NetSuite ERP for Life Sciences

BDO Digital’s custom NetSuite solutions offer built-in approval workflows and audit controls that allow you to proactively manage important business transactions and help protect your bottom line. You can set how reports move through your approval workflows and define elevation thresholds for automation.

Enhanced Approval Workflows

BDO Digital approval workflows allow users to define approval rules in which multiple approvals from various departments or entities are required before transactions impact the general ledger or cash flow.

Key Features

Authority matrix

Setting up an authority matrix clarifies roles and responsibilities within your organization so everyone knows who has the authority to make specific decisions.

Approval notes

Leaving approval notes let authorized decision-makers explain the rationale behind their choices so everyone stays on the same page.

Separation of duties

Prevent fraud and error from negatively affecting your business by setting internal controls on all funds, including payroll distribution, deposit slips and more.

Audit support

A centralized cloud database facilitates quick and easy access to historical records, reducing audit time and enhancing reporting and analysis.

Routing and approval

The approval routing pages allows you to establish and select the process expense reports that go through your approval workflows. Set thresholds for elevation, and easily onboard new employees.

Scalability

As the number of purchase orders, contracts, and invoices increases, you’ll have peace of mind that our system will always meet your demands.

The COVID-19 pandemic wreaked havoc on global supply chains across almost every industry, disrupting order fulfillment and resulting in lost revenue. While global supply chains are projected to return to pre-pandemic trajectories, building a resilient supply chain is critical for navigating similar large-scale emergencies. 

To do so, you need visibility into your products and requirements — without the extraneous information that so often bogs companies down. BDO Digital’s custom NetSuite offerings provide intelligent supply chain solutions that work to achieve this goal in all phases of product development and order fulfillment.

With a robust cloud-based material requirements planning (MRP) system, NetSuite helps improve overall cost-efficiency by estimating raw material quantities, delivery schedules and use-by dates. Receipts management capabilities help simplify financials and accounting, and work order tracking and lot control let you monitor where orders are in the fulfillment process.

Key Features

Purchasing and procurement 

We identify organizations that supply the products you need, aid in the purchasing process and procure the products to be sent out.

Material requirements planning (MRP) 

Our robust cloud-based inventory management system improves productivity by estimating quantities of raw materials with a schedule of their deliveries, and by constantly parsing raw data such as the shelf life of stored materials and bills of lading.

Receipts management 

For every purchase completed, we record receipts of inventory at both outsourced and in-house facilities. This makes financials and accounting easier for your company.

Transfer orders and pricing

We provide automated tracking inventory movements between subsidiaries with correct eliminations and inter-company profit calculations.

Vendor and materials onboarding

Our CMO supply-chain solutions make it simple to onboard new vendors or materials. The process is intuitive, so you don’t waste time when adding new information to the system.

Work orders and assemblies

Easily track all work orders and assemblies, or implement new ones as needed—all in one place.

Lot control and traceability 

Track which supplier lots are used for finished products and where the products end up. This feature allows for full look-back and look-forward through all products.

When you work with us, we help create custom NetSuite solutions that offer an effective platform for sourcing, purchasing and receiving inventory — so your organization can grow sustainably.

Efficiency and Effectiveness, Right Away

Innovative procurement can deliver a competitive advantage, providing sustainable efficiency gains sooner within your organization’s growth. Our system is built around the most effective way to source, purchase and receive inventory.

Key Features

Punch out

NetSuite's integrated system allows you to purchase materials and supplies directly from suppliers' websites without leaving your internal applications.

Purchase requisitions

Jumpstart the purchasing process directly within the NetSuite system using the integrated purchase requisition tools.

ACH and e-banking

Automated banking functionality helps ensure on-time payments, refunds and billing through electronic funds transfer (EFT).

Contract management

Say goodbye to manual accruals! Automate your contracts and accruals with BDO Digital’s contract management solutions.

Procure to pay

BDO Digital’s procure-to-pay capabilities provide a superior user experience, allowing organizations to make intelligent purchases—buying at the right time, at the right cost—with an intuitive, simplified workflow and user interface.

Life Sciences companies executing complex clinical trials need a platform to understand, control, and strategize their R&D spend. BDO has partnered with Condor to provide an audit-ready solution for automating accruals, reconcile invoices and provide accurate forecasts that integrates into NetSuite and other ERP and accounting systems.
 

Key Features

• Get detailed planning, allocation, and tracking of budgets across trials and phases.
• Increase forecast accuracy -- predict costs based on changes in trial scope, timelines, or enrollment rates.

• When integrated with NetSuite, companies can automate payments to clinical trial sites, vendors, and other partners based on completed milestones, patient visits, or invoices.
• Sophisticated reconciliation capabilities matches payments with contracts to reduce manual errors.\

• Supports management of contracts, amendments, and payment terms to align with trial requirements.
• Integration with invoicing workflows to ensure payments match approved budgets and trial progress.

• Maintains a comprehensive audit trail to ensure transparency and compliance with regulations like SOX, FDA, or GDPR.
• Provides tools for generating reports required for financial and regulatory audits.

• Real-time dashboards and analytics for tracking trial financials, variances, and KPIs.
• Insights to optimize resource allocation and identify cost-saving opportunities across trials.

Gain complete visibility over all supply chain connections on demand with NetSuite's advanced reporting capabilities. The professionals at BDO Digital are dedicated to helping you optimize the reporting software for your specific industry and business model so you can focus on enhancing efficiency.

Industry-Specific Solutions, Optimized for Pharma

BDO Digital understands that outdated, one-size-fits-all accounting systems can’t adequately address pharma-specific needs and lack Tier 1 solutions for many companies, especially those researching rare and orphan diseases. By enhancing the base NetSuite platform with industry-specific solutions, we help you meet your global financials needs.

Key Features

Multi-entity and multi-currency reporting

Global companies can automate reporting for consolidations and eliminations across all their entities and currencies, simplifying international business growth.

Contract management

Our contract expense accrual management module automates labor-intensive accrual methodologies, allows for direct input, directs connection into contract lifecycle management, and syncs solutions right into deliverables.

SOX compliance

Sarbanes-Oxley (SOX) compliance is standard for every financial deployment we offer. We can segregate duties and offer delegation of authority/authority matrix, audit support, integrated controls, and more to make compliance maintenance easier than ever.

Procure to pay

Boost operational efficiency by integrating purchasing and accounts payable systems into one streamlined workflow.

Approval modules

Our approval modules offer access to transactions, entity records, new vendors, general ledger accounts, and more. You’ll easily see which approvals are outstanding, overdue, or completed—without having to search for the information.

Advanced reporting

Our advanced reporting system is specifically optimized for pharma, meaning all your information is neatly collated and contained in one place. You can review your financial reports in a variety of ways, including by class, department, candidate, indication, lab, and more.