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NetSuite for Life Sciences Companies
At RSM, we make a commitment to understand you, your passion for life sciences and the importance of your scientific work. We know your research and science is just as important as the business side of your organization. We’re dedicated to helping you with your business challenges and opportunities. It is the very essence of who we are and guides how we approach client service every day. The key to building this understanding is knowing the life sciences industry as a whole, as well as the detailed issues related to its segments, and how we can help you use technology to keep up with the fast paced nature of this industry.
Leveraging Oracle NetSuite, RSM has helped companies like yours gain better visibility into their business, position themselves for growth, and help manage and control the myriad of costs involved in research, trials and commercialization. We understand and have built solutions to support your growth at every phase of development - from first idea, through early research, into trials, and through commercialization, M&A or an IPO. Leveraging NetSuite and the industry insights of RSM, we can help you make the right technology investments, at the right time, and set your company up for continued growth.
Whether a pharmaceutical, biotech, medical device or clinical services provider, the demands of life sciences companies change rapidly. This requires an ERP system, like Oracle NetSuite, that is agile and can scale with your business. The correct ERP system can help manage common challenges, provide real-time visibility into expenses and revenue, and provide tools for consolidation and reporting as you grow.
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Using technology to accelerate growth in the life sciences market
NetSuite and Life Sciences
RSM’s NetSuite life science solution offers the best of NetSuite’s functionality, intelligently configured and designed for your life sciences business. We allow for you to focus on growth, efficiency, visibility and compliance.
- Rapid implementations – We have done numerous implementations of NetSuite for life sciences companies and bring leading practices based on those past implementations as part of our life sciences accelerator. This background allows us to get companies up and running on NetSuite faster and more cost effectively.
- Scalability – NetSuite, a cloud-based enterprise resource planning system, provides a scalable solution that will grow with you as you progress from pre-clinical, to clinical, to commercialization and beyond.
- Controls – Auditable change controls, packaged approval workflows, preconfigured user roles for segregation of duties and strong internal financial controls provide compliance for the Sarbanes-Oxley Act and promote investor confidence. Recommended tools and processes can speed up your close and distribute data transparently and effectively.
- Project tracking – NetSuite delivers research and capital project tracking functionality, including time and expense entry and budgeting. Helps track research and development and capital costs in your labs.
- Global finance – General ledger, payables and fixed assets are the engines that drive most transactions. The NetSuite solution supports multiple legal entities, currencies and languages with strong consolidation reporting features. Some clients opt for expanded corporate performance management (CPM) tools to help budget, plan and forecast.
- Outsourcing tools – NetSuite allows you to further streamline operations with your business partners (contract research organizations and contract manufacturing organizations) to track project progress and contract management. RSM also offers finance and accounting outsourcing options for companies that want to just focus their investment on the sciences—and have outside professionals run their back office.
- Commercialization – When the time comes and the business model has evolved, our solution can be optimized to help manage your transactions with CMOs, third-party logistics providers and purchasing vendors. There is no need to implement another tool set. Our supply chain professionals can help develop the new processes to support your expanding business. This solution also provides future state design to support inventory, sales order processes, R&D and commercial operations, and Sunshine Act compliance reporting.
A Dedicated Team
Across the United States, from the East Coast’s biotech corridor to California’s Bay Area, our firm has developed a cross-functional team of specialists focused on helping life sciences organizations like yours navigate the challenges of the industry. We work with life sciences companies at all stages, assisting with deals, tax strategies, industry-specific accounting and technology to support commercialization and initial public offerings. RSM can provide solutions on a scale that’s right for your business today, and through our national and international reach, offer the resources to take your business into the future.
RSM is one of the largest and most highly decorated Oracle NetSuite partners globally, and serves as a Solution Provider Partner, Alliance Partner, and BPO Partner for NetSuite. RSM is the trusted advisor to middle market companies for the evaluation, selection, implementation and support of our customers’ NetSuite investment. With more than 100 offices across the North America and a global network with established NetSuite practices in 14 countries, RSM has certified and highly experienced NetSuite resources around the world. With our unique understanding of the middle market, we’ve helped thousands of companies move forward with confidence. We listen closely to make sure we understand you, your business and your organization’s culture, so that you experience the power of being understood.