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Legacy software systems no longer make sense for life sciences businesses, especially those in Pharmaceutical manufacturing. Today, life sciences firms need the power and features of industry-standard enterprise resource planning software such as SAP Business ByDesign. Data is siloed, hard to update, and time-consuming to store or use.
Medical device manufacturers face similar challenges, whether engaged with Medical Device Production , BioPharma & Nutraceuticals , Contract Development & Manufacturing , or Biotechnology. They also often face complex supply chains and demanding, multi-country compliance and reporting.
Throughout 2024, SAP actively continued integrating artificial intelligence (AI) across its entire product suite to enhance business processes and user experiences, which has set the stage for driving tangible impacts for businesses in 2025. This integration provides a more user-friendly way for individuals to engage with SAP solutions.
In this blog post, we are taking a closer look at two important initiatives from SAP with a focus on what they are and how they can help companies optimize their ERP systems and accelerate their business growth. RISE with SAP and SAP GROW are two distinct offerings that serve different purposes as outlined below.
A cloud-based ERP solution for the pharmaceutical industry not only enables the consolidation and integration of manufacturing processes across multiple departments, but also helps to track and trace sensitive operations across organizations to meet the needs of regulation compliance, expiry management, quality control, and formulation costing.
With COP29 coming up November 11-22, 2024 in Baku, Azerbaijan, this is a good opportunity to review progress toward climate goals and to update new developments in SAP's ongoing focus on delivering end-to-end carbon management and ESG reporting solutions. The world will be watching, and expecting governments to stand and deliver at COP29."
. “We’ve had a 40% reduction in carbon dioxide, an 80% reduction in nitrogen oxide, and a near 100% reduction in particulates,” she shared during the CFO Club podcast, emphasizing the tangible impact of GDC’s clean energy initiatives on Cameroon’s manufacturing sector. Our last two wells cost over $100 million,” she noted.
Movement on the part of global accounting groups, such as FASB, IASB and IFRS, to develop detailed compliance guidelines and regulations around carbon-accounting and sustainability. New legislation regarding carbon offsets and disclosure reporting that will materially impact many companies' bottom line.
When a pen is manufactured incorrectly or suffers from shoddy inputs, a consumer just pulls out a different pen. The life sciences are not like pens or bras. When a life sciences product deviates from specs, be it a pharmaceutical or medical device, public health is affected and the defect might not even be readily observable.
There are many benefits of cloud ERP systems such as SAP ByDesign, as they are designed with easy-to-use dashboards akin to those consumers use online in their everyday lives. Manufacturing ERP is designed to optimize efficiency in quality and compliance.
Virtually all segments of the electronics industry have implemented or are considering subscription-based offerings, including OEM makers of devices and systems, as well as the parts manufacturers and distributors within the electronics industry supply chain. For example, customers may choose from different subscription tiers, discounts, etc.
In addition, geopolitical concerns about semiconductor IP and manufacturing are also significantly influencing decisions on where semiconductor foundries and assembly facilities should be located and whether advanced chip designs should be banned from export to certain countries. increase to $633 billion in 2024.
This new Insights Post explores how the SAP ecosystem can help life sciences companies align initiatives in both of these areas with digital transformation initiatives that embrace new subscription-based revenue opportunities and simultaneously map out an optimized roadmap for moving to more efficient cloud-based ERP and overall business systems.
Mining and manufacturing These industries must report on their environmental impact, worker safety, and financial results. Knowing the specific rules for your industry helps you prepare in advance and avoid compliance issues. Keep track of reporting deadlines Use a compliance calendar so you never miss a submission.
It is not uncommon for manufacturers to engage a complex network of global suppliers to cut costs, but this practice poses several risks including delays, inconsistent quality, and compliance issues. Efficiently managing supply chains became more challenging recently due to Covid-19 disruptions and geopolitical conflicts.
Global ESG Regulatory Requirements One of the major ESG compliance developments to watch is the US Securities and Exchange Commission (SEC) proposed regulation on Climate-Related Disclosures and ESG Investing. At Sapphire 2023, SAP also introduced a new component called the Sustainability Data Exchange within the SAP Business Network.
The rise of pure-play foundries serving the chip manufacturing needs of multiple companies has enabled new fabless entrants to specialize in chip design while outsourcing the capital intensive production processes. Geo-political concerns over where semiconductor manufacturing is located. Intellectual property protection concerns.
The report also sees a "trend of data fabric initiatives across all industries — including financial services, retail, healthcare, manufacturing, oil and gas, and energy — as organizations continue executing their digital transformation initiatives.". Discover and connect to data in multiple locations and in a variety of ways.
The life sciences is a heavily regulated industry for obvious reasons: the drugs and devices a life sciences firm manufactures or distributes must be consistently safe and reliable for consumers. To ensure that happens, the FDA regulates life science firms according to regulations specified in 21CFR.
