Accounting Software for Biotechs & Life Sciences

Improving the Way Life Sciences and Biotechs Account for Themselves

Life science and biotech companies may be in the business of meeting challenges, but there is one challenge they shouldn't have to deal with:  their own accounting and project tracking matters.

A proven solution already exists. From tracking employee and contractor hours to accounting for multi-year clinical trial expenses and payments, Sage Intacct cloud accounting software is a scalable system that transforms the time your life science and biotech company spends managing its finances into a better way of managing your business.

Cloud ERP Benefits for Life Sciences and Biotech Companies

Sage Intacct brings the benefits of cloud-based computing to project accounting. As a result, Sage Intacct's life science and biotech users benefit in a variety of ways, including the following:

Traceability, Flexibility & Accuracy

Life sciences and biotechnology companies have a need to track everything from products, materials, test results and documents.  A cloud-based solution allows access to real-time data eliminates the need to weave together spreadsheets of historic data, across departments.

Collaboration

Team collaboration is critical for life sciences and biotechs for tests, products and documents. You need to know who did what and when. Sage Intacct Collaborate facilitates better communication and teamwork across the entire company, and expedites processes and decision making. Salesforce customers get an additional benefit: the company’s finance employees become members of its Salesforce Chatter network, which can be accessed directly from Sage Intacct for greater usability and convenience.

Financial Reporting

Instead, the system fosters greater collaboration and enables managers to create customized reports. The access to real-time data across the company also allows managers to access the current health of the business more accurately, and take quick action should bottlenecks in cash flow or inventory develop. The platform also accommodates a variety of "what-if" scenarios to better understand how the business can accommodate growth and what needs to be addressed next to sustain it.

Less Staff Time & Money Spent on Updates

Being completely cloud-based means the latest version of Sage Intacct is the only version you ever have access to. This lowers the demands on your own system, hardware needs, and staff time. It's also means your company is always running the most secure version possible. Sage Intacct runs in high-security Tier 1 data centers and is operated and monitored 24/7.

Sage Intacct Is Just a Better Solution

As experts in implementing accounting solutions for life sciences and biotech clients, The Resource Group is always on the lookout for better industry-specific solutions for planning purposes, inventory control and valuation, and for addressing the costs of clinical trials and compliance. After all, our job is helping you achieve and sustain your optimal operating efficiency.

We believe that Sage Intacct offers a more comprehensive and responsive solution to your industry's project accounting challenges, traceability, and collaboration than other alternatives, especially in today's volatile business environment. To learn more about why we've come to this conclusion, give us a call.

Contact us to learn more about accounting software for biotechs