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NetSuite Implementation For A Global Biopharma Client

About Our Client

Discover how dotSolved expertly spearheaded NetSuite implementation for
a leading biopharmaceutical company in the US.

Business Challenges

  • Multiple Entities: The organization operated multiple entities across different regions.
  • Disparate Systems: US and Europe entities were running on different systems with no consolidation.
  • Lack of Secondary Book Accounts: Europe entities lacked secondary book accounts, complicating financial management.
  • Manual Processes: Vendor payments and intercompany transactions were handled manually, leading to inefficiencies.
  • Approval Process Issues: The Financial Approval Matrix (FAM) for journal entries (JEs) faced significant approval process challenges.
  • Integration Challenges: Integrating Zycus and NetSuite systems was a challenge that was not addressed

Our Solution

  • NetSuite SuiteSuccess Implementation: Successfully deployed NetSuite SuiteSuccess tailored to the specific needs of the client.
  • Multibook Implementation for Europe Entities: Deployed NetSuite Multibook to streamline accounting and financial reporting for European entities.
  • Streamlined Intercompany Processes: Established efficient intercompany process flows to enhance coordination and accuracy in transactions.
  • Automated Vendor Payments: Implemented NetSuite Advanced Electronic Bank Payments to automate vendor payments across all entities, significantly reducing manual workload and errors.
  • Automated Journal Entries: Developed workflows to automate journal entries (JEs) based on precise business requirements, ensuring compliance and efficiency.
  • Seamless System Integration: Built robust integrations between NetSuite and Zycus (Procurement System) to ensure a cohesive and streamlined procurement process.

Value Delivered

  • Unified ERP System: All GBT entities now operate on a single, integrated ERP system, ensuring streamlined and cohesive operations.
  • Localized Reporting Capabilities: Enabled the generation of country-specific financial and tax-related reports, enhancing compliance and financial transparency.
  • Automated Intercompany Processes: Successfully automated intercompany process flows, improving efficiency and accuracy in cross-entity transactions.
  • Vendor Payments Automation: Achieved complete automation of vendor payments, reducing manual intervention and errors.
  • Streamlined Approval Processes: Eliminated manual efforts in the Financial Approval Matrix (FAM) for journal entries (JEs), ensuring a faster and more reliable approval process.
  • Seamless System Integrations: Automated integrations between NetSuite and Zycus, facilitating a smooth and efficient procurement process.