Best Pharmaceutical Industry Software in the Market

Table of Contents

What Is Pharmaceutical Software?

Pharmacy software is designed to handle all of the special manufacturing, distribution and accounting needs of a pharmaceutical Industry. Tight healthcare budgets and long product development Lifecycle makes it difficult for a pharmaceutical Business to maintain a competitive edge. More and more business are now using pharmacy management software to capitalize on opportunities while helping companies to focus on product development while remaining agile and to respond effectively to market dynamics.

Various Categories Of A Pharmacy Software

1) Pharmaceutical Manufacturing Software: Most of the pharmaceutical  Manufacturing software are equipped with batch processing software and Materials Requirement planning modules for managing all the drug manufacturing process which includes temperature mapping, extraction, fermentation, proportioning, milling, freezing-drying, hot- melt extrusion, cleaning, packaging etc.

2) Pharmacy dispensing software: The pharmacy dispensing software is equipped with procurement and distribution Management platforms that support supply chain visibility of materials by seamlessly networking with courier and client tracking systems. Some of the pharmacy dispensing software is also equipped with inventory control, order procurement, warehouse management, shipping management, and reverse logistics.

3) Pharmaceutical CRM software: Pharmaceutical CRM software is used to manage the relationship with clients, and manufacturing partners, along with handling marketing and lead acquisition. Sometimes the software is also integrated with work order management and accounting systems to centralize Financial Operation which includes sales expense tracking and Management.

4) Pharmacy Billing Software: It will provide you with extensive search features and will accept payments through multiple modes along with multi customers billing at the same time on a single PC. The Pharmacy Billing software will make sure that you send GST compliant Invoices, generate Financial Reports, do tax calculations and will help you file GST returns without any hassles.

Selecting The Best Pharmacy Software For Your Small Pharmacy

1) Batch Control and Traceability: Make sure that the Pharmacy software your purchase has the capability to track multiple levels of each lot of raw materials both backward and forward in the supply chain. It should also have a batch data control to map all associated traceability transactions, providing greater control and regulation over the shelf life and expiry dates, thus increasing transparency and efficiency across the business.

2) Quality Control and Compliance: Go with a software that supports both national as well as international Regulatory compliance, our solution provide a comprehensive and complete audit trail. It should also support FDA validation, Sarbanes-Oxley Compliance, fulfilling MHRA requirements along with demonstrating full transparency in the production and distribution of pharma products.

3) Strong Analytics and Reporting: Pharma industries produce tons and tons of data every day. Hence before finalizing a Pharmacy software make sure that the software you select has multi-dimensional Analytics. The ability to create accessible, accurate and timely results ensures that you have access to right information in the right format and in the right time thus giving you an instant access to insightful reports in your business areas.

Benefits Of Using Pharmacy Management Software

• A pharmacy software enhances quality, consistency, and speed to deliver drugs to the market.
• Helps you keep the cost in control by reducing wastage, optimum material utilization, and inventory management.
• Ensure compliance to meet the stringent regulations
• Reduces the chances of errors by delivering products of high quality at the right place and at the right time.
• Helps you introduce new products to the market fastly and easily.
• Real-time batch monitoring to make accurate business decisions.
• Keeps your formula a secret.
• Quick response to customer demands
• Smoothens the operation process flow and helps you increase profits
• End-to-End traceability, starting from raw materials to finished products.

Things To Consider When Investing In Pharmacy Software

Vendor vetting is one of the most important factors an organization should consider. So what are the factors that should be considered while looking for the right tech partner?

Pharma organizations should first identify what aspects of their operation can be automated and what will bring in the most return on investment. They should also know which vendor will offer the best solutions to their identified challenge.

The second thing is to create a checklist of essential criteria and certifications that potential vendors must have.  This will streamline the selection process and ensure that the organization only partners with established and comprehensive vendor

Pharmacy Software And The Automation

Because of the recent advancement in technology and software, pharmacy automation has become more accessible and more companies are investing in automation to improve their operations and services. Automation has almost eliminated the number one cause of error i.e. humans. But reducing the interaction between human and data, organizations have increased their validity and compliance

A lot of people are living with the misconception that the cloud is less secure and a barrier to automation. That's not the case every time, it all depends on the system. However, for best practice, cloud-based software needs to have appropriate security protocols and the right API’s to facilitate integration and automation.

As the pharma industry is becoming more comfortable with the idea of cloud-based software and adoption increases, organizations need to invest more time into making sure that their technology partners select the most secure solutions.

Pharma automation is at its peak. Therefore pharmaceutical organization needs to have a better understanding about its benefits and ensure they have strong automation strategy in place and guarantee that they partner with the best technology provider that can deliver business efficiency without compromising security.

Pharmacy Automation Provides High Quality In High Quantities

When you invest in a pharmaceutical Software to optimize your drug dispensing operations all your prescription processing will shift from your staff to a pharmacy fulfillment system

Pharmacy Automation will

• Maximize your operational Efficiency.
• Reduce the dispensing costs
• Optimize your drug inventory
• Frees up your resources to provide enhanced patient care.

Pharmacy Automation will improve accuracy and quality

• Enhance safety with RFID, barcode and imaging technology
• Improve supply chain management and reduce inventory costs.
• Connect with pharmacy management software and wholesale inventory systems.

Key Features Of The Best Pharmaceutical Software

• The pharmaceutical software automatically prepares state control documents such as pedigree report required by some of the states that will show you a full history of the item by Lot number.
• It will track all the authorizations and shipments by country for products sale and distribution.
• Scan item IDs and lot numbers- It will verify and make sure that the correct item is chosen, received and transferred
• Digital Dashboards for managers to keep a track of the business such as projected cash flow, ratio analysis sales, top ten customer lists, items, sales, profit summaries etc.
• Sophisticated product tracking and management functionality to meet industry regulations.
• A pharmaceutical software that allows you to generate licenses that are about to expire.
• Advanced classification facilities that enable you to restrict the type of controlled drugs that a customer can purchase.
• Transaction History about the route of a specific drug
• Short Dated Drug that will enable you to identify when a product will become short-dated and associate specific price to that product.
• Inventory Management controls to manage the pharmacy inventory and to minimize out-of-stock items.
• Pharmacy reporting engine to monitor financial and key performance indicators.

A Pharmaceutical Manufacturing Software Will Help You Keep A Track Of The Following Things:

• Landed cost as well actual cost of production
• Scrap as well as waste material
• A serial number for medical devices
• Lot history plus the expiration dates
• Ingredients and other raw materials
• Goods that are completed
• All the necessary documents for regulatory control
• Manufacturing Labor costs
• Shipping materials