The life sciences industry is a rapidly evolving space faced with tricky regulatory compliances, frequent spin-offs or acquisitions and high employee turnover in customer service. In order to deal with this ever-changing landscape, traditional operating models must adapt.
However, despite being an industry of innovation, it’s not uncommon for life sciences companies to be behind the times when it comes to their back-office operations. While it’s true that many life sciences companies already have an ERP/business application in place, they are still limited in their ability to streamline order management (e.g., still having to manually key in orders, dealing with EDI exceptions, etc.).
The price of not filling in the gaps of manual order processing is a steep one. With many life sciences companies having a hard time maintaining margins due to the industry challenges they are faced with, it’s more and more important to accelerate business cycles, increase operation efficiency and improve customer service.
Negative Effects of Manual Order Processing
Life sciences companies still receive the majority of their orders from hospitals, clinics, and practices via fax and telephone. As a result, the order-taking process relies heavily on paper-based processing and manual intervention.
Below is a quick glimpse into issues with manual order processing and their impacts on business:
Looking to Automation for the Answer
Order processing automation solutions are equipped with features that allow life sciences companies to streamline every phase of their order management process and reap numerous benefits. Through the use of an electronic workflow, OCR technology and paperless archiving, companies can:
- Reduce order processing costs and errors
- Improve employee efficiency and collaboration
- Increase process visibility via real-time tracking
- Prioritize urgent orders via keyword detection tools
- Measure and analyze Key Performance Indicators (KPIs)
Read the new white paper to learn more about how your company can manage order processing in an evolving life sciences landscape, including real results from businesses in the life sciences industry!