Some of the best enterprise resource planning tools ready to take on the world of healthcare.
Enterprise Resource Planning (ERP) is an extremely important piece of the business puzzle. These integrated management systems are designed to bring together a company's finances, supply chain, operations, business reporting, manufacturing, and human resources. Many companies try to bring together multiple applications to make this work, but inevitably these “frankensteined” systems rarely work as well as intended.
Given how overwhelmed the healthcare industry is right now, it's all this industry can do to keep everything running smoothly. Even during non-pandemic times, ensuring that any larger healthcare enterprise can handle the never-ending deluge of business decisions and information is a task that cannot be accomplished efficiently unless the right tools are in place. .
This is exactly why companies in this area must use an ERP system.
What is an ERP?
Simply put, ERP is a type of software that helps in the day-to-day management of the company. These activities may include accounting, purchasing, project management, risk management, compliance, and supply chain operations.
The concept began as a tool for manufacturing, where companies in the sector were looking for a more effective way to manage production. Material Requirements Planning (MRP) was the first type of system created for this purpose. MRP systems eventually evolved into more comprehensive ERP systems that integrate all company operations into a single, centralized system.
By placing all major operations, from human resources to finance and more, under the umbrella of a single system, it is much easier to interconnect tasks, departments, employees and records. An ERP system works around the idea of having a centralized collection of data to pull from, which makes it easier to link departments and functionality within a single source of truth. And as your business grows, even individual tasks can become daunting.
Some people tend to confuse ERP and finance. After all, finances are a big part of Enterprise Resource Planning. However, a real ERP solution takes a more comprehensive approach to resource planning, adding things like supply chain management, inventory, logistics, risk management, human resources, and customer relationship management. Therefore, you can think of ERP solutions as finance and resource management.
There are many ERP solutions perfectly suited for the healthcare industry. Of course, if you can't find the perfect software for your company, you can always hire a development team to create a custom ERP solution for you. If this isn't in your budget, take a look at one of the items below. Let's look at some of your options.
What are the benefits of an ERP for healthcare?
Especially for the healthcare sector, ERP systems offer numerous benefits. They include:
- Better data management and storage
- Automation of administrative tasks
- Greater productivity and efficiency
- Better compliance with healthcare regulations, guidelines and standards
- Reduced costs
- Better patient care and outcomes
5 open source ERPs for the healthcare sector
1. Oracle NetSuite ERP
Oracle NetSuite ERP is one of the most popular cloud-based ERP systems available for small, medium and large businesses. This ERP solution includes everything you need and unifies everything into a cloud-first system that adapts to the ever-changing healthcare landscape.
With NetSuite ERP, you can improve your business visibility and transparency, streamline reporting and compliance, improve customer service and partner engagement, integrate budgeting and forecasting, manage subsidiaries, business units and legal entities, and handle different currencies, tax rules and reporting requirements.
Oracle NetSuite ERP also includes automation, data analysis, business metrics tracking, sales and marketing forecasting, payroll, hiring, onboarding, compensation management, timekeeping, and tax benefit deductions.
2. Focus
Foco X is a fourth generation ERP system that, like NetSuite, is delivered via the cloud. With Focus who are not on the payroll.
Focus
One area that makes the Focus X interesting is integration. This ERP tool can be integrated with services such as Magento, QuickBooks, Paypal, Stripe, Google Workspaces, Office 365, Skype and MailChimp.
3. SAP
SEIVA is probably the largest ERP system on the planet. It's big, powerful, comprehensive, has won countless awards, is used by almost every business sector, and can meet any ERP need you have.
It's also incredibly complex, so much so that your company would likely need to hire a third party to take care of implementing the system and training your team on how to use it. But if you're looking for an ERP solution to handle every resource planning you need (and then some), this is it.
SAP is so big and important that it's safe to say that if it was ever done with an ERP system, SAP can do it (and probably originated the feature).
4. Working hours
Workday was designed specifically for the healthcare industry and is used by companies including Bon Secours Mercy Health, ChristianaCare, ChenMed, Dayton Children's, Teladoc Health, and Trinity Health.
With Workday ERP, you can improve spend control, unify data delivery efficiency, better engage suppliers, improve demand planning, automate workflows, and create a culture of collaboration and efficiency. You'll also find real-time data and performance monitoring, continuous planning and modeling, and automated financial processes.
5. Information
Another ERP system specific to the healthcare sector, Information is the platform for better patient outcomes. With this ERP solution, you can reduce equipment downtime to help protect revenue, optimize available inventory, improve room turnaround efficiency, secure complex interoperability challenges, decrease turnover by improving staff engagement, reduce eliminate non-productive administration time, employ mobile tools for better accessibility, incorporate cost and healthcare accounting, combine clinical and non-clinical data analytics, and streamline workflows with automation.
Infor is used by companies including Bozeman Health, Christus Health, SMH, HCA Healthcare, UCONN Health, and Mercy ONe.
Conclusion
Should your healthcare business face difficulties during a crisis or period of growth. With the right ERP solution, you can empower your team to make the right business decisions, manage resources, and dramatically improve the efficiency of your office, clinic, hospital, or pharmaceutical business. Take a look at one of these options and see if they don't meet (or exceed) your needs.
And remember, if you can't find a platform that fits your business, you can always hire an outsourced development team to build a custom solution.
Source: BairesDev
