How Do Life Sciences Companies Benefit From NetSuite SuiteSuccess Implementations?

Sikich has been a clear leader in the life sciences industry for quite some time now. We even earned the Oracle NetSuite Alliance Partner and Oracle NetSuite Solution Provider, proving our dedication to providing reliable and efficient services to biotech, pharmaceutical, and life sciences companies all over the country.

Sikich has been leveraging our experience gained by leading over 200 implementations by streamlining operations using our SuiteSuccess for Life Sciences bundle. This program allows companies to automate manual processes, implement financial controls, enable efficient/controlled purchasing processes, prepare for Equity Events/Sox Controls, and much more. The NetSuite Life Sciences team at Sikich has this process down pat. Our goal from start to finish is to have companies up and running within 90 days, with core capabilities often set up within just 30 days. What clients receive when signing up to work with Sikich is an experienced lineup of team members that are ready to take our best practices and align them with their current operating procedures and create the perfect recipe for success.

The Secret to the Success of SuiteSuccess for Life Sciences

Our SuiteSuccess for Life Sciences implementations are designed to move quickly but efficiently. It is a collaborative effort between the Sikich team and the client, and the partnership during this 3 month implementation is imperative to its success. In the highly regulated life sciences industry, our SuiteSuccess implementations are designed with compliance in mind, ensuring that companies are well-prepared for Sarbanes-Oxley (SOX) audits and other regulatory requirements as they scale. This readiness is crucial, especially as companies prepare for equity events and potential IPOs.

Below, you will find the ways we engage with the client during this process and what makes our methods so successful.

Project Planning Meeting

This meeting takes place with the implementation team at Sikich and the client’s project management team. Introductions are made, we review the project at a high level and discuss our project management and implementation methodologies. We go over the project timeline and discuss the next steps. This meeting sets the project’s tone and lets the client know we are ready to hit the ground running.

Solution Alignment

The Solution Alignment is our first pivotal engagement with the client, which is typically split into 2-day sessions. This is where we sit down and align the client’s current business processes with our Life Sciences best practices. Here, we dive deep into financials and create the design for the implementation. This is where the client is able to lean on Sikich for advice on things such as customized reporting, workflows, etc. We will reference this design when configuring the NetSuite environment.

Master Record/Data Migration Review

During these sessions, Sikich will meet with the client to review templates for Master Record data that we have put together that consists of details such as Chart of Accounts, Vendors and Employees. The client is then responsible for populating this data and providing it to Sikich consultants to upload into the system. Similarly, we review templates for Historical Data–these templates consist of Open AP, Open Bank Transactions, etc. This data is important as the first few days of “going live” will be about importing into NetSuite.

End Point Configuration Review

At this point, we are about halfway through with the implementation. During this engagement, the lead Sikich consultant will show the client what they configured in the NetSuite production environment. The client has a chance to see the product before training and discuss any changes or updates they would like made.

Super User Training

Sikich takes the “train the trainer” approach when it comes to Super User Training. We provide our users with the tools necessary to use NetSuite after they have gone live, with additional capabilities standing by, ready to turn on as their company grows. Detailed training agenda and materials are provided to the client and a month of Post Go Live support is provided as well to ensure that any questions and issues are taken care of.

Project Wrap-up Meeting

The final collaboration between Sikich and the client will be to meet Post Go Live and discuss the project at a high level. Feedback is very important to us, as it helps us grow as a team and thrive in this industry in which we have made a name for ourselves. Post Go Live support is also a major topic during this discussion as well. We stay on as the account manager providing ongoing support, especially in navigating SOX compliance and preparing for IPOs, ensuring that our clients are well-equipped for their future growth stages.

We designed our Life Sciences implementation approach with the client’s needs in mind to ensure that choosing Sikich will be the easiest decision they make during this process. If you would like to learn more information about NetSuite for Life Sciences companies, please reach out to a Sikich account manager!