The need to have a solution that grows as their company does was vital for EndoChoice, which factors in a lot of business growth through acquisitions. In addition to this, the medical provider recently opened a West Coast facility for distribution and manufacturing in Reno, Nev. And earlier this year, EndoChoice expanded its headquarters in suburban Atlanta by 70 percent—the third time in two years that the company had increased its square footage to keep up with its growth.
“We are going to continue to make sure that our platform has the extensions and the abilities for our customers to customize our solution even further,” confirmed Bukary. “We want to make sure that when Lou Malice reaches $10 billion in revenue, we are right there with him, serving him and making sure that we have the functionality, the platform, the scalability and the ecosystem of partners that he needs.”
To better manage their multiple entities and subsidiaries, EndoChoice most recently implemented NetSuite OneWorld, which helps them accelerate financial consolidation and visibility within. It also seamlessly handles different currencies, taxation rules and reporting requirements.
“We have several other initiatives under way as well,” continued Malice. “We are enhancing our vision into the sales pipeline by enforcing some scripting changes and some customization of the system that will allow us to see how we are forecasting customer’s future recurring business. A lot of what we do is not a one-time sale—it’s ongoing. Those added features will allow us better visibility into forecasting that pipeline.”
The company also implemented a new module—Demand Planning—which features several methods of looking back at past trends to project where demand is headed in the future. “Once that demand is ironed out, it will create a purchasing plan for us that allows us to go back to the sub-component level and project what we need to buy,” Malice added.
Embrace a new approach and overcome healthcare obstacles
Hospitals, urgent care centers and other healthcare providers must all embrace the digitization of processes to uncover potential profit opportunities, decrease spend and create a seamless data system that is accessible by healthcare professionals. And even medical manufacturers can benefit from the use of such technologies to focus more on product development.
“One of the things inside healthcare that is always a problem is outcome data,” said Malice. “When you get down to the clinical level, there is a lot of information that is being held right now on a local server. It’s a situation where too many things are disseminated down to a small database that is not accessible. Someday, it will all come together and we will have a much better understanding of what works and what doesn’t work within medicine. And once that data can go into a system that can be accumulated over the whole country, it’s going to be a different world.”
Note: Reference in the story above, Great Plains is known today as Microsoft Dynamics GP