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Sage Intacct for Biotech Industry

Sage Intacct is the cutting-edge cloud finance platform to drive the next phase of expansion for your pharma and biotech operations. Implement automated solutions to accelerate financial close cycles, handle complex revenue recognition standards, and reduce compliance costs with a regulatory-ready ERP software. 

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What is Sage Intacct For Biotech Industry?

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Sage Intacct for biotech industry is the next-gen cloud ERP solution that simplifies financial processes for biotech companies, giving them the strategic edge with total spend visibility to optimize costs across research, manufacturing, compliance, sales, and procurement. 

Sage Intacct offers unparalleled flexibility to customize workflows across the quote-to-cash cycle. It ensures compliance for auditing & financial reporting, consolidates multi-entity operations, and achieves seamless data flow by connecting with best-in-class solutions. 

Offering real-time visibility, Sage Intacct empowers finance by managing multi-year R&D spending, CDMO contracts & automating currency conversions for global transactions. Flexi modules & robust built-in controls make Sage Intacct a solid choice for FDA-compliant biotech manufacturing. 

Core Capabilities of Sage Intacct for Biotech Financial Management

Smart Financial Reporting

Dive deep into your data with over 150 prebuilt reports at your fingertips. Track metrics across clinical trial projects, products, markets, and factory locations. 

Compliance & Traceability

Automate workflows in compliance with FDA 21 CFR Part 11 and GMP, and reduce manual errors & bottlenecks. Maintain detailed audit trails to track user actions & changes. 

Multi-entity Consolidations

Consolidate global biopharma operations for a clear financial view across R&D, manufacturing, and sales. Reduce overheads by simplifying inter-company transactions & multi-currency accounting.

Fulfill Orders Faster with Sage Intacct for Wholesale Distributors

Lead your wholesale and distribution business with unparalleled efficiency and precision. Move beyond disconnected systems and experience true cloud accounting with Sage Intacct. 

Make reporting flexible 

Come out of tiresome spreadsheet compilation with Sage Intacct’s multi-dimensional chart of accounts. Simply tag transactions by project, department, or location to get specific reports instantly. 

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Keep project costs in check

Manage project costs, track revenue, and monitor timelines across drug development and batches. Ensure financial visibility and control for every CDMO project from early research to full-scale manufacturing.

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Streamline billing workflows

Automate charge capture, milestone-based invoicing, and compliance documentation for faster order-to-cash cycles. Prevent revenue leakage by ensuring all batches and services are billed correctly and on time. 

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Experience true cloud accounting 

Empower your teams with anytime, anywhere access to a secure, cloud platform. Give mobile access to enable remote work and deliver a smooth user experience on the go. 

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A system that keeps you connected

Benefit from Sage Intacct’s strong integration capabilities for easy pairing with third-party applications like laboratory information management and quality management systems.

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Raise Your Profit Margins with Sage Intacct for Pharmaceuticals & Biotech Companies

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Why is Sage Intacct the Leading Cloud Finance Solution?

Discover the key reasons why biotech and pharma companies prefer Sage Intacct to streamline their financial management.

Sage Intacct Others
Cloud-native ✔️ ✔️
Multi-entity Global Consolidations ✔️ ✔️
Dimensional Accounting ✔️ ❌
Pre-configured Industry-tailored Functionality ✔️ (Tailored for diverse industry needs) ❌ (Lacks industry focus)
User Interface Modern, intuitive & user-friendly Complex (Requires a deep learning curve)
Deep Integration Capabilities Robust integration with third-party tools Limited integration
Level of Customization Highly customizable to meet your unique business needs Limited customizability
Updates Frequently updated Infrequent & delayed updates
Industry Focus Small, medium, and large enterprises Primarily large enterprises with substantial funding

Advantages of Sage Intacct for Biotech Industry

Advantage of Sage intacct in biotech industry

Sage Intacct is a sophisticated solution that makes your biotech operations highly productive by automating routine accounting tasks, saving time and resources for innovation and growth. 

  • Enable automatic routing and tracking with digital approval sign-offs on transactions.
  • Forecast revenue growth and cash flow to optimize your working capital and support expansion. 
  • Keep track of grant funds by project and activity, and generate accurate, easy-to-understand reports for stakeholders.  
  • Manage project costs across multi-phased clinical trials to achieve higher ROI & more efficient resource allocation. 
  • View real-time financial information and reports for every research initiative and subsidiary. 
  • Standardize accounting processes and compliance across all your international locations.

