Selecting the Best ERP System for Your Medical Device Company in 2024

ERP for medical device company

In the last decade, we’ve seen the rise of efficient Enterprise Resource Planning (ERP) systems, especially in the medical device industry. With the right ERP solution, companies have streamlined their operations. They’ve also ensured compliance with industry standards, and maintained the highest product quality and safety levels.

Now that we’ve got the ball rolling, let’s look at two of the most popular ERP solutions for medical device companies – Acumatica and Dynamics 365 Business Central. 

Both offer a wide range of features tailored to the needs of manufacturers in the healthcare industry. But, in this blog post, we’ll compare the strengths of each platform and provide insights into how they can benefit medical device companies.

Understanding the Features and Capabilities of ERP Systems for Medical Device Industries

Acumatica and Dynamics 365 Business Central offer robust features and capabilities essential for medical device ERP systems. Here are some key features:

1. Financial Management

Both systems provide comprehensive financial management tools, including general ledger, accounts payable and receivable, budgeting, and financial reporting.

2. Inventory Control

Acumatica and Dynamics 365 Business Central offer management features for tracking and managing medical device inventory, including lot and serial number tracking, expiration date management, and reorder point optimization.

3. Manufacturing

Acumatica and Dynamics 365 Business Central support manufacturing processes, such as bill of materials (BOM) management, production planning, and shop floor control. These features are crucial for medical device companies involved in manufacturing operations.

4. CRM Integration

Both systems offer CRM integration to manage customer relationships, track sales opportunities, and provide better customer service. This is particularly important for medical device companies that rely on strong customer relationships.

ERP for Medical Device Companies

Acumatica: An Intuitive Cloud ERP System

Acumatica is a cloud-based ERP solution known for its flexibility, scalability, and ease of use. It offers a comprehensive suite of applications designed to streamline manufacturing processes, manage inventory, and track compliance with industry regulations.

Acumatica provides specialized functionality to address the unique challenges of medical device companies. With features such as lot and serial number tracking, quality management, and FDA compliance support, Acumatica helps ensure that products meet regulatory requirements and maintain the highest safety and efficacy standards.

One notable case study highlighting Acumatica’s effectiveness for medical device companies is that of OneMed HealthCare, a healthcare services provider in the field of medical supplies, hospital equipment, and supplements. They implemented Acumatica to create an affordable system for rapid growth with unlimited user licenses. They eliminated computer crash delays that hindered staff productivity. 

“Acumatica will speed up our business process and make us more efficient, benefiting our business and the clients we serve.” says Louis Hartanto, Co-Owner & Development Manager, OneMed Health Care.

Acumatica offers a range of products and services specifically tailored to the needs of medical device manufacturers. These include:

1. Manufacturing Edition

This edition includes features such as bill of materials (BOM) management, production scheduling, and work order management, allowing medical device companies to optimize their manufacturing processes.

2. Distribution Management

Acumatica’s module helps companies manage their supply chain more effectively. It ensures that the right materials are available when needed and reduces the risk of stockouts or delays.

3. Compliance Management

Acumatica’s compliance management capabilities help medical device companies track and document adherence to regulatory requirements, simplifying the process of obtaining FDA approval and maintaining compliance with industry standards.

Benefits of Acumatica

Microsoft Dynamics 365 Business Central: Comprehensive ERP Solution

Dynamics 365 Business Central is Microsoft’s cloud-based ERP solution for small and medium-sized businesses. It offers a range of finance, sales, purchasing, inventory management, and manufacturing features, making it suitable for medical device companies looking for an all-in-one solution.

Business Central provides robust functionality for managing manufacturing operations, including production planning, shop floor control, and quality assurance. With its seamless integration with other Microsoft products, such as Office 365 and Power BI, Business Central offers medical device companies a unified platform for managing their business processes and data.

A success story that illustrates the benefits of Dynamics 365 Business Central for medical device companies is that of Agappe Diagnostics Ltd (Agappe). The company primarily focuses on the research, design, and production of clinical chemistry, immunochemistry, immunology, and hematology reagents and equipment. Additionally, it provides point-of-care testing solutions to deliver high-quality and affordable diagnostics to customers.

Prasad Paulose, Head of Information Technology at Agappe, says, “By customizing Dynamics 365 to our internal processes, we were able to optimize efficiency and streamline workflows. The platform’s flexibility has allowed us to enhance customer satisfaction by delivering personalized experiences and addressing their needs promptly. We’re now equipped to excel in today’s dynamic market landscape.”

Dynamics 365 Business Central offers a range of products and services, such as:

1. Manufacturing Module

Business Central’s manufacturing module includes production planning, capacity planning, and shop floor control, helping medical device companies optimize their manufacturing processes and improve efficiency.

2. Inventory Management

Business Central’s inventory management capabilities help medical device companies track inventory levels, manage stockouts, and optimize warehouse operations, ensuring that the right materials are available when needed.

3. Quality Assurance

Business Central includes features for managing quality control processes, tracking defects, and ensuring compliance with regulatory requirements, helping medical device companies maintain the highest standards of product quality and safety.

Growth for Medical device companies

Which Cloud-Based ERP Solution Should You Opt For?

