Running a business in the current day and age we live in is easier than ever. We now have access to a wide range of tools and resources that make keeping track of the operational side of things very seamless and easy to do. However, in order to harness the power of that, you need to know which software packages will benefit your business. If you are in the healthcare industry, you may need an ERP solution that is tailored directly to the kind of work you do on a daily basis. This is where working with Unit4 comes in.
Unit4 has a healthcare industry specific ERP solution that will help you to streamline your business, boost efficiency, and help to grow the company to where you want it to be. However, you need to make sure that this is the right solution for you. So in this blog post, we are conducting a very honest and in-depth review of the software package to help you make your decision.
Integrating Your Finance and HR for Healthcare with Unit4
An ERP solution is a great software package that helps you to streamline the various operational sides of the business that you work on daily. Where the Unit 4’s ERP solution for healthcare, you are able to integrate the financial and human resource side of your company into one single connected platform. Here, you can combine finance, HR, and payroll to help your organization stay on track with your budgets, manage your workforce and staffing, and make sure that you’re compliant throughout. Overall, this really helps you to plan your resources well, reduce the amount of work that goes into the admin side of things, and free up valuable time to dedicate to your patients.
The Pros
First of all, it’s important for us to take a look at some of the positive points of working with Unit4’s ERP solution. If you’re looking for a robust ERP software package, it’s important to understand exactly what Unit4 offers to see if this is the right route for you. Let’s take a look.
1. Agile Financial Planning & Analytics
First of all, one of the most predominant benefits of working with Unit 4’s ERP solution is the agile financial planning and analytics capabilities. Here, healthcare providers are able to use one integrated financial planning approach to help them plan scenarios and make proactive adjustments. All of this is done using real-time data. So if you really want to make sure that you’re able to allocate resources more efficiently and project financial stability in your rapidly changing environment, using this ERP solution will support you in doing that.
2. AI Power for Better Visibility
Another huge benefit is that the ERP solution is that it’s AI-powered. This means that you not only get incredible insights, but you can also benefit from automations, too. Using AI and machine learning, the ERP solution has predictive analytics as well as the ability to automate workflows. You’ll also find that you’re able to leverage the anomaly detection functionality, too. Overall, this all allows for smarter decision-making within the company and supports you in streamlining your operations for greater efficiency.
3. Advanced Procurement & Supply Chain Management
Another huge part of the healthcare business is making sure that your procurement and supply chain management is as efficient as it can be. Using the Unit4 ERP solution enables end-to-end source-to-pay automation, taking the manual element out of it for your company. Not only that, but you also get access to supplier analytics and contract management. This supports your company in both cost control and resilience throughout your supply chain.
4. A Flexible SaaS Platform
Finally, it’s really important to recognise that Unit 4’s ERP software is a cloud native, flexible SaaS platform. It has been built on a very modern and secure cloud architecture. This means it’ll be able to scale as you do. Not only does the platform adapt as you evolve throughout the course of your business, but you can also integrate different third-party systems that you use day-to-day in your business.
The Cons
However, at the same time, it’s really important to understand that there will always be possible downsides that come with any product you choose to use. Unit4’s ERP solution is certainly a standout software program for the healthcare industry; it’s also important to highlight something in particular.
1. Niche Specific
If you are not in the healthcare sector, this particular ERP program may not be the right option for you. While Unit4 is certainly an expert at what it does, it tends to cover certain niches only. These lie within the professional services, public sector, and non-profit realms. So, if your company doesn’t fall under any one of those umbrellas, you may find that you need to look elsewhere for your chosen ERP solution.
The Review: Is Unit 4 Worth the Investment?
As a healthcare provider or business, it’s always going to be important for you to approach your operations from a place of organization and efficiency. In order for you to be able to provide the best level of care you can for your patients and clients, you need to make sure that the back end of the business is running smoothly. The last thing you want is to be running out of products or find that you’re short-staffed. At the same time, you also need to make sure that the company is as profitable as possible. This is where the power of the right ERP solution comes in.
When you choose the Unit 4 ERP solution, you find that you’re able to benefit from better financial planning and visibility into the various analytics that you need to use to make decisions on a daily basis. You’ll also find that your procurement process is tightened up, and you have the flexibility of working with a software program that grows with you. If you’re in the healthcare niche, you’ll find that the Unit 4 ERP solution is exactly what you need.