Lack of Scalability
Moreover, traditional accounting software may not be scalable enough to handle the growing needs of healthcare businesses, especially if they expand to multiple locations or experience a significant increase in transactions.
Lack Of Security And Disaster Recovery
Healthcare businesses like yours have to be especially careful with the handling of confidential patient data, including their financial transaction records. While accounting software may have basic security measures in place, the vendors for such solutions usually don't have the resources to provide enhanced security features, or disaster recovery services in the worst case scenarios.
What Do Cloud ERP Software Offer That Accounting Software Doesn't?
On the other hand, a cloud ERP software like Oracle - NetSuite ERP provides a comprehensive solution that addresses these challenges, and offers a wide range of features specifically tailored to the healthcare industry.
It provides robust financial and accounting capabilities and integrated budgeting and forecasting, can be easily scaled to any size of medical practice from private clinics to medical groups, and comes with strong data security and disaster recovery features to ensure the safety of your confidential patient data.
It can also be easily integrated with other software solutions your healthcare business is using. For example, here's a quote from Singapore O&G, one of our clients in the healthcare industry;
"AFON integrated Oracle NetSuite with our existing clinical management system, giving us real-time access to critical financial data.
Oracle NetSuite also automated our financial management, greatly improving the productivity of our organisation."
Doreen Chew, Chief Financial Officer of Singapore O&G
Recognised as a Leader in the 2022 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises, NetSuite comes with powerful capabilities that can handle all of the above industry challenges that healthcare businesses face, and more.
Enable Future Growth For Your Healthcare Business; Upgrade From Your Accounting Software To A Cloud ERP Software Today
Introducing NetSuite; Source: NetSuite
A true cloud ERP software like Oracle NetSuite is the ideal choice for such an upgrade. The cloud-based nature of NetSuite means it can easily be scaled to provide as much financial management capacity as your healthcare business needs, even if it's a medical group with clinics all across Singapore.
Interested in learning how else a true cloud ERP software can support your healthcare business better than a mere accounting software? Click on the image below to download our resource, and find out why businesses are moving away from basic accounting software like QuickBooks to cloud ERP software like Oracle NetSuite.