Case Study: NetSuite Eases Transition After Life Sciences Company’s IPO

March 25, 2024
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Case Study

Client Background

A clinical-stage biopharmaceutical company in the immune-oncology space with 50–100 employees.

The Situation

The company had just completed an IPO and needed to move from QuickBooks and manual spreadsheets to a robust enterprise resource planning (ERP) system for stronger controls and functionality. Additionally, they had a purchase order (PO) system that wasn’t compliant with the Sarbanes-Oxley Act (SOX) and needed to be replaced immediately.

The Solution & Results

Moss Adams scoped the client’s business process needs and recommended NetSuite as their new ERP system. For the initial ERP systems rollout we implemented, our SOX professionals provided guidance on key controls to include.

Finally, we installed NetSuite leading practice for biotech clients, with additional configurations to meet key control and reporting requirements.

As a result, the client improved process automation around:

  • Journal approval workflow
  • Month-end close and reporting process
  • Procurement approval workflow and supplier collaboration
  • Electronic banking for automated reconciliation and ACH payments

We’re Here to Help

For more information on how systems assessment and selection, implementation or NetSuite can fit your industry and business needs, please contact your Moss Adams professional.

Additional Resources

About NetSuite

From fast-growing startups to global enterprises, NetSuite powers businesses across a variety of industries. NetSuite provides cloud financials, customer relationship management (CRM), e-commerce, human capital management (HCM), and professional services automation management for all organizations from fast-growing midsize companies to large global organizations. Additionally, each component of NetSuite is modular, enabling it to be deployed and integrated with existing investments as required.

With more than 36,000 customers running NetSuite worldwide and dependent territories, some of the world's most innovative organizations trust NetSuite and take their financial and operational processes to the cloud.

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