Biotech Industry Challenges in Hong Kong: Barriers Beyond the Ordinary

Hong Kong, the city bustling with life and opportunities, is also a part of the world where one can find multifarious challenges in the biotechnological sector, which in turn creates the need for creative solutions. The city is a bright light at the end of the tunnel for biotech firms, yet it also represents hurdles not common in other sectors. The biotech corporations are being held back by stringent conditions needed for utility approvals which leads to their prolonged complex bureaucratic processes. Furthermore, the requirement for high R&D costs is a considerable part of the financial pressure as the process of innovation is the core feature of the whole industry. Also, the concern about the intellectual property rights that is applicable to the safety of the trade is especially important in the case of this sector, which is platform-acentric. But, such challenges are not specific only to biotech; similarly, other industries like labor shortage, and requirements for the adoption of new technology also cross-path with the challenges that biotech firms in Hong Kong deal with.

Turning POS Systems into Tools that Benefit the Whole Industry

Point-of-sale (POS) systems have been found to be a solution not only for biotech but for other areas of industry too. Resolving the problem of inaccurate recording associated with the need for detailed data is facilitated by point-of-sale systems. A multifunctional POS system is built to effectively run the financial section in real-time analyses and also allow planning of resource efficiency in staff modules. Such integrations in real-time finance provide better budget control for the operations of a small trader and a corporate giant at the same time. The POS systems also make it possible for efficient inventory management, which, in light of the sensitive and the high-value components, is a pivot for biopharmaceutical entities. The status is a further plus because the systems also allow the execution of advanced customer relationship management. These features of the system not only enable the business to keep up with the competition but also offer exclusive customer service, a verity valid in every sector including biotech.

Roadmap for Effectively Implementing a POS System

As far as the issuing of the point-of-sales system is concerned, this can result in a notable transformation of a firm. However, the successful launch of the system demands judicious logistics. To start with, the firms should run a needs assessment that covers as many sectors as possible in current business operations to catch these dives. Then, the answer to this step is to choose a system that provides the option of customization and integration which are basic to this individual business. Teaching the workers to use the new system and the permanent technical support that comes with it, makes the introduction of the technology to the firm easy and smooth. Technology is as good as people that use it, therefore the investment on the staff human resources training will return the most.

Multiable’s aiM18 POS System: Biotech-Focused Tailored Solutions

Multiable’s aiM18 POS system comes with a rich array of features that are absolutely suitable for the needs of Hong Kong biotech firms:

• Chain Store Management: Eases operational functions between numerous places, while still keeping them in sync and efficient.

• Real-time Integration: Provides instantaneous application of e-commerce alongside ERP and POS with a holistic operational outlook.

• Membership Management: Builds close relationships with customers that are the main feature of a successful audience retention and customer base growth.

• Encrypted Membership Database: Data protection is guaranteed, which is the number one issue for any tech-savvy enterprise.

• Automatic Logistics Service Selection: The optimization of the supply chain will be efficiently handled using this feature which is even more vital in the management of the sensitive biotech products.

aiM18 with E-commerce Giants: Integration and Performance

Multiable’s aiM18, the flagship product of the firm, scores in its compatibility with some of the most popular e-commerce platforms like Shopify, Amazon, and JD. Over and above the competitive retailing, which is synonymous with Hong Kong, the payment options matter too since the customer experience can only be enriched via the ability to pay with different gateways like WeChat Pay and Alipay. Such features improve the collaboration of the online and the brick-and-mortar stores and as a consequence, they also enhance customer satisfaction through easy and quick payment options.

What is Multiable POS ?

Multiable POS is a cloud-native POS targeting retail groups with sizable chain stores in Singapore, Malaysia, Hong Kong and China. With over 6,000 customers in the region, Multiable POS gains positive feedbacks from public companies and multinationals across different sectiros, from cosmetics, furniture, fashion, healthcare, pharmaceutics, sportswear and toys etc. The renowned no-code approach saves customer a big sum of customization costs and countless hours of implementation man-days.

What is LAIDFU (Let AI Do for You)?

LAIDFU is an AI tool for enterprise to build their own AI agents to perform various business AI tasks.

Proprietary EKP (Enterprise Knowledge Partitioning) technology eases CEO’s concern about trade secret leakage which often occurs in most AI agents / chatbots in the market.

EKP removes the hurdle of business AI adoption by most companies in using sensitive corporate data.

Powered by no-code approach, deployment of LAIDFU incurs far less developers (and development costs) in comparison with other AI tools.

LAIDFU empowers business, with or without an ERP system in place.