Biotech

Applying Technology Towards Business Growth

It’s difficult to predict the success rate of a Biotech company in today’s competitive market. Technology has been paving the way for innovators in the industry who are ready to evolve their infrastructure for better results. The implementation of Netsuite’s cloud ERP solutions allows your business to easily navigate the path of company growth with benefits like:

  • Faster financial statement close.
  • Real-time management of spend.
  • Streamlined financial consolidation.
  • Helping you to reach compliance standards (HIPAA).
  • A 360 degree view of all operations.
  • Robust internal controls and SOX compliance.
  • Customizable platforms for your unique business needs.

Benefits

In recent years, IT spending in the Biotech industry is seeing a massive spike in numbers – which Gardner predicts will reach $54 billion by 2019 at a rate of 5 percent / year. Startups are growing at an alarming rate and need to be prepared for the road ahead, whether they decide to continue as a private company, go the route of IPO, or engage in a merger. Many Biotech companies are struggling to ensure stability as their growth requires constant updates and improvements to their management software. When you have the right partner in NetSuite and ERP implementation, they can ensure that your company’s business processes move along at the higher speed required to succeed in a thriving business.

NetSuite for the Pharmaceutical Industry

NetSuite for the Pharmaceutical Industry

In a growth-driven industry, Pharmaceutical businesses must constantly struggle to make due on strict timelines and adapt to frequent shifts in compliance laws. To achieve wide success and get their product to the market in a timely manner, Pharma companies require a strong technological infrastructure to deal with day to day business requirements and concerns. This can easily be solved with a data and finance management system that goes above and beyond. With our implementation of NetSuite’s Cloud ERP solutions, they can benefit from easy inventory management, real-time tracking of project expenditures, and much more.

In turn, the company can focus on the manufacturing of drugs and marketplace goals while our implemented NetSuite system removes the need for excessive paperwork and unnecessary delays over resource management .

How Can We Help You

No matter your current company size, you have to plan for rapid growth – and NetSuite’s ERP functionalities can help ease the process.

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Faster Financial Statement Close

Faster Financial Statement Close

Cloud solutions like NetSuite provide flexibility and a breadth of capabilities that eliminate manual work around financial statement close, enabling an accelerated close and near realtime reporting.

Real-time Management of Spend

Real-time Management of Spend

Robust purchasing, flexible workflows, mobile access and multiple reporting dimensions allow accounting to effectively enable spend in a controlled, real-time manner along with transparency to see where your valuable dollars are being spent.

Streamlined Financial Consolidation

Streamlined Financial Consolidation

Realtime consolidation capabilities eliminate the need for Excel files and provide access to corporate consolidated results at any time.

Robust Internal Controls and SOX Compliance

Robust Internal Controls and SOX Compliance

Biotech companies preparing for an IPO quickly find that QuickBooks doesn’t have the robust access and IT controls needed to meet SOX and COSO 2013 requirements. Documented processes, policies and controls, as well as a thorough assessment of entity and control risks, will ease compliance.

Support For Growth

Support For Growth

As your business changes or you near commercialization, solutions like NetSuite easily scale to provide additional capabilities when needed—whether managing customer orders, inventory costing, complex production or revenue recognition.

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