Controls and Scalability for the Biotech Firm

Enable better controls by leveraging NetSuite to actively manage your budget and spend as you go through clinical trials. Establish robust and trustworthy SOX controls as you prepare for an IPO. With NetSuite, your Life Sciences journey will be more efficient and secure.

Biotech & Life Sciences Best Practices

Purchasing Automation

Fully automated purchasing process that follows pre-determined spending limits and company approval policies. Extensive spend management controls to drive better decision-making.

Reporting by Trial or Product

Spend tracking by Project, Trial, Drug or any other parameter needed to effectively run the Biotech firm. Advanced Expense Allocations to enable maximum accuracy when producing financial statements.

Spend Controls & Audit

Strong General Ledger controls to enable compliance in preparation for an IPO. Budget vs. Actuals reporting including the ability to schedule the delivery of reports from NetSuite.

Project & Trial Management

Project Management, including timesheet entry, resource management and resource allocation. Fixed Asset management and automation for lab equipment, machinery or other capital purchases.

Scalability for Commercialization

Preparation and launch of commercial operations. Support of commercial operations when working with Contract Manufacturing Organizations (CMO) and other third parties.

SquareWorks Proven Industry Experience

Biotech Industry Consulting Experience

Combined experience of more than 20 years working with Biotech and Life Sciences businesses from Pre-Revenue to Fully Commercial with dozens of successful NetSuite projects.

NetSuite Certifications & Processes

SuiteSuccess certification for all Biotech-related NetSuite SKU’s, including Advanced Financials expertise for complex scenarios such as international and multi-currency environments.

Biotech Industry Application Ecosystem

Experience with integrations between NetSuite and key systems such as Prendio or Coupa. Strong expertise integrating with Budgeting and Planning products such as PBCS, Solution 7 and Adaptive Insights.

Reporting & Metrics for Biotech & Life Sciences

  • Financial Reports with Key Insights into Budgeting, Expense Allocations, and Amortization
  • Expenses by Project Trial, Drug, or Any Other Parameter Applicable to the Organization
  • Fixed Asset Management Reporting by Type or Item
  • Full Audit Trail for Transaction Processing including Changes to Records and Approvals
  • Operational Reports for Commercial-Stage Firms

Customer Success Story

Orchard Therapeutics sought a knowledgeable partner to guide them through an active NetSuite implementation as swiftly and as seamlessly as possible.
Once it became clear that our implementation needed outside support, we selected SquareWorks because they demonstrated they understood our situation and had been there before with clients.
Kris Ward, Director of Procurement, Orchard Therapeutics

Other Biotech & Life Sciences Firms that have trusted SquareWorks Consulting

Take your Biotech firm to the next level with NetSuite

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