How NetSuite life sciences ERP supports companies from preclinical to commercial

The journey from an idea to releasing a product on the market is long, expensive, and highly regulated. However, it’s also full of opportunity. Life sciences companies, including biotech, pharmaceuticals, medical devices, and diagnostics, must navigate complex phases. These phases span from preclinical research to clinical trials and ultimately commercialization. Each stage brings unique challenges in data integrity, operational scalability, regulatory compliance, and financial visibility. Modern cloud systems like Oracle NetSuite life sciences ERP, when implemented with an experienced partner like Rand Group, can make a big difference. Rand Group brings deep life sciences industry expertise, tailored ERP system configurations, industry best practices, and compliance guidance. Below, we explore how NetSuite supports companies at every stage, and provides agility during transformative events like IPOs, mergers, and rapid growth.

During preclinical research, the focus is on discovery, securing funding, and establishing core processes. Early challenges include:

• Fragmented systems and spreadsheets
• Tracking costs and budgets across small teams and multiple experiments
• Establishing core business processes and project management practices
• Preparing for regulatory audits, including early GMP readiness

• Unified financials and expense tracking: Track R&D spending, project budgets, and grants in one place. Plus, forecast funding needs and generate investor-ready reports.
• Scalable cloud architecture: Start with core financials. Then add inventory, quality, or supply-chain modules as you grow.
• Data integrity and control: Maintain audit trails, permissions, and electronic records. This approach helps build a compliant foundation for future FDA or GxP requirements.
• Grant/funding management: Produce financial reports required by investors and funding bodies.
• Industry-specific solutions: Configure ERP for biotech, pharmaceuticals, medical devices, and other life sciences verticals. This ensures workflows align with lab operations, regulatory expectations, and preclinical processes.

Rand Group configures these capabilities with future growth in mind. Early investments are designed to support later stages without costly rework. As a strategic advisor, Rand Group ensures ERP adoption aligns with compliance, operational efficiency, and investor reporting requirements.

As products enter clinical trials, complexity increases. Multiple study sites, regulatory filings, and strict data controls become essential. Challenges include:

• Multi-site tracking of samples and product lots
• Budgeting and accruals for trial expenses, FDA/GxP, 21 CFR Part 11, and GMP compliance
• Integration with lab and regulatory systems

• Quality and regulatory controls: Electronic signatures, audit trails, and FDA/GxP, Part 11, and GMP compliance.
• Lot and batch traceability: Track materials and clinical product lots for recall or inspection readiness.
• Procure-to-pay automation: Centralize vendor data, automate purchase orders, and monitor supplier performance.
• Financial controls and reporting: Manage milestone payments, licensing, and complex funding agreements with accruals. Furthermore, consolidate reporting for greater accuracy.
• Real-time dashboards and demand planning: Leadership and investors get up-to-date spend, enrollment, supply status, and projected resource needs.
• Clinical trial accrual management: Automate trial cost accruals, reconciliation, and forecasting. This ensure accurate financial reporting and regulatory compliance.
• Sunshine Act reporting: Capture spend data, including healthcare professional interactions, to simplify reporting and reduce risk of non-compliance.

Regulatory approval or commercial launch brings new demands, including large-scale manufacturing, global distribution, and post-market compliance. Challenges at this stage include:

• Scaling with contract manufacturers (CMOs/CDMOs)
• Multi-channel supply chains and 3PL
• Complex revenue cycles, billing, and pricing
• Global tax and currency compliance

NetSuite is a comprehensive suite of integrated applications for the life sciences industry. It centralizes and automates core business processes, providing real-time visibility and collaboration.

• Manufacturing and supply chain management: Forecast demand, manage warehouses, and track lots for higher volumes. Additionally, NetSuite automates inventory, orders, and shipments from 3PL reporting packages, including Cardinal.
• Lab procurement: Automates lab purchasing and procurement transactions from Prendio and other solutions within NetSuite.
• Global business management: Supports multi-entity, multi-currency, and multi-tax operations.
• Order-to-cash automation: Streamline order entry, invoicing, returns, and revenue recognition.
• Quality and post-market compliance: Trackability and record retention help manage recalls or adverse-event reporting.
• Investor-grade financials: SOX controls and standard reporting build stakeholder confidence.
• Clinical trial accounting: Tracks trial spend and completion percent. It also generates automatic monthly accruals.
• Advanced features: Leverage procure-to-pay, demand planning, and vendor management automation to improve efficiency and reduce errors.

Life sciences companies don’t grow in a straight line. Transformative events can change operations, financial structure, and regulatory requirements.

• Initial public offerings (IPOs): Increased scrutiny and SOX compliance
• Mergers and acquisitions (M&A): Integration of systems and data across entities
• Strategic alliances and licensing deals: Complex revenue-sharing and milestone payments
• Rapid global expansion: New subsidiaries, currencies, and tax regimes
• Commercial scale-ups or product launches: New facilities and expanded supply chains

• Multi-entity and global consolidation: Real-time consolidation across newly acquired or expanding entities.
• Robust financial controls: SOX-ready internal controls and automated workflows support IPO and M&A readiness.
• Flexible revenue management: Model licensing, royalties, or milestone-based revenue with ease.
• Cloud scalability: Add business units, product lines, or global sites without infrastructure headaches.
• Real-time analytics: Leadership and investors get accurate data to make informed decisions.

Rand Group guides life sciences companies through these critical moments. We assess current systems, design future-state architectures, and implement NetSuite configurations for IPO readiness, M&A integration, and global rollouts. Our consultants provide training and change management to keep operations running smoothly. As a result, ERP adoption maximizes compliance, efficiency, and decision-making.

NetSuite life sciences ERP software is powerful, but its full value in life sciences requires expert configuration and industry knowledge. Rand Group helps life sciences companies unlock the value of NetSuite ERP with expert implementation, industry insight, and ongoing support. We understand the operational and financial challenges of pharmaceutical, biotech, medical device and other life sciences companies. We can guide organizations through NetSuite ERP implementation, integration, and optimization.

Our services include:

• Life sciences-specific workflows from lab to launch
• Compliance expertise for FDA, GMP, GxP, SOX, and Sunshine Act reporting
• Integration with LIMS, QMS, CTMS, and other specialized systems
• Scalable financial, manufacturing, and supply chain management solutions
• Real-time dashboards for executives, investors, and regulators
• Ongoing optimization and support as you grow

With decades of experience and deep industry knowledge, we help clients streamline operations and maintain regulatory compliance. In addition, we enable them to protect product quality and achieve measurable ROI.

Life sciences companies go through different stages—preclinical discovery, clinical trials, and commercialization. At the same time they can also face transformative events like IPOs or acquisitions. Each stage has its own operational, financial, and regulatory challenges.

NetSuite life sciences ERP is a cloud platform that scales from early R&D to global commercial operations. With Rand Group as your implementation partner, you get more than software. You also get industry expertise, advanced ERP features, compliance tools, and strategic guidance. We ensure your ERP foundation can handle every step of your journey, from preclinical breakthrough to commercial success and beyond. Contact us today to schedule a consultation.