Both Acumatica and Dynamics 365 Business Central offer powerful ERP solutions tailored to the unique needs of medical device companies. Whether you’re looking for flexibility, scalability, or industry-specific functionality, both platforms have something to offer. By carefully evaluating your company’s requirements and considering the strengths of each platform, you can choose the ERP solution that best fits your needs and helps drive your business forward in the competitive medical device industry.

Acumatica

Acumatica offers a comprehensive suite of ERP modules, including financial management, inventory control, manufacturing, and CRM. Over time, Acumatica has earned many growing customers in the medical device manufacturing industry with its integrated suite of functionality spanning sales, production, inventory, quality, serialization, and batch traceability.

Dynamics 365 Business Central

Microsoft’s official website for Dynamics 365 Business Central provides information about its ERP solution and how it can benefit medical device companies. The company offers various add-ons and extensions to enhance the system’s functionality. It is the ultimate choice for smaller medical device manufacturers because it streamlines manufacturing, financial management, quality, and more.

Implement Powerful ERP Solutions For Lasting Growth

At AdCirrus, we offer customized ERP solutions from Acumatica and Dynamics 365 Business Central. Ultimately, we recommend you evaluate your specific requirements and consider factors such as features, case studies, and available products and services before deciding.

No matter what you choose, we’ll implement it for you. Drive the change with AdCirrus. Contact us today. 

Welcome to the AdCirrusERP Newsletter.

Click the button below to receive our ERP for Ecommerce white paper.

Industry Specific Edition

Acumatica cloud ERP’s Industry-Specific Editions are a unique combination of Acumatica cloud ERP functionality and functionality specific to a particular industry or industry segment.

For example, the Manufacturing Edition includes both manufacturing and distribution modules, as well as modules for field service and general business use. The Distribution Edition includes only distribution modules.

The Industry-Specific Editions include all of the core Acumatica cloud ERP functionality including:

  • Core Accounting
  • Core Billing & Invoicing
  • Core Business Management  (including project management and portfolio management)
  • Core Data Modeling & Validation  (using the same data model used in the Core Accounting module)
  • Core Enterprise Resource Planning  (including CRM integration)
  • Core Human Resources & Payroll  (HRIS integration with HR applications such as Zenefits)
  • Core Inventory Management  (including barcode scanning technology that can be used to identify inventory items based on their UPC codes or SKU numbers.)

Retail Commerce Management

Deliver a consistent customer experience across all your sales channels with full integration between your online, mobile, kiosk, and in-store service.

  • Reduce stock-outs and back orders 
  • Speed up order processing and fulfillment 
  • Streamline returns and exchange 
  • Provide an omni-channel experience 
  • Offer a world-class eCommerce presence 
  • Integration with web stores and POS systems

Project Management

Streamline project management: The project accounting suite enables you to track project costs, carry out planning and billing, and manage time and expenses while completely integrating with the fundamental accounting operations like general ledger and accounts payable.

Customer Relationship Management

Set up customer relationship management: CRM is an important tool for any business that wants to build strong customer relationships and retain customers. With Acumatica, you can set up a customer relationship management system that works for your business.

The CRM feature includes:

  • Customizable reporting dashboards
  • Powerful business intelligence capability
  • Service and support automated workflows
  • A customer self-service portal

Service Management

Maximize dispatching and boost revenue by scheduling the right people at the right time, and see real-time data for work taking place in the field.

  • Single version of the truth
  • Multi-dimensional reporting
  • Security by role
  • Custom reports and personalized dashboards
  • Multiple display options

Construction Management

Provides a complete, mobile-enabled cloud-based construction and accounting software solution.

  • Instant data access in role-based dashboards 
  • Native AI and ML for automation and data processing 
  • Superior compliance management 
  • Flexible drop-shipping to project sites 
  • Real-time connection among workers-field, office, and remote.

Sales Improvement

Acumatica’s sales management features can help businesses increase their sales and revenue.

Utilize Business Intelligence

You may gather crucial data from various sources and show it in reports made for quick decision-making with Acumatica cloud ERP. This software includes analytical tools for monitoring the state of your business. It identifies problems before they substantially harm your company.

Warehouse Management

Streamline warehouse operations and transaction to reduce errors, automate processes and increase productivity.

  • Reduce errors 
  • Increase customer satisfaction
  • Automate data capture 
  • Simplify tracking
  • Prioritized, direct picking 

Inventory Optimization

Optimize inventory: Acumatica’s inventory management tools can help businesses reduce inventory costs and improve stock levels.

Manufacturing Management

Built for make-to-stock, make-to-order, engineer-to-order, project centric, job shop, batch, repetitive manufacturing, and more.

  • Complete, multi-site cloud manufacturing control and planning system
  • Improve efficiency with intuitive, award-winning UI
  • Empower collaboration with cross-module workflows 
  • Create business resilience with our future proof design 

Order Processing

Use order processing: Order processing is another key feature of Acumatica ERP software. With this feature, you can streamline your order process and keep track of orders as they move through the pipeline.

Improve financial management

There are a number of ways businesses can make the most out of Acumatica’s features. For example, businesses can use Acumatica to:

– Improve financial management: Acumatica’s financial management tools can help businesses save time and money by streamlining accounting and financial processes. This functionality includes:

     General ledger incorporating real-time analysis fully integrated with all other features

     Accounts receivable and payable

     Cash, currency & tax management solutions

     Fixed assets

     Recurring revenue management