What Role Does Sage Intacct Play in Driving the Success of Biotech Companies?

Sage Intacct is a highly flexible solution with robust features to handle complex financial tasks. With this ERP software for biotech industry, biopharma manufacturers can monitor R&D, trials, and manufacturing costs, automate billing processes, and perform “what-if” scenario planning to drive strategic decisions, among other capabilities. 

1. Financial Insights

Closely monitors cash flow to keep your expenses within sanctioned budgets. Gives an in-depth view of your company’s financial performance. Generate custom financial reports to track KPIs that matter most to you. In short, Sage Intacct is your complete financial management solution.

2. Billing and Payment Automation

AP and AR automation enables you to process payments faster while minimizing billing errors, allowing your team to focus more on core activities. Faster, error-free payments and accuracy in invoicing improve supplier and customer relationships.

3. Inventory Control

For a biotech company, inventory purchase and stocking requirements can significantly vary depending on whether you are buying equipment and APIs for R&D, clinical trials, or manufacturing. This biotech ERP software aligns exactly with your inventory management needs.

4. Project Management

Only a program manager knows how complicated it can get to monitor project costs, deadlines, and regulatory approvals, especially with hundreds of products and raw materials involved. No matter the complexity, Sage Intacct simplifies it for you.

5. Regulatory Compliance

A biotech company in India must adhere to various regulations, whether it is CDSCO guidelines for safety and efficacy or DBT regulations for R&D. Confidently comply with legal, accounting, operational, and environmental standards with this life sciences and biotech ERP solution. 

6. Supply Chain Management

For a smooth supply chain, biotech and pharmaceutical companies must align their operations, taking into account the market demand, raw material purchase, production capacity, inventory, and distribution. Sage Intacct simplifies decision-making by offering a granular view of costs across every stage of the supply chain.

Empowering Your Business with
Industry-Focused Solutions

Financial Services

Bring financial clarity and improve audit-readiness

Biotech Industry

Empowers the intelligence that drives better decisions

Professional Services

Get quick insights and elevate business performance

Wholesale Distribution

Optimize inventory flow and reshape distribution network

SAAS

Manage subscriptions, and maximize your revenue

Entertainment Industry

Optimize your resources, and scale business success

Healthcare Industry

Improve operational efficiency and manage business costs

Franchise

A unified system to improve visibility & consistency

Hospitality Industry

Deliver seamless experience and maximize your revenues

Frequently Asked Questions

Sage Intacct is an all-inclusive financial and project management suite with custom features for biotech and pharma companies. From simple cost monitoring to complex billing and cost allocation, Sage Intacct ERP for biotech industry efficiently manages everything. Get rich financial insights and dimension-level tracking for all your transactions from a centralized, cloud-based ERP software. This means that you can analyze business performance from multiple perspectives.

Whether you are a biotech startup or a publicly listed organization, whether you are a contract research organization (CRO), a large contract development and manufacturing organization (CDMO) or a contract manufacturing organization (CMO), Sage Intacct biotech and pharma ERP software has the right capabilities to ensure your success at every level of your business.

Sage Intacct fits in well with both. Most importantly, Sage Intacct is built to scale with your business volume. No matter what stage you are at in your growth journey, Sage Intacct provides you with all the right tools to make your journey smooth. Get comprehensive audit trails for your investors and auditors, and make financial decisions with confidence.

With the use of AI, Sage Intelligent Time gives each team member a time assistant that suggests time input cards based on their calendar, emails, and other activities. Through machine learning, the time assistant becomes increasingly intelligent and consistently enhances the speed and precision of your team’s timesheet. This smart feature improves accountability and productivity.

Accuracy, automation and customisation are essential components of a successful financial reporting solution, all three are areas in which Sage Intacct financial reporting shines. Reports can be grouped and sorted in almost any way by utilizing the general ledger’s dimensions. When done correctly, financial reporting can give your financial staff the information they need to shift from being overburdened with administrative duties to concentrating on strategic planning. Sage Intacct can manage your needs, whether you’re automating project reports for your project managers or generating numerous profit and loss reports.

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