NEWSWIRETODAY Press Release& Newswire Distribution | HOME
MOST TRUSTED NEWSWIRE PRESS RELEASE DISTRIBUTION
PRTODAY / NewswireToday press release distribution service network
More news: Software
Written by / Agency / Source: NetSuite, Inc.
Check Ads Availability|e-mail Article

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

UK Medical Device Manufacturer Transforms Business Performance and Profitability with NetSuite Cloud ERP - NetSuite Enables P3 Medical to Boost Margins, Efficiency and Customer Satisfaction [NYSE: ORCL] - P3-Medical.com / NetSuite.com
UK Medical Device Manufacturer Transforms Business Performance and Profitability with NetSuite Cloud ERP

 

NewswireToday - /newswire/ - London, United Kingdom, 2017/05/19 - NetSuite Enables P3 Medical to Boost Margins, Efficiency and Customer Satisfaction [NYSE: ORCL] - P3-Medical.com / NetSuite.com. NYSE: N; ORCL

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Oracle NetSuite Global Business Unit, one of the world’s leading providers of cloud-based financials / ERP, HR, Professional Services Automation (PSA) and omnichannel commerce software suites, today announced that P3 Medical Ltd (p3-medical.com), a manufacturer and distributor of medical devices, has transformed business performance and increased profitability as a result of replacing multiple legacy applications and spreadsheets with NetSuite in 2010. P3 Medical, doing business in more than 50 countries, is now saving £100,000 a year in improved manufacturing efficiency and another £25,000 a year in administration costs with NetSuite, while avoiding a £75,000 capital investment for an equivalent in-house infrastructure. Headquartered in Bristol, UK, with a second facility in Preston, P3 Medical makes extensive use of NetSuite capabilities for manufacturers to streamline production and inventory management, while enhancing margins and pricing with detailed real-time visibility into all costs to produce a given product with NetSuite’s robust standard costing feature.

Across the business, the 80-person company has further optimised efficiency by using NetSuite as a single, integrated system for financials, order management, regulatory compliance, CRM and ecommerce, offering its hospital, clinic, distributor and subcontractor customers a convenient online channel to order many of its 4,000 products. P3 Medical also takes advantage of NetSuite’s multi-currency capabilities for product sales in the U.S. dollar, Danish krone, Swedish franc, Euro and British pound, while gaining a competitive advantage against larger competitors and sharpening its differentiating focus on low-volume, niche products used in the operating room and specialised surgical procedures, rather than high-volume commodity medical supplies. NetSuite’s customisation capabilities have enabled P3 Medical to tune the solution to its unique needs, driving additional efficiencies across the business.

“It’s hard to imagine how we could have achieved as much as we have without NetSuite, using another platform,” said Simon Talbot, Managing Director at P3 Medical. “We have meaningful data in a single source with NetSuite, rather than guesswork. We now work more efficiently while making more money.”

Before NetSuite, P3 Medical, founded in 2001, struggled with a collection of unintegrated on-site legacy applications, many of them introduced as a result of several acquisitions. The company suffered IT and business bottlenecks and poor visibility across the business, driving up administrative and operational costs with error-prone manual data entry and resulting in inventory stock-outs and production delays. Inflexibility in its previous environment made it difficult for P3 Medical to adapt to changing business conditions and efficiently manage its inherently complex business model, while remote access to core systems was problematic with VPN connections. Seeking an alternative, the company turned to NetSuite.

“There’s a lot of complexity built into our business, and one of the great things about NetSuite is how it simplifies our processes and delivers a single source of data under one roof that’s incredibly valuable,” Talbot said. “NetSuite’s flexibility has allowed us to model something that works for our business, rather than waiting for the perfect solution to come along.”

Other benefits that P3 Medical is realising with NetSuite include:

Greater profitability with deep costing visibility. Standard costing capabilities in NetSuite enable P3 Medical to track and optimise the full cost and profitability of every item, accounting for raw materials, labour, shipments and more. In turn, the company can more precisely price its goods, boosting profitability.

“Revenue per hour has increased significantly so we have better quality margins,” Talbot said. “Our pricing of jobs and products is now calibrated much more closely with true cost. That’s something we’d been chasing for 10 years.”

