Most firms begin as small businesses. As time goes by, a percentage of these firms grow and some grow very large. To drive and sustain this growth life sciences organizations need an effective technology system to manage their business, but with limited resources and time, many life sciences professionals are not in a position to implement an on premise enterprise resource planning solution as they prepare to go into production with a product and grow.
When life sciences organizations grow or move a product into production, they are confronted by change. They often face challenges to the capital structure, staffing, marketing and even technology aspects of their firm. While the smallest businesses may be able to exist with spreadsheet based or entry-level accounting software, growing enterprises will want to adopt new technologies that are better suited to handle the increasing business challenges as well as compliance and security requirements that growing firms encounter. It is at this juncture that life sciences organizations will consider cloud based ERP software.
This white paper examines four key questions:
- How do we know we need a new ERP system?
- What delivery models are available for ERP software today?
- What are most important factors to consider in a modern ERP selection?
- What are the potential benefits to accrue to our firm with the new solution?