NetSuite for Life Sciences
NetSuite gives Life Sciences companies the ability to manage programs, funding, accounting, supply chain, inventory, and manufacturing in a single cloud-based business management platform.
Customer Success Stories
Take control of complex program management and funds management and plan for rapid growth with NetSuite for the Life Sciences.
Advancements in technology, breakthroughs in medical treatments and the need for managing tight budgets and timelines are compelling Life Sciences companies to create solid business processes. Investing in ERP technology helps Life Sciences companies to gain better control over Program Management and increase visibility into business performance. In addition, the need for Life Sciences companies to adhere to numerous compliance requirements, such as GAP and SOCs, means running inferior applications like Quickbooks becomes a key point of risk.
NetSuite’s unified, cloud-based business management suite can help Life Sciences companies optimize internal processes to get ready for rapid scaling after approvals and during the commercialization and distribution phases.
Download Our NetSuite for Life Sciences Industry Guide
Cloud-based Business Solutions from NetSuite for Life Sciences
Increased competition and changing regulatory and compliance requirements mean Life Sciences businesses need software that is scalable, process driven and industry aligned.
NetSuite for Life Sciences is a unified suite of cloud-based cloud solutions to support all business needs with modules pre-configured to your industry. It combines accounting, budgeting and financial control, program planning and contact management with stakeholder relationship management, demand and supply planning, in-house or contract manufacturing management and more.
As an Oracle NetSuite Solution Partner, Zanovoy’s experts are recognized as leading specialists in implementing and supporting NetSuite’s range of cloud solutions across multiple Life Sciences industries, including BioTech, Pharma, Medical Devices, CRO and CMO organizations. Our clients benefit from Zanovoy’s implementation methodology delivering software on time and within the scope as promised.
Key Benefits of NetSuite for Life Sciences
360 Degree Visibility of Your Entire Business
NetSuite is a simple yet powerful business management solution that gives you access to your business’s critical performance information in real-time.
Create Efficiencies By Streamlining Your Accounting Tasks
Our system supports users by giving them at-a-glance access to crucial information, transactions and tasks, ensuring your finance team has the visibility they need to perform.
Keep Your Entire Team On Track
Because all users work from the same system, your program manager can work collaboratively with every department of your business.
Fast and Flexible Reporting & Compliance
Get real-time insights across every department of your business with a suite of reports built specifically for the Life Sciences industry.
Simplify to a Single Business Management Platform
Modern cloud technology supports your Life Sciences organization to run smoother and progress through the research, clinical trial and approval processes without the need to hire additional team members.
NetSuite for Life Sciences Companies Includes the Following Modules & Functionality
Program ManagementAccounting and FinanceInventory & Supply ChainComplianceDemand & Supply PlanningFixed Asset ManagementContact ManagementWorkflow & AutomationMulti-Entity ManagementManufacturing Resource Planning
Program Management for the Life Sciences Industry
The Life Sciences industry is driven by program management. Programs in this industry are often large, multi-disciplinary and involve a wide range of stakeholders and need to be tracked with a level of granularity. Zanovoy’s Life Sciences bundles extend NetSuite’s native functionality to be able to manage Programs and Indications. We are also able to manage the automation of CRO contract management, as well as accruals, prepaid positions, and rebalances depending on the billing and delivery cycles of your program research partners.
Accounting & Finance for the Life Sciences Industry
The Life Sciences industry is a complex and ever-changing field, and keeping on top of the latest financial developments is essential for success. From accounting for research and development costs to managing pricing and rebalances, there are several unique challenges that Life Sciences companies face when it comes to financial management.
To stay ahead of the curve, it is important to have a strong understanding of the accounting and finance issues specific to the Life Sciences industry, including revenue recognition, cost of goods sold, inventory accounting, and more.
Advanced Inventory and Supply Chain & Logistics Management for the Life Sciences Industry
The Life Sciences industry is highly regulated, and compliance is essential for success. Good inventory and supply chain management are critical to ensuring compliance with regulations. Advanced inventory and supply chain management systems can help Life Sciences companies track inventory, manage the procurement process, and ensure that products are delivered on time and comply with regulatory requirements.
Inventory and supply chain management systems can also help Life Sciences companies reduce costs and improve efficiency. Advanced systems can automate the process of tracking inventory, ordering supplies, and managing the delivery of products. This can help Life Sciences companies save time and money by reducing the need for manual processes and eliminating errors.
Compliance Software for the Life Sciences Industry
The Life Sciences industry is one of the most heavily regulated industries in the world. To stay compliant with all the applicable regulations, companies in this industry need to have robust compliance software in place.
Compliance software helps companies track and manage their compliance obligations, ensure that they are meeting all the relevant requirements, and identify potential areas of non-compliance. It is an essential tool for Life Sciences companies that want to stay compliant with the myriad of regulations that apply to their business.
NetSuite for Life Sciences provides users with a library of reports to help manage compliance and reporting to relevant governing bodies.
Demand and Supply Planning for the Life Sciences Industry
The Life Sciences industry is a highly competitive and rapidly changing sector. To stay ahead of the competition, companies need to have an effective demand and supply planning strategy in place.
An effective demand and supply planning strategy takes into account several factors, including customer demand, production capacity, regulatory requirements and market trends. By taking all of these factors into account, companies can develop a plan that will ensure they can meet customer demand and stay ahead of the competition.
Fixed Asset & Equipment Management for the Life Sciences Industry
Managing fixed assets and equipment is a critical part of ensuring that Life Sciences companies can operate effectively and efficiently. To meet regulatory requirements, manage costs, and optimize operations, Life Sciences companies must have a robust system for tracking and managing their fixed assets and equipment.
A well-designed fixed asset and equipment management system will provide visibility into the location and status of all assets, allow for easy tracking of depreciation and other financial information, and give users the ability to generate reports and analytics to support decision-making.
Contact Management for the Life Sciences Industry
NetSuite’s comprehensive Contact Management module offers many benefits for Life Sciences companies. Perhaps most importantly, these tools can help improve communications, track correspondence and provide accurate and up-to-date contact, supplier and partner updates. Additionally, NetSuite’s Contact Management system can help Life Sciences organizations better manage their contacts relationships, providing more personalized service and support to all team members.
Workflow & Automation for the Life Sciences Industry
In recent years, the Life Sciences industry has begun to adopt workflow and automation technologies to help streamline operations and improve efficiencies.
Workflow and automation can help Life Sciences organizations manage their complex processes more effectively and efficiently. Workflow solutions can automate repetitive tasks, thus reducing the need for manual input and increasing accuracy. Automation can also help to optimize and monitor processes, providing real-time visibility into program performance.
Multi-Entity Management for the Life Sciences Industry
Multi-entity management is a term used in the business world to describe the process of managing multiple legal entities within a single organization. In the Life Sciences industry, managing multiple entities is often necessary in order to comply with regulations and maintain a clear separation between different areas of the business.
Manufacturing Resource Planning for the Life Sciences Industry
NetSuite’s Manufacturing resource planning functionality has been developed to support efficient management of manufacturing resources. It encompasses all aspects of the manufacturing process, from raw materials to finished products. NetSuite for Life Sciences is an integrated system that considers both the financial and operational aspects of the manufacturing process.
The goal is to optimize the use of resources and minimize the cost of manufacturing. NetSuite takes into account all of the constraints that are inherent in the manufacturing process, such as capacity, material availability, and quality.
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