A pair of bioscience companies have teamed up with cloud-based application firm Oracle NetSuite to help improve their software infrastructures, in the hope that it will help them bring their products to market faster.
UK based company BioMonde plans to leverage the NetSuite OneWorld platform to help its expand globally, faster. BioMonde CFO Mike Johnson said, "NetSuite OneWorld enabled us to expand and now we're able to slice and dice not just financial data, but all the data salespeople have captured. With this data, we have a clear view of where we are and where we need to be at any given moment."
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Clinical-stage biopharmaceutical firm Selecta Biosciences is known for its therapies which help mitigate the effects of unwanted immune responses. It has partnered with NetSuite in order to streamline business processes such as accounting.
"Implementing NetSuite was a great system investment,” commented Chip Michaud, the company's FP&A director. "By significantly reducing the amount of time to handle backend processes, we are able to better focus on developing our product candidates."
Due to the nature of healthcare, it can be hard for some companies to respond to the unique needs of patients while remaining compliant with regulations. Leveraging cloud-based platforms like Oracle may become more common for such companies looking to outsource more tedious business processes.
Paul Farrell, vice-president of industry product marketing and management at Oracle NetSuite said, "NetSuite gives them a unified, cloud-based platform to streamline business complexities and pressures around everything from regulation to increased competition."