Oracle NetSuite issued the following announcement on Sept. 18.
SuiteConnect -- Precision Medical Products, a leader in deep-vein thrombosis (DVT) prevention and supplier of durable medical equipment that assists over 140,000 patients per year with post-surgery recovery, is using Oracle NetSuite to streamline core business operations and create a platform for sustainable growth. With NetSuite, Precision Medical Products (PMP) has been able to increase efficiencies and enhance the customer experience as its business has grown 70 percent over the last three years.
Founded in 2010, PMP is focused on helping patients recover from surgery and prevent DVT, a blood clot that forms in a vein. Although DVT is the most preventable cause of death in surgical facilities, it affects as many as 900,000 Americans each year and leads to nearly 100,000 premature deaths according to the Centers for Disease Control and Prevention. To help save lives and cost-effectively provide FDA-quality products and services to its customers within two days, PMP needed a unified business platform that could automate processes and scale to support its future growth. After careful evaluation, PMP selected NetSuite over Xero and Zoho.
"More Americans die from DVT than breast cancer, AIDS and traffic fatalities combined, and it's our mission to help patients recover as quickly and pain-free as possible," said Bruce Capagli, COO, Precision Medical Products. "In a single platform, NetSuite gives us the visibility and control we need to reduce operational costs, maintain our customer promises and enhance decision making. NetSuite is helping take our business to the next level as we expand to help our customers achieve positive outcomes post-surgery and aim to assist 5 million customers."
With NetSuite, PMP has been able to take advantage of an integrated platform to automate and centralize key business functions including financials, CRM, order management and inventory management systems across its five brands. Fully rolled out in less that 60 days, NetSuite has enabled PMP to reduce shipping costs and meet customer expectations for rapid delivery by routing orders to whichever warehouse offers the best shipping costs based on zip code. In addition, NetSuite has enabled PMP to more than double the average order value without increasing operational costs by launching a new online store in just 23 days that eliminates manual data entry with online orders.
"Precision Medical Products is doing amazing work to help patients quickly recover and its business has grown rapidly over the last three years," said Jason Maynard, SVP of Global Field Operations, Oracle NetSuite. "To support its growth and manage operational costs as order volume continued to climb, PMP selected NetSuite to create a platform for sustainable growth. With NetSuite, the PMP team can cost-effectively grow their business while continuing to focus on what they do best – protecting patients on their road to recovery."
About Precision Medical Products
Precision Medical Products is a self-funded startup and was formed in 2010 by a few people in a garage. Within 9 years, PMP grew to over $25 Million in annual sales with a team of 140+ people in 36 states. In 2015, Precision Medical was recognized as the #1 fastest growing company in Sacramento. We did this by putting patients first, offering home deliveries, and being known as the experts in our products.
About Oracle NetSuite
For more than 20 years, Oracle NetSuite has helped organizations grow, scale and adapt to change. NetSuite provides a suite of cloud-based applications, which includes financials / Enterprise Resource Planning (ERP), HR, professional services automation and omnichannel commerce, used by more than 18,000 customers in 203 countries and dependent territories.
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