Accessibility Statement Skip Navigation
  • Resources
  • Blog
  • Journalists
  • +44 (0)20 7454 5110
  • Client Login
  • Send a Release
Return to PR Newswire homepage
  • News
  • Products
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All Public Company News
      • All Multimedia News
      • View All News Releases

      • Regulatory News

      • D/A/CH Regulatory News
      • UK Regulatory News
      • View All Regulatory News

  • Business & Money
      • Auto & Transportation

      • Aerospace & Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads & Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking & Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers & Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalisation
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls & Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil & Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defence
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation & Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking & Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers & Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines & Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics & Personal Care
      • Fashion
      • Food & Beverages
      • Furniture & Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewellery
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film & Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks & Tourist Attractions
      • Gambling & Casinos
      • Hotels & Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Animal Welfare
      • Corporate Social Responsibility
      • Economic News, Trends & Analysis
      • Education
      • Environmental
      • European Government
      • Labour & Union
      • Natural Disasters
      • Not For Profit
      • Public Safety
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • SocialBoost
  • Rooms
    • MediaRoom
    • ESG Rooms
  • AI Tools
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Hamburger menu
  • Cision PR Newswire UK provides press release distribution, targeting, monitoring, and marketing services
  • Send a Release
    • Phone

    • +44 (0)20 7454 5110 from 8 AM - 5:30 PM GMT

    • ALL CONTACT INFO
    • Contact Us

      +44 (0)20 7454 5110
      from 8 AM - 5:30 PM GMT

  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • News in Focus
    • Browse News Releases
    • Regulatory News
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
    • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • Overview
  • Distribution
  • Paid Placement
  • Multichannel Amplification
  • Disclosure Services
  • Cision Communications Cloud®
  • AI Tools
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists
  • General Enquiries
  • Media Enquiries
  • Partnerships
  • Client Login
  • Send a Release
  • Resources
  • Blog
  • Journalists

UK Medical Device Manufacturer Transforms Business Performance And Profitability With NetSuite Cloud ERP

This image opens in the lightbox

News provided by

Oracle NetSuite Global Business Unit

19 May, 2017, 08:00 GMT

Share this article

Share toX

Share this article

Share toX

NetSuite Enables P3 Medical to Boost Margins, Efficiency and Customer Satisfaction

LONDON, May 19, 2017 /PRNewswire/ -- Oracle NetSuite Global Business Unit, one of the world's leading providers of cloud-based financials / ERP, HR, Professional Services Automation (PSA) and omnichannel commerce software suites, today announced that P3 Medical Ltd., a manufacturer and distributor of medical devices, has transformed business performance and increased profitability as a result of replacing multiple legacy applications and spreadsheets with NetSuite in 2010. P3 Medical, doing business in more than 50 countries, is now saving £100,000 a year in improved manufacturing efficiency and another £25,000 a year in administration costs with NetSuite, while avoiding a £75,000 capital investment for an equivalent in-house infrastructure. Headquartered in Bristol, UK, with a second facility in Preston, P3 Medical makes extensive use of NetSuite capabilities for manufacturers to streamline production and inventory management, while enhancing margins and pricing with detailed real-time visibility into all costs to produce a given product with NetSuite's robust standard costing feature.

Watch the P3 Medical Customer Story

Across the business, the 80-person company has further optimised efficiency by using NetSuite as a single, integrated system for financials, order management, regulatory compliance, CRM and ecommerce, offering its hospital, clinic, distributor and subcontractor customers a convenient online channel to order many of its 4,000 products. P3 Medical also takes advantage of NetSuite's multi-currency capabilities for product sales in the U.S. dollar, Danish krone, Swedish franc, Euro and British pound, while gaining a competitive advantage against larger competitors and sharpening its differentiating focus on low-volume, niche products used in the operating room and specialised surgical procedures, rather than high-volume commodity medical supplies. NetSuite's customisation capabilities have enabled P3 Medical to tune the solution to its unique needs, driving additional efficiencies across the business.

"It's hard to imagine how we could have achieved as much as we have without NetSuite, using another platform," said Simon Talbot, Managing Director at P3 Medical. "We have meaningful data in a single source with NetSuite, rather than guesswork. We now work more efficiently while making more money."

Before NetSuite, P3 Medical, founded in 2001, struggled with a collection of unintegrated on-site legacy applications, many of them introduced as a result of several acquisitions. The company suffered IT and business bottlenecks and poor visibility across the business, driving up administrative and operational costs with error-prone manual data entry and resulting in inventory stock-outs and production delays. Inflexibility in its previous environment made it difficult for P3 Medical to adapt to changing business conditions and efficiently manage its inherently complex business model, while remote access to core systems was problematic with VPN connections. Seeking an alternative, the company turned to NetSuite.

