The Enterprise Information Portal: Gateway to Market Strength An e-business innovation gives medtech companies a time-to-market edge. Feeling the relentless pressure to bring new products to market before the competition, medical technology companies are always looking for an edge. The reason is simple economics: being first with a product that has the potential to yield significant margins—such as a drug-coated stent or next-generation pacemaker—can translate into millions of dollars in earnings per month. Some organizations already enjoy an edge in time-to-market that comes from a new technology called the enterprise information portal (EIP). An EIP is a single Web-based interface combining numerous applications that is designed to improve internal and external project collaboration. Medtech companies traditionally have focused more on revenue growth than on cost reduction or maintenance of market share. Today's marketplace won't stand still for such an imbalance of emphasis, however. The innovative EIP concept is important because the portals facilitate the simultaneous achievement of all three goals by—among other benefits—increasing productivity so that medtech organizations can more quickly implement studies, complete clinical trials, and obtain engineering results. One way that EIPs bring about all of these benefits is by optimizing the e-procurement function. Firms that take advantage of this new e-procurement strategy improve their chances of being market winners. Those that don't, risk being losers. This article spotlights the business advantages of EIPs, showing how they function, how they optimize e-procurement, and why that is critical. It concludes by discussing how medtech companies are gaining a competitive edge through EIPs. Medical technology organizations are using EIPs to augment their traditional goal of increasing revenue by also reducing costs and maintaining market share. These “big three” business benefits serve to enhance competitive advantage and provide for an accelerated return on investment. EIPs help medtech companies reduce the cost of
Products & Services
Supplier Relationship Management Software (SRM)
Supplier relationship management (SRM) software enables businesses to manage the relationship between buyers and suppliers. SRM software can be integrated into an enterprise resource planning (ERP) system.
Engineering Consulting Services
Engineering consulting firms provide engineering services and expertise to companies in need of a specialized skill-set. Professionals in this category work with clients to define solutions to problems or to help determine and recommend the best course of action for a given initiative.
Enterprise Resource Planning Software (ERP)
Enterprise resource planning (ERP) software supports the entire business process. Typically, ERP consists of modules such as marketing and sales, field service, production, inventory control, procurement, distribution, human resources (HR), etc.
Specialty Business Services
Specialty business services are consultants, firms, and companies that provide specialty or proprietary business services.
Business Consulting Services
Business consulting services include high-level business endeavors such as strategic planning, market positioning consulting, business plan development, enterprise architecture, and information infrastructure planning and development.
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