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Thrive Technologies

Score8 out of 10

15 Reviews and Ratings

What is Thrive Technologies?

Thrive is an inventory management software offering from Thrive Technologies. It is built to help distribution and retail companies needing to improve demand forecasting, and it helps inventory replenishment functionality in ERP systems.

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Top Performing Features

  • Inventory tracking

    The software syncs orders and stock to maintain a real-time picture of inventory and supports multiple methods such as LIFO and FIFO.

    Category average: 8.1

  • Backorder management

    Backorders are prioritized and fulfilled as new stock arrives.

    Category average: 7.9

  • Accounting integration

    The software integrates with accounting software for more comprehensive bookkeeping.

    Category average: 7.7

Areas for Improvement

  • Invoicing

    Invoices for orders can be created and sent, and invoices from suppliers can be managed.

    Category average: 6.9

  • Forecasting

    The software predicts future inventory and order trends, and may offer reordering and production suggestions based on these predictions.

    Category average: 7.2

  • Point of sale integration

    The software integrates with a point of sale system for payment processing.

    Category average: 7.5

Who Buys & Uses Thrive Technologies

Most Frequent Users

Top 2 industries using Thrive Technologies.

Based on HG Insights installation data
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Thrive Technologies... Ever changing from [...] to [...] to [...] to [...] now [...]

Use Cases and Deployment Scope

We use their EHR in our hospital and clinics. It is utilized throughout all of our hospital patient services.

Pros

  • One of the most cost effective whole hospital & clinics services
  • Web based and continued development in areas of patient care.
  • Clinic module was recent added. It does have some limitations, but hope over time these will be addressed.
  • We host it locally at our hospital, helps with security issues.
  • Scheduling and patient engagement is a great benefit to help communicate with patients.

Cons

  • The clinic module needs to have a way for providers to electronically sign referrals. Right now we are using Updox for this workaround right now.
  • Prescribing medications does require additional steps. Would be great to consolidate some of the steps.

Return on Investment

  • Our hospital started with [...], which became [...], which was bought by [...], then [...], and now [...], which has been acquired by a company from India. Even with all these transitions, we have been able to keep the overall costs of services down in comparison to other systems we had looked at along the way.
  • As we transitioned from one "owner" to the next, we were able to at least show that we had paid for the software at one time and helped save us additional costs as a result.
  • Negative impact was in our clinic, which it does require additional clicks (versus Amazing Charts), but on the other hand it is much more secure, so that is a trade off.
  • The overall cost of ownership is about 60% lower than when we looked at EPIC, so for our size it made financial sense to continue to work with [...] to help improve its efficiencies.

Usability

Alternatives Considered

Epic, Cerner Millennium and Meditech Electronic Health Records

Other Software Used

i2i PopIQ, Updox, WebPT

Thrive: when you're ready to take a big step!

Pros

  • Cloud-based, accurate forecasting system saves lots of time and can tangibly boosts ROI
  • Robust demand management down to the SKU level
  • Optimized replenishment prevents too much money from being tied up in inventory

Cons

  • Although it's simpler than many alternatives, it's a highly complex system and at times we felt lost during the transition period.
  • We didn't get the results we had imagined when looking at their case studies and marketing materials. I understand many factors go into those things, and their case studies are not necessarily indicative of typical results, but your mileage may vary.
  • Inventory replenishment alerts about potential stockouts weren't always reliable.

Return on Investment

  • We were able to reduce the amount of resources tied up in inventory
  • Forecasting tools meant significantly less time spent trying to wrangle spreadsheets
  • The transition was painful, causing initial doubts, but it was certainly worth the growing pains

Alternatives Considered

Abas ERP

Other Software Used

Google Authenticator, Google Classroom, Asana