Jade Global with Oracle NetSuite Give Life Sciences Companies the Gift of Speed, Agility, and Scale
- 1. White Paper Jade Global with Oracle NetSuite Give Life Sciences Companies the Gift of Speed, Agility, and Scale TM
- 2. White Paper Introduction: Speed, Agility and Scale for the Life Sciences Industry By combining cloud ERP with an industry-specific digital operations platform, pre-revenue and small to midsized life sciences firms can accelerate now versus later. Focused on creating products that improve the lives of living organisms, life sciences companies are going through a period of change as they adopt technology that can support their overall digital transformation goals. Operating in the pharmaceutical, biotechnology, medical device, biomedical technology, nutraceutical, and cosmeceutical fields, these life sciences companies must balance their core missions of developing successful cures with operating a successful business entity. As they move from the research and development (R&D) phase and into product commercialization, for example, they must scale up quickly to meet the demands of their health care customers and patients. Throttled by a patchwork of legacy systems, proprietary software, basic QuickBooks systems, and Excel spreadsheets, these companies need unified enterprise systems that can run their end-to-end operation—not just bits and pieces of it. Only then can they attain the desired levels of speed, agility, and scale needed to grow and thrive. In this white paper, we explore the key challenges facing today’s life sciences companies and explain how a digital operations platform integrated directly with NetSuite Cloud enterprise resource planning (ERP) is helping these organizations achieve their speed, agility, and scale goals. Jade Global with Oracle NetSuite Give Life Sciences Companies the Gift of Speed, Agility, and Scale
- 3. White Paper A Resilient, Vital Industry Dedicated to the various stages of research, development, technology transfer, and commercialization, life sciences companies must modernize their IT portfolios and business processes if they want to compete effectively in today’s marketplace. Thrown into the spotlight by the COVID-19 outbreak, many companies in the sector were forced to ramp up quickly and come up with ways to both prevent and treat the virus. With life sciences companies increasingly being called upon to cure emerging health issues and help make the world a healthier place to live, work, and play, the companies in the sector need robust technology tools that support their causes and shepherd them through the various stages of business growth. Working with both pre-revenue and small to midsized (SMB) life sciences companies, Jade Global replaces rudimentary legacy and on-premises systems with NetSuite Cloud ERP and a Digital Operations Platform designed specifically with the life sciences entity in mind. Jade Global with Oracle NetSuite Give Life Sciences Companies the Gift of Speed, Agility, and Scale
- 4. White Paper ERP Doesn’t Exist in a Silo Pre-revenue and SMB life sciences companies have specific needs, including going public, raising funds, successfully finishing stage II clinical R&D trials, and preparing for commercial launch, among others. Checking off all of these boxes takes an integrated cloud platform that can efficiently manage costs and operational requirements involving clinical trials, project management, planning & budgeting, financial reporting, inventory management, clinical supply chain, procurement, human resources (HR), and payroll. By developing a multifaceted Digital Operations Platform that integrates directly with NetSuite Cloud ERP, Jade Global serves up a solution that life sciences companies can either use as a bundle or ala carte. Where NetSuite Cloud ERP provides a broad range of functionalities that these companies can use to run their operations, Jade Global helps connect the dots between life sciences firms and their outsourced supply chain partners, contract manufacturers, and packaging companies that play crucial roles in getting products commercialized and into patients’ hands. Jade Global with Oracle NetSuite Give Life Sciences Companies the Gift of Speed, Agility, and Scale
- 5. White Paper A Tech-Based Compliance Tool A fundamental consideration for any company that’s making products for human or animal consumption, regulatory compliance is yet another area where the Digital Operations Platform steps in to help life sciences companies tackle critical challenges. Required to comply with 21 CFR Part 11, the FDA's regulations for electronic documentation and electronic signatures, these companies need “validated” ERP systems that properly record and track how these solutions are implemented. The law applies to drug makers, medical device manufacturers, biotech companies, biologics developers, contract research organizations (CROs), and other FDA-regulated industries. It ensures that companies implement good business practices when using electronic records and signatures in lieu of paper records and handwritten signatures. All life sciences companies must provide evidence throughout the lifecycle of implementation—and even post-implementation as a system is modified—of exactly which changes were made and why. “The controls and visibility tracking and how we manage the validation process as part of the implementation is very inherent to our solution and one of its key strengths,” said Srinivas. “When the FDA walks in, the life sciences company must be equipped to answer all of its questions regarding the ERP implementation.” Jade Global with Oracle NetSuite Give Life Sciences Companies the Gift of Speed, Agility, and Scale