Good accounting software for midsize biotech company?

Hi, I work for a midsize accounting company and we are looking to upgrade from our current Sage software to something more robust. It must have budgeting/forecast capabilities, audit trail capabilities and T&E integration would be a nice feature to have. I have looked at NetSuite and Microsoft Dynamics, is there anything else out there worth considering? If anybody worked with both NetