A Guide to Transformation in the Cloud for your Life Science Company

Unleashing growth, compliance and productivity

In a life sciences business, there is no lack of data related to product development, clinical trials, production (in-house and contract manufacturing), quality assurance, costing, the supply chain and other areas of the operation.  How do you make sense of it without investing in compliance, data processing and analytical technologies?

Moving to the cloud can help you cut costs and achieve compliance, but you run the risk of needlessly limiting the potential cloud benefits you can achieve by focusing on financials alone. We recommend considering all the 4 following aspects of cloud computing in your planning.

Download our guide to learn the 4 reasons why life sciences and the cloud belong together!

At Tridea, we help our life sciences customers digitally transform their businesses and improve the value realization of their business application investments. We mitigate the inherent risks associated with implementing, upgrading and replacing legacy ERP systems. We lead our life science customers with best-practice consulting services we have refined over thousands of engagements. We take care of our customers and aspire to keep them for life.

To learn more about how Tridea can help you get the most out of your Microsoft solution in the cloud, visit our website.

What Life Sciences can Accomplish in the Cloud

How does moving to the cloud help achieve your goals for growth, innovation, and competitiveness, and what are some of the main outcomes of transitioning to the cloud that you might want to anticipate and plan for?

Predictive maintenance ensures the uptime, productivity, and performance of your infrastructure

For many life sciences companies, evolving legacy systems from condition based to predictive, enabled with data insights from IoT, is an important use case for cloud technologies.  Your analysis of data coming from connected devices, and the IoT, allows for improved communications with your contract manufacturers, 3rd Party Logistics providers or in-house manufacturing team.  This connectivity allows for you to anticipate and avoid poor decisions on R&D and product movements throughout the enterprise.   That intelligence enables you to keep product innovation to occur quickly and/or fulfilment of orders to be as efficient as possible.

People, trading partners and market visibility enables complete, contextual intelligence to help you meet company objectives

In life sciences, the ability to compete as a viable, relevant business depends largely on your ability to understand and control product research and supply chain. This learning offers an avenue to intelligence that overcomes the practical and conceptual boundaries of individuals, who are easily misled by their selective awareness of events and trends. Instead of acquiring the tools and building your own intelligence systems, you can take advantage of the resources available in the cloud today. When you connect your industrial assets or the complex products to the IoT, storing and processing the data in the cloud, they become available to cloud intelligence that can combine with data from your entire operation.

At that point, your insight is not limited to your individual employees. You can surround it with contextual information about R&D, material planning, training and the supply chain. If you want to cast an even wider net, you can also assess customer behaviors, market trends, and competitive threats, and correlate those findings with your R&D and product management.

Collaborative innovation opens additional revenue streams and increases team efficiency

Predictive maintenance is a great achievement that your internal and external customers will appreciate. No need to stop there. Cloud-enabled, intelligence-driven collaboration with your customers can help you understand them much better, strengthen the relationships with them, and maintain your share of their attention and spending. It can also result in product enhancements that you might eventually launch to your entire market.

Within your organization, you can rely on the performance and scalability of cloud resources to enable scientists, partners and rest of the workforce collaborate from anywhere. They can use cloud-based virtual reality modeling to work together on new formulas and products. You save the expense and disruption of business travel by your skilled innovators, and you enable them to collaborate always, not just on special occasions.

Service provider expertise lets you make more strategic use of your own IT department

If your IT department is fully occupied with the day-to-day activities of keeping applications, networks, and infrastructures running and secure, you can move most of these routines to the cloud and let your service provider handle them. Instead, you can use your in-house IT resources to perform custom development and other high-value tasks that help you move forward. Working with a strong cloud service provider, your IT team can efficiently learn the skills of development, provisioning, resource management, and security in the cloud, especially if you maintain a hybrid environment that requires integrations between on-premise and cloud computing. You can draw on your service provider’s specializations, for instance, to enable advanced intelligence, collect and process large volumes of data, or take the complexity out of working in the IoT.

Worldwide resources and networks let you grow at your own pace while being compliant

Leading cloud providers maintain advanced cloud infrastructures in global networks of data centers. They will have a data center close to your headquarters, and, when your company reaches across the globe, they can support you wherever you go. That means you can grow in the cloud at your preferred pace. If you want to take a measured, low-risk approach, you could move just one workload into the cloud – product engineering, for example – to start with, and test the new infrastructure’s performance, reliability, and analytical capabilities. You continue your cloud migration at the right time.

When you’re ready to increase the momentum, you can take advantage of cloud-based ERP and CRM resources with multi-language and multicurrency features to reach customers and markets anywhere. If you’re operating production and distribution facilities in several countries and regions, the cloud offers an efficient way to make corporate systems and information available to them and connect their processes to the entire organization.

