition on more solid ground
through your first quarter.
Plus, eliminating so much physical equipment allows you to use extra lab space for more quality hires to make your organization successful.
Contact us at Esker, Inc. to learn more about our procedures to streamline your life sciences organization when you’re ready to merge or spin-off to new plateaus.