Delivering projects on budget has become a predominate performance metric in clinical trials. Arithmos explains the importance of an ERP system for cutting costs and more efficient project management.
Clinical projects today are complex in nature and often global, meaning there are virtual teams and project variance. An Enterprise Resourcing Planning (ERP) system is designed to manage business and project management aspects including standard project management tools, finance and resourcing. Arithmos outlines 5 ways an ERP system can cut costs and introduces you to ArithmosCentrum – a unique ERP system built with CROs in mind.
1. Unified System across company departments
Do you have one system to manage clients and bids and contracts (a CRM system)?
Do you have another system for project management and document sharing?
Another system for finance?
Even another system for scheduling workload and recording time sheet information?
Having all employees using one system allows for the sharing of information and data without having to create multiple system reports. Having a central hub to share documents is important for quality control and internal communications.
2. Reduce Administration Costs
Using a unified system can reduce administration costs by integrating operations and business. The administration has all data in one place, and it requires less departmental interaction to align the team.
3. Real Time Information and Reporting
With an ERP system, all team members can have access to real time information. Most ERP systems have reporting features and dashboards for personalized reporting metrics.
4. Save Time by Cutting budget proposal writing time.
The sales team needs a budget proposal with input from the Project Manager and Financial Officer within a short time frame. An ERP system allows you to pull all information into one standard document, and in some cases, an automatic document which is customized for your company.
5. Better plan for the future
An ERP system allows you to plan your workload ahead of time and know if there will be a need for additional resources. In terms of finance, the ERP system can track whether the company is staying on budget so the project team can plan ahead if the budget is going off course. The sales team can track bids and contracts to know whether they are meeting expected sales goals.
ArithmosCentrum is an ERP system specifically designed to meet the challenges of small to mid size companies like CROs. The ERP system was developed by Arithmos with the goal of providing a project management system that incorporates other office tasks and linking the project plan to proposal, budget and scheduling.
Using this system, CROs can produce budget proposals faster, efficiently manage project plans and stay on budget for all projects. They can also manage increased workload by forecasting the resources needed in the future.