Transform your life sciences business in the cloud

Starting now, you can act on the cloud opportunities that offer the highest benefits. Together, Tridea Partners technology and expertise, Microsoft Dynamics 365, and the analytics resources available on the Microsoft Azure cloud can make life sciences business growth in the cloud practical, fast, and affordable. Before, during, and following your move to the cloud, we help you optimize processes, increase efficiencies, and reduce costs. We offer proven, practical solutions and approaches within an affordable subscription model that eliminates distractions and lets you focus on results.

At Tridea, we help our life science customers digitally transform their businesses and improve the value realization of their business application investments. We mitigate the inherent risks associated with implementing, upgrading and replacing legacy ERP systems. We lead our life science customers with best-practice consulting services we have refined over thousands of engagements. We take care of our customers and aspire to keep them for life.

To learn more about how Tridea can help you get the most out of your Microsoft solutions, visit https://www.columbusglobal.com/en-us/resources/landing-pages/us/tridea-lifesciences-erp/life-sciences-ebook  or contact us at info@trideapartners.com

5 Key Features to Look for in ERP Software for Life Sciences

ERP for Life Sciences

The Life Sciences industry is unique in many ways, especially because it “evolves” as companies go through the life cycle from pre-clinical to market. Each of the phases of this life cycle have their own unique requirements, but commonly we come back to the same 5 key features that companies need to address with their business management and ERP systems:

  1. Compliance

When the FDA is in charge of the market you’re launching your new Life Sciences product into, patient and customer safety extends far beyond company guidelines. They set the standards for thresholds and validation of your business systems including security, manufacturing, quality controls, audit trails, and overall Good Informatics Practices.

  1. Traceability

You hope the day never comes where your product has quality issues or has some adverse effect, but you can’t be any too careful to ensure you have the right tools to minimize the impact on the patients or customers. It also makes good business sense to understand the quality of products that are going to the customer in order to make improvements to future products.

  1. Real-time access to information

There aren’t too many industries where change is so rapid or control of ‘spend’ is more important than in the Life Sciences industry. Therefore, you need a system that can give you the right information at the right time through powerful reporting tools.

  1. Cost Management

Access to funds isn’t quite as easy as it once was, and a significant amount of funding is needed to support R&D efforts for the creation of the next big drug or device. Therefore, you need a system that can monitor the ‘spend’ to vendors and provide visibility into day to day expenses.

  1. Commercialization Support

The big day comes with approval of your new drug or device and now you need to ramp up sales, production, and fulfillment. This needs to happen yesterday and you need a system that can support the many processes that come with the product going to market including; manufacturing (or integration to manufacturer), 3PL integration, sales and marketing, production planning and quality management.

Visit https://www.columbusglobal.com/en-us/resources/landing-pages/us/tridea-lifesciences-erp/infographic to learn more about ERP software for life sciences.

ERP and Tracking Aggregate Spending for the Pharmaceutical Industry

Pharmaceutical manufacturers that are looking to implement a new ERP system will invariably ask about options for meeting requirements of the Sunshine Act, which was enacted to protect consumers by ensuring transparency in the reporting of financial relationships between pharmaceutical companies and health care providers (HCPs). While pharmaceutical companies generally purchase a software system specifically designed to track their aggregate spending to HCPs, the ERP system generates much of the information that is fed into the aggregate spend system.

Typically, money flows from pharmaceutical manufacturers to healthcare providers in three forms that are generally handled in three very distinct manners:

  1. AP invoices directly to HCPs

Vendors that are HCPs are defined as such in the ERP system. Any expenses that are booked in the ERP system directly to HCP vendors are pushed to the aggregate spend system via an integration. Typically, a relatively small number of HCPs become direct vendors in the ERP system. The process of setting up new vendors is generally a highly controlled process that lends itself to accurately defining and identifying an HCP.

  1. Employee expense reimbursement

Employees of the pharmaceutical company meet with HCPs and incur expenses that need to be reimbursed to them by the company. Assuming the company has an expense reimbursement system (such as Concur, for example), the expense reimbursement software generally just feeds the core accounting (general ledger) data to the ERP system, and sends the HCP spend information directly to the aggregate spend software. It is therefore necessary to have the HCPs defined in the expense reimbursement system, but the ERP system is not involved in this process.

  1. AP invoices to 3rd party vendors that benefit HCPs

While it is possible to capture this data in the ERP system (on a custom field linked to the PO or invoice) and push it to the aggregate spend system, there are some complicating factors that lead many companies to opt to manually enter these transactions into the aggregate spend software or else upload vendor documents directly to the aggregate spend software in addition to recording the invoices in ERP:

3.1  Timing

At the time that a PO or invoice is entered, do we necessarily know which HCPs will benefit from the spend? For example, speaker bureau invoices often arrive in advance of the list of attendees (HCPs)

3.2  Accuracy

HCPs that benefit from expenses incurred with 3rd parties can be very large in quantity. Ensuring that the correct HCP is selected and linked to an expense can be difficult, especially when many health care providers may have similar names (or even the same names). In such cases, AP clerks that have no direct knowledge of the circumstances surrounding the expense could have a difficult time selecting the correct HCP. Aggregate spend software systems typically have matching algorithms to accurately identify HCPs.

 

Why Tridea Partners?

Tridea Partners helps companies unlock the value of their business applications. By engaging Tridea Partners, you gain a partner that is committed to your business success. We work with you to automate your company’s unique business processes, integrate existing systems and people, assist with necessary business practice adjustments, and ensure the solution will scale with your company’s growth.

Personnel: Tridea Partners focuses on hiring consultants with deep experience in the Life Sciences industry and has gained extensive experience through the completion of over 100 ERP implementations in the industry.

Solutions: Tridea Partners has developed custom software solutions that enhance and extend Microsoft Dynamics ERP to support the needs of the Life Sciences industry, specifically project accounting, quality assurance and order entry.

Implementation Methodology: Tridea Partners uses an implementation methodology that addresses the challenges within the Life Sciences industry. This implementation methodology focuses around a detailed understanding of key business processes, segregation of duties, security and audit trails, collaborative configuration, sign-off and finally testing and system validation.

To learn more about how Tridea Partners can help you get the most out of your Microsoft solution, visit our website or contact us at info@trideapartners.com

Discover how Life Sciences Industry Software Solution can restore innovation, decision making, compliance and operations

The possibilities are really endless in the Life Sciences Industry with products created every day that are changing lives for the better. That’s a lot of weight for one industry’s shoulders and without a comprehensive Enterprise Resource Planning (ERP) solution in place, it’s easy to lose sight of these important end goals.

Time-to-market and profitability pressures are also more intense than ever before. Life Sciences organizations need to balance the manufacturing of existing products as well as the creation of entirely new products against the demands of the market today.

Discover how to manage all of this while also nurturing innovation, improving decision making, and streamlining your current operations

Research

Discover how your research teams can have intuitive tracking and management tools right at their fingertips.

Development

Discover how you can have real-time access to production processes and overall business operations to ensure development goes smoothly and issues are addressed before they cause major problems.

Regulatory Compliance

Discover how you can be sure the appropriate controls, audit trails, security, and documentation requirements are met for today’s regulated environment.

Release to Market

Discover how you can have proper project accounting and advanced requisition systems in place to control project costs.

Discover how Microsoft Dynamics ERP manages all this and more with the following functionality

  • Microsoft Dynamics ERP provides rich functionality to support production and commercialization processes.
  • Microsoft Dynamics ERP automatically documents and captures how a given business process is transacted in the ERP system, supporting key compliance requirements for the FDA including 21 CFR Part 11, Standard Operating Procedures (SOPs) and Good Manufacturing Practices (GMPs).
  • Microsoft Dynamics ERP supports serial/lot control, quality assurance, system validation, and requisition management (including ‘Punch Out’ to lab vendors).
  • Microsoft Dynamics ERP breaks out cost allocations for projects.
  • Microsoft Dynamics ERP enables you to improve product quality and safety, reduce organizational risk, and increase customer satisfaction through controlled document management, audit trails, and electronic signatures.
  • Microsoft Dynamics ERP captures and manages costs, including time and expenses associated with performing clinical trials

Why Microsoft Dynamics and Tridea Partners?

Tridea Partners helps companies unlock the value of their business applications. By engaging Tridea Partners, you gain a partner that is committed to your business success. We work with you to automate your company’s unique business processes, integrate existing systems and people, assist with necessary business practice adjustments, and ensure the solution will scale with your company’s growth.

Personnel: Tridea Partners focuses on hiring consultants with deep experience in the Life Sciences industry and has gained extensive experience through the completion of over 100 ERP implementations in the industry.

Solutions: Tridea Partners has developed custom software solutions that enhance and extend Microsoft Dynamics ERP to support the needs of the Life Sciences industry, specifically project accounting, quality assurance and order entry.

Implementation Methodology: Tridea Partners uses an implementation methodology that addresses the challenges within the Life Sciences industry. This implementation methodology focuses around a detailed understanding of key business processes, segregation of duties, security and audit trails, collaborative configuration, sign-off and finally testing and system validation.

To learn more about how Tridea Partners can help you get the most out of your Microsoft Dynamics solution in the cloud, visit www.trideapartners.com or contact us at info@trideapartners.com

Life Sciences ERP Solution