For Pre-revenue, Clinical Pharmaceutical Companies Growth Can Happen Fast, ERP Helps

Posted by John Goode, Senior Director of Channel Marketing
In the decades James Neal spent in systems implementation and consulting for pharmaceuticals, he identified a gap at a critical point in the lifecycle of clinical, pre-revenue pharmaceutical companies. The move from stage 1 clinical trials to stages 2 and 3 happened fast—really, really fast—and followed a trajectory that didn’t really mirror growth in any other industry.
These companies needed robust financial processes and controls at lightning speed. And, for many, the system they chose needed to accommodate global financial processes, as trials for efficacy often occurred in different countries simultaneously. They needed to manage and automate complex purchasing transactions and approval flows in a way that didn’t map to traditional purchase order management. And they needed a platform that would support not only their existing growth, but also scale to accommodate the next stage, which include manufacturing processes, either outsourced or conducted in-house.