"There's a lot of complexity built into our business, and one of the great things about NetSuite is how it simplifies our processes and delivers a single source of data under one roof—that's incredibly valuable," Talbot said. "NetSuite's flexibility has allowed us to model something that works for our business, rather than waiting for the perfect solution to come along."

Other benefits that P3 Medical is realising with NetSuite include:

Greater profitability with deep costing visibility. Standard costing capabilities in NetSuite enable P3 Medical to track and optimise the full cost and profitability of every item, accounting for raw materials, labour, shipments and more. In turn, the company can more precisely price its goods, boosting profitability.

"Revenue per hour has increased significantly so we have better quality margins," Talbot said. "Our pricing of jobs and products is now calibrated much more closely with true cost. That's something we'd been chasing for 10 years."

Streamlined manufacturing. P3 Medical takes advantage of demand planning and MRP (materials requirements planning) in the NetSuite Work Orders and Assemblies module to streamline production, scheduling and personnel, while NetSuite Advanced Inventory helps optimise stock levels of both raw materials and finished goods.

Stronger regulatory compliance. NetSuite's single source of data has dramatically improved P3 Medical's regulatory compliance program with end-to-end documentation and visibility, while traceability helps ensure that a product's whereabouts are known even after sale to an end-customer by a third-party distributor—critical in the event of a recall.

Faster financial reporting and close. Reporting on mission-critical data is more than 20 percent faster with NetSuite, while the time needed for monthly financial close has been reduced to just two days, from two to three weeks with its previous systems.

Improved customer satisfaction. P3 Medical has seen significant improvement in customer satisfaction through its convenient self-service customer portal for online ordering powered by the NetSuite SuiteCommerce cloud commerce platform.

Better customer and account management with CRM. Visibility into customers and accounts with NetSuite CRM helps ensure that sales reps anticipate and meet customer needs, while P3 Medical can better manage its accounts to optimise sales.

Flexibility and scale for efficiency and growth. P3 Medical leverages NetSuite customization capabilities to tailor the cloud solution to specific business processes, while gaining end-to-end flexibility and scale to accelerate growth into new markets.

About Oracle NetSuite Global Business Unit
Oracle NetSuite Global Business Unit pioneered the Cloud Computing revolution in 1998, establishing the world's first company dedicated to delivering business applications over the internet. Today, Oracle NetSuite Global Business Unit provides a suite of cloud-based financials / Enterprise Resource Planning (ERP), HR and omnichannel commerce software that runs the business of companies in more than 100 countries. For more information, please visit http://www.netsuite.com.

Follow Oracle NetSuite Global Business Unit's Cloud blog, Facebook page and @NetSuiteEMEA Twitter handle for real-time updates.

About Oracle

The Oracle Cloud delivers hundreds of SaaS applications and enterprise-class PaaS and IaaS services to customers in more than 195 countries and territories while processing 55 billion transactions a day. For more information about Oracle (NYSE:ORCL), please visit us at oracle.com.

Trademarks
Oracle and Java are registered trademarks of Oracle and/or its affiliates. Other names may be trademarks of their respective owners.

Logo - https://mma.prnewswire.com/media/479122/Oracle_NetSuite_Logo.jpg

Related Links

http://www.netsuite.com

Modal title

Contact PR Newswire

  • +44 (0)20 7454 5110
    from 8 AM - 5:30 PM GMT
  • General Enquiries
  • Media Enquiries
  • Partnerships

Products

  • Content Distribution
  • Multimedia Services
  • Disclosure Services
  • Cision Communications Cloud®

About

  • About PR Newswire
  • About Cision
  • Partnering Opportunities
  • Careers
  • Accessibility Statement
  • APAC
  • APAC - Simplified Chinese
  • APAC - Traditional Chinese
  • Brazil
  • Canada
  • Czech
  • Denmark
  • Finland
  • France
  • Germany
  • India
  • Indonesia
  • Israel
  • Japan
  • Korea
  • Mexico
  • Middle East
  • Middle East - Arabic
  • Netherlands
  • Norway
  • Poland
  • Portugal
  • Russia
  • Slovakia
  • Spain
  • Sweden
  • United States
  • Vietnam

My Services

  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
  • Data Privacy

Do not sell or share my personal information:

  • Submit via Privacy@cision.com 
  • Call Privacy toll-free: 877-297-8921

Contact PR Newswire

Products

About

My Services
  • All News Releases
  • Customer Portal
  • Resources
  • Blog
  • Journalists
+44 (0)20 7454 5110
from 8 AM - 5:30 PM GMT
  • Terms of Use
  • Privacy Policy
  • Information Security Policy
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 PR Newswire Europe Limited. All Rights Reserved. A Cision company.