How Tech Solutions Can Power Your Life Sciences Commercialization Journey

If you’re in the life sciences field, you know that moving from startup to commercialization isn’t just a journey—it’s a full-on expedition. You’re not just scaling a company; you’re navigating complex regulatory landscapes, managing data, and, most importantly, getting your groundbreaking therapies to the patients who need them. To do all this successfully, you need the right tech solutions in your arsenal. So, what’s crucial as you make this leap? Let’s break it down.

The Power of ERP Systems: Your Commercialization Command Center

First up, let’s talk about ERP systems. You’ve probably heard the tech term tossed around a lot, but what does it really mean for a life sciences company on the brink of commercialization? Simply put, an ERP system is like the command center for your entire operation. It brings together all your business processes—think finance, procurement, HR, and more—into a single, integrated system.

As life sciences companies grow, their needs become more complex. Those early days of getting by with QuickBooks and Excel sheets are long gone. Mike Kean, a Partner with Sikich’s Technology Practice, has seen this firsthand: “Most life sciences firms don’t realize the problem with QuickBooks until a year or two in the industry. By that time, their systems aren’t robust and scalable enough, or they lack the financial reporting capabilities needed to keep up with a growing life science company’s need.”

When you’re preparing to commercialize, your ERP system becomes mission critical. It not only helps you manage your daily operations more efficiently but also ensures you’re ready for the demands of being a revenue-generating entity. For example, Sikich’s SuiteSuccess for Life Sciences, built on NetSuite, is designed to handle everything from financial controls to compliance management, and it’s tailored specifically for the life sciences industry. Within just 30 days, you can have all the core capabilities up and running to support the next two years of growth​.

Integrated Platforms: Bringing It All Together

Next, let’s talk about integrated platforms. As life sciences companies expand, they often find themselves juggling multiple software tools—one for finance, another for procurement, yet another for CRM. This can quickly turn into a logistical nightmare, especially when these systems don’t talk to each other.

Integrated platforms solve this problem by bringing all your tools under one roof. With an integrated platform, you can seamlessly connect your ERP system with other essential applications like payroll, banking, and industry-specific systems. This means no more double data entry, fewer errors, and a whole lot more efficiency.

“Because timeliness and speed are often essential in this industry, we can implement the solution rapidly,” said Kean. “Within that 30 days, we give life sciences firms everything they need to get through the next two years. They just need to turn on the features we have already included in our bundle.”

Cloud Solutions: Speed and Flexibility at Scale

Finally, we can’t talk about technology solutions without mentioning the cloud. If ERP systems are your command center, then cloud solutions are the highways that keep everything connected, no matter where your team is located.

The beauty of the cloud is its flexibility. As your company grows, your cloud-based systems can scale right along with you. Need to add more users? No problem. Expanding into new regions? The cloud has you covered. Plus, with everything stored securely online, you never have to worry about losing critical data.

“Today, companies focused on drug development are harnessing the cloud to create a central location for all data spanning the entirety of the drug development continuum,” notes a report. This centralization not only speeds up decision-making but also ensures that everyone—from researchers to compliance officers—has access to the same, up-to-date information​.

The Bottom Line: Technology is Your Best Ally

Getting a life sciences company ready for commercialization is a big job, but with the right tech tools, it doesn’t have to feel like an uphill battle. By using ERP systems, integrated platforms, and cloud solutions, you can tackle the challenges of scaling up, staying compliant, and getting your products to market faster. We’ve helped plenty of companies just like yours through this journey, and we’re ready to help you do the same. Whether you’re just starting out or already on your way, these tech solutions can grow with you, keeping you focused on what really matters—making a difference with your innovations.

Reach out to us today to learn more about how we can support your commercialization efforts and help you achieve your business goals. Let us be your partner in success as you navigate the complexities of bringing your products to market and expanding your reach.