From Complexity
to Simplicity
Streamlining Blood Therapeutics Biotech
Situation
A pioneering company developing therapies for acute and chronic hypoxemic pulmonary disorders found themselves entangled in a web of fragmented systems and manual processes. Managing operations across multiple entities in the US and Europe, they faced significant challenges and turned to Suitefy for a streamlined solution.
Challenges
- The pinpoints for the company were:
- Systems in the US and Europe were disconnected, leading to a lack of consolidation.
- European entities lacked secondary book accounts, vendor payments were manually processed, and intercompany transactions were cumbersome.
- Additionally, there were approval process challenges with Fixed Asset Management (FAM) journal entries, and integration issues between Zycus and NetSuite.
Solution
- To resolve these issues:
- Suitefy implemented the NetSuite SuiteSuccess solution, bringing much-needed cohesion to the company's operations.
- Introduced NetSuite Multibook, enabling seamless financial consolidation.
- Moreover, intercompany process flows were established, and NetSuite Advanced Electronic Bank Payments were set up to automate vendor payments across all entities.
Results
Single ERP
system.
Automated
intercompany
process flows.
Eliminated manual
efforts from the FAM JEs
approval process.
Country-specific
financial and tax-related
reports generation.
Vendor Payments
Automation.
Modules
FAM
Procurement
Multi-Book Accounting
Workday
Electronic Bank Payments
Finance
JPMorgan Chase & Co
Zycus
Concur
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NetSuite Implementation
from the start!
Get in touch with us for expert guidance.
Phone:
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Email
sales@suitefy.com