Streamlined manufacturing. P3 Medical takes advantage of demand planning and MRP (materials requirements planning) in the NetSuite Work Orders and Assemblies module to streamline production, scheduling and personnel, while NetSuite Advanced Inventory helps optimise stock levels of both raw materials and finished goods.

Stronger regulatory compliance. NetSuite’s single source of data has dramatically improved P3 Medical’s regulatory compliance programme with end-to-end documentation and visibility, while traceability helps ensure that a product’s whereabouts are known even after sale to an end-customer by a third-party distributor critical in the event of a recall.

Faster financial reporting and close. Reporting on mission-critical data is more than 20 percent faster with NetSuite, while the time needed for monthly financial close has been reduced to just two days, from two to three weeks with its previous systems.

Improved customer satisfaction. P3 Medical has seen significant improvement in customer satisfaction through its convenient self-service customer portal for online ordering powered by the NetSuite SuiteCommerce cloud commerce platform.

Better customer and account management with CRM. Visibility into customers and accounts with NetSuite CRM helps ensure that sales reps anticipate and meet customer needs, while P3 Medical can better manage its accounts to optimise sales.

Flexibility and scale for efficiency and growth. P3 Medical leverages NetSuite customisation capabilities to tailor the cloud solution to specific business processes, while gaining end-to-end flexibility and scale to accelerate growth into new markets.

About Oracle NetSuite Global Business Unit
Oracle NetSuite Global Business Unit (netsuite.com) pioneered the Cloud Computing revolution in 1998, establishing the world’s first company dedicated to delivering business applications over the internet. Today, Oracle NetSuite Global Business Unit provides a suite of cloud-based financials / Enterprise Resource Planning (ERP), HR and omnichannel commerce software that runs the business of companies in more than 100 countries.

About Oracle
The Oracle Cloud (oracle.com) delivers hundreds of SaaS applications and enterprise-class PaaS and IaaS services to customers in more than 195 countries and territories while processing 55 billion transactions a day.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Software Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: NetSuite, Inc.

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick NewswireToday Visibility Checker

 

Distribution / Indexing: [+]  / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
Software Warnings - IMPORTANT:
Always be aware/cautious about what you download on your computer/mobile! PURCHASE SOFTWARE related keywords / Banner Ads. Click HERE for details!
.

 
  Your Banner Ad showing on ALL
Software articles,
CATCH Visitors via Your Competitors Announcements!


UK Medical Device Manufacturer Transforms Business Performance and Profitability with NetSuite Cloud ERP

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name NewswireToday and LINK as the source.
 
Publisher Contact: Mei Li - NetSuite.com 
650-627-1063 meili[.]netsuite.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any NetSuite, Inc. securities in any jurisdiction including any other companies listed or named in this release.

Software via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY

Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From NetSuite, Inc. / Company Profile


Read Software Most Recent Related Newswires:

KPIT Acquires Cloud-based Vehicle Diagnostics Specialist SOMIT Solutions
CentralSquare Technologies Expands Property Tax Software Solution in Ontario, Canada
Blue Yonder Announces PartnerFirst, its New Partner Program, and New Partner Advisory Board Members
Openbravo Signs A Distribution Contract with Hardis Group to Accelerate Retailers’ Unified Commerce Strategies
CentralSquare Technologies Partners with First Due to Provide a Single Platform for Fire and EMS Services
Siemens Collaborates with GlobalFoundries to Provide Trusted Silicon Photonics Verification
Safran Rolls Out Software to Optimize Complex System Design
SAS and Cosmo Tech Innovations Build Resilient Global Supply Chains
KPIT to Create Opportunities in Cutting Edge Automotive Software in Kochi
Diebold Nixdorf Unifies Global HR Operations on Oracle Fusion Cloud HCM
Oracle Offers Service Agents a Unified View of the Customer with Oracle Fusion Cloud Unity CDP
OpenText Receives 2022 SAP® Pinnacle Award in the Partner Solution Success Category
Ribbon Partners with Kontron Transportation to Upgrade SNCF Voyageurs Optical Communications Network
Aptean Named a ‘Major Player’ in Two Separate IDC MarketScape Reports for Worldwide SaaS and Cloud-Enabled ERP Applications
AmplifyBio to Drive Quality Excellence with Veeva Vault Quality Suite

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  Limelon Advertising, Co.





 
  ©2022 NewswireToday — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com newswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are proudly NOT affiliated with USA TODAY (usatoday.com)