According to Med Device Online , "Many manufacturers are implementing innovative pricing models to lower buyer-side pressure. Market dynamics and uncertainties are making revenues less predicable for MedTech manufacturers, thereby impairing forecasting and planning processes. How DSE Applies to the Medical Device Sector.
For example, according to Med Device Online , "Many manufacturers are implementing innovative pricing models to lower buyer-side pressure. As key elements of the overall SAP ecosystem, all these solutions provide integration capabilities of varying degrees with current SAP ECC and forward-looking SAP S/4HANA environments.
This important issue was previously explored last year in Are You Ready for "Carbon Accounting" Compliance? In light of this accelerating development of Carbon Accounting compliance and reporting standards, what should companies be doing now? and also identified as one the Five Key Trends to Watch in 2022.
Since our decision a decade ago to focus on becoming the leading partner for delivering SAP revenue recognition solutions , Bramasol has established a reputation as the most trusted RevRec specialist across many industry segments. What Does Co-Specialization in RevRec and QTC Entail?
In previous blog posts, we have addressed the challenges and opportunities regarding digital transformation and the Digital Solutions Economy (DSE) across a range of industries including, software & SaaS , semiconductors , media & entertainment , medical devices , transportation , electronics manufacturing , energy , and utilities.
In addition, geopolitical concerns about semiconductor IP and manufacturing are also significantly influencing decisions on where semiconductor foundries and assembly facilities should be located and whether advanced chip designs should be banned from export to certain countries. increase to $633 billion in 2024.
Since our decision a decade ago to focus on becoming the leading partner for delivering SAP revenue recognition solutions , Bramasol has established a reputation as the most trusted RevRec specialist across many industry segments. What Does Co-Specialization in RevRec and QTC Entail?
This is exemplified by SAP's leadership in the movement toward cloud deployments. There is also an important shift toward cloud deployments. Gartner data predicts a growth rate of 11.3% in software spending in 2023 vs only 3.4% growth in data center systems. Creating New Revenue Streams.
From Bramasol's perspective as a leading SAP partner creating business management, finance, and compliance solutions for over 25 years, here are five major areas that we are watching closely and helping our clients prepare to deal with in the coming year - and beyond.
Dive into a comprehensive BRIM Overview and discover how to maximize SAP BRIM's potential across payment systems. Gain insights into how SAP Event Based Revenue Recognition can enhance revenue management and ensure compliance for subscription-based offerings, enabling businesses to streamline and optimize their processes.
The lawsuit was brought by two former minority shareholders in Hermes India, the Indian high fashion manufacturer. While Wirecard touted deals with SAP SE, Zurich Insurance Group and SoftBank Group Corp., Judges dismissed a civil suit that alleged Wirecard of fraud weeks after the company filed for insolvency in a Munich court.
At SAP, my role is to guide finance leaders on their digital transformation journeys, and one of the key components nowadays is to manage inflation. Improving supply chain visibility can help strengthen the supply chain, increase the return on investment, and optimise all manufacturing and logistics activities.
and China, could sap economic activity as well as domestic hiring and trigger a recession. Surveys and other economic data have hinted that weakness in manufacturing might be spreading into other parts of the economy in the U.S. like the services sector. WhatsApp Pay India Debut May Face Delay. WhatsApp Pay India Debut May Face Delay.
Add to the equation the growing burdens of regulatory compliance stretching across anti-money laundering and know your customer efforts … and record-keeping can become daunting even with the best of efforts. One customer is on SAP, for example, and perhaps another firm is operating with QuickBooks.
Eliminate manual tasks, overcome information silos, and ensure compliance while creating these statements, even as the company scales. Planful integrates with more than 100 source systems, both on-premises and cloud-based, including Acumatica, Sage, Microsoft Dynamics, and SAP, to name a few. Case in point: Barclays PLC was fined $34.8
Instead of manufacturing products to achieve one-off sales events, in this broader XaaS perspective, companies are shifting their emphasis to encompass the end-to-end process of manufacturing, longevity of use, maintenance, service, and disposal/recycling. Webinar video: Power Transition to DSE with SAP Cash and Treasury Management.
This can be seen clearly in the increased adoption of SAP Cloud-based S/4HANA over recent years. As of the third quarter of 2023, SAP SE reported cloud revenue was up by 23% at constant currencies, driven mainly by the growth of SAP's combined SaaS and PaaS portfolio. SAP operates 57 data centers at 32 locations in 15 countries.
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These companies face complex challenges in compliance, security, and management of their supply chains and partnerships with contract development and manufacturing organizations (CDMOs). Before the pandemic, the life sciences sector was lumbering, slow-moving, and bureaucratic.
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