NetSuite for Life Sciences built by Sikich

Netsuite for the life sciences industry

If your company has ambitious goals, your technology infrastructure must keep up. Progressing through clinical trials, evaluating or planning an IPO, all while undergoing rapid growth have a unique set of financial, contract, compliance, and reporting needs. SuiteSuccess for Life Sciences with NetSuite enables you to advance your research throughout every stage of your business life cycle. With over 150 implementations, SuiteSuccess for Life Sciences was named NetSuite’s Micro-Vertical Solution of the Year, and is quickly becoming the defacto standard for all successful life sciences companies.

Sikich Microvertical Solution Partner of the Year logo

KEEP MOMENTUM AND STAY ON-TOP OF COMPLIANCE

Don’t allow your technology infrastructure to lag behind your company’s goals. Leverage Sikich’s experience gained from dozens of NetSuite implementations for Life Sciences organizations like yours to avoid common pitfalls and pave your way to success.

Suitesuccess for life sciences enables you to

Consolidate multiple sources of company information (different systems, excel spreadsheets, etc.) on one centralized platform
Automate manual processes​
Implement Financial Controls​
Prepare for Equity Events / Sox Controls​
Enable efficient/ controlled purchasing processes​
Generate accurate reporting for Multi-National, Multi-Company, SEC reporting​
Improve Vendor Management & Procurement​

Case Study: SCholar Rock

Biotech company Scholar Rock was looking for a solution that would meet all their growing needs while remaining agile in the fast-paced world. Their Quickbooks solution was hitting the limits of what it could do and they turned to Sikich and NetSuite to build out a solution that will take them far into the future.

SUPPORT YOUR COMPANY FROM CONCEPT TO COMMERCIALIZATION 

No matter where you are in the lifecycle of your business, get your company up and running on SuiteSuccess for Life Sciences in as little as 8 weeks.

The solution provides a financial system that can quickly scale as you progress from concept, or start-up to commercialization. Integrated with many popular procurement tools, like Coupa, SuiteSuccess for Life Sciences gives you everything you need to succeed, quickly, affordably, and without substantial investments in IT infrastructure. Choose to implement the full solution during your initial engagement or opt for a phased approach as your organization matures.

Think ERP is too big for your pre-revenue life sciences company?

Many life sciences companies, especially in the Concept or pre-revenue startup phase, think that ERP is too costly, or too complex for a business of their size. However, in just a matter of months, these same companies often find that using Excel spreadsheets or accounting solutions like QuickBooks are just not working and/or keeping up with the growing demands of their business.

Moving to an ERP solution, like SuiteSuccess for Life Sciences, sooner rather than later helps eliminate compromises and bottlenecks before they interfere with your mission.

Considering an Equity Event?

Now is the time to drive the culture shift to act and operate like a public company well before the IPO takes place. Make sure you build in a grace period to give your organization the ability to ramp up its systems to support the new requirements that come with being public. If you haven’t invested in an ERP solution tailored to the life sciences industry, now is the time to start evaluating systems.

Does your management structure support your approval matrix? Does your current system support the segregation of duties required for SOX compliance?

With over 150 implementations and counting, our team is well versed in helping life sciences companies on their path to going public as well as helping you through the process of building simple, scalable controls to reduce audit pressures. SuiteSuccess for Life Sciences supports both scalability as your organization grows and segregation of duties, even as your transactions grow more complex.

Our ideal scenario is to follow the path of establishing a strong ERP solution, like NetSuite, giving users time to adopt that new system, layering in the controls after the organization fully defines them, and then enabling system adoption of those controls.

Are manual clinical trials management processes highly time consuming?

We’ve found for many life sciences companies, managing clinical trials can be incredibly manual, performed at the end of the month, and can take days to perform. The most manual process is the financial tracking of these clinical trials and the communication with vendors regarding the level of completion. If you’re currently using Excel and email communication to manage these relationships, there’s a better way.

SuiteSuccess for Life Sciences allows you to manage projects or studies with a dimensional chart of accounts and purchasing processes. You have the ability to establish monthly project plans, track incurred costs versus vendor invoices, and automate month-in journal entries as it relates to your prepaid or accrual position on clinical trials to help streamline audits.

What does your commercialization roadmap look like?

Are you planning to stay in Research & Development, outsource manufacturing to a Contract Manufacturing Organization (CMO), build product manufacturing capabilities in house, or do you have an exit strategy in mind?
No matter what your decision, SuiteSuccess for Life Sciences, built on NetSuite can help get you one step closer to your goal. With built-in manufacturing capabilities, it’s flexible enough to support many different inventory management scenarios, Work in Progress (WIP), procurement and tracking and traceability. manufacturing and order management capabilities. If you’re planning to sell in-house, NetSuite has built-in CRM capabilities, and Sikich has a Salesforce practice if you’d prefer to go with a best of breed approach.

Why Life Sciences Companies Choose Sikich

When life sciences companies engage with Sikich to implement NetSuite and SuiteSuccess for Life Sciences, they rely on the industry and technical experience of a successful consultancy with a long list of loyal, satisfied clients. Here are the top seven reasons why life sciences organizations should work with Sikich to implement NetSuite.

Experienced Staff and Industry Knowledge

Every implementation is staffed with a senior team member, who on average has performed over 30 NetSuite deployments, specifically within the life sciences space.

High Client Satisfaction

Our clients love working with us and have given us an average score of 9.4 out of 10.

Functionality and Efficiency

SuiteSuccess for Life Sciences, give you broad functionality you cannot find in any other solution on the market.

Non- Disruptive Implementations

SuiteSuccess for Life Sciences allows us to streamline the deployment, significantly reducing time-to-benefit, starting your project, much further along than many other partners in the market.

Life Sciences Leader

Sikich has made an art of bringing enterprise-level software capabilities to smaller and fast-growing organizations—while working within budgets, schedules, and expectations.

More than Just a NetSuite Partner

We have broad experience in integrations and implementations of Coupa, Salesforce, Quality Management Systems (QMS) like TrackWise, Regulatory Quality and Compliance, and validation.

Lifetime Support

Even after deployment, you continue to have a single point of contact for expert support for your software products and integrations.

GET STARTED TODAY

Learn how you can prepare your life sciences company today and into the future