Revenue Recognition Simplified

If you plan to try and account for revenue recognition (RevRec) under the new accounting standards ASC 605 and ASC 606/IFRS 15 using a spreadsheet, be aware that this is going to introduce more complexity to your financial processes, not less. It’s a significant consideration. As finance contends with the new rules, interpretation of the regulatory landscape can be tricky and misstatements can have devastating consequences. But there is hope. New software applications and enhancements to existing ones are offering ways to simplify the complexities associated with the coming RevRec mandates, and in some cases making it almost as easy as accounting for fixed assets.

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Beating Software Systems Bloat in the Biotech Industry

Beating Software Systems Bloat in the Biotech Industry

One of the most common problems faced by companies in the biotech industry is software systems bloat. This can happen when multiple systems are used to manage different departments and processes, resulting in inefficient overall performance. Companies need to find solutions that will allow them to streamline their operations and reduce bloat while still enabling them to access critical data and technology.
NetSuite: A Modern Cloud ERP for Medical Device Companies

NetSuite: A Modern Cloud ERP for Medical Device Companies

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With NetSuite, medical device manufacturers and distributors can quickly get their products on the market while also streamlining various business functions. NetSuite's cloud-based technology offers a wide range of features to help medical device companies manage operations, including inventory and supply chain management, order tracking and fulfillment, financials, and analytics. NetSuite also provides an end-to-end platform for in-house and contract manufacturing, contact relationship management (CRM) and quality control.
Why More Pharmaceutical Companies are Choosing NetSuite

Why More Pharmaceutical Companies are Choosing NetSuite

As the Life Sciences and Pharmaceutical industry becomes more complex and regulated, the need for comprehensive, unified and cloud-based business management systems has never been greater. That's why an increasing number of pharmaceutical companies are turning to NetSuite.
Benefits of a Financial Management System for Crypto Investors to Ensure GAAP Compliance

Benefits of a Financial Management System for Crypto Investors to Ensure GAAP Compliance

For those in the know, cryptocurrency is the future of investments. Digital assets have already begun to carve out a place in the world economy and are only expected to become more commonplace in the years to come.