While Biotechnology organizations face the typical challenges of spinning up a business, there’s also the added complexity of moving from product development to full-scale production in a highly regulated environment. Unlike a typical manufacturer, a biotech startup can ill afford a manufacturing defect or supply chain issue that temporarily affects quality due to the stringent regulatory requirements around biotech manufacturing.
A second reason that young biotech companies have a larger burden than a typical startup is the resources that must go into making a biotech startup a success. Because biotech is complex, there’s little room for starting small and learning as the company grows. A solid foundation must be set early, and scaling happens relatively fast compared with other young firms.
Why Biotech Needs ERP
For these reasons, having an enterprise resource planning solution (ERP) in place early is critical for biotech firms.
ERP solutions are end-to-end backend software that handles all aspects of a company’s operations, from financial management and human resources to production and logistics. ERP serves as the nerve center for a business, connecting all parts of a company’s operation and replacing a patchwork of unrelated software solutions that typically have trouble talking with each other.
For more on the basics of ERP, get our ERP Evaluation Guide, Life Sciences Edition.
Who is Navigator Business Solutions?
Life science companies come to Navigator when they find their ability to grow and/or adapt is being limited by their current business processes and systems. Navigator helps accelerate operational performance through digital transformation in life sciences software, so our clients can drive innovation, grow their business, become a leader in the industry, and increase market share.
Have questions? Connect with us: www.nbs-us.com | (801) 642-0123 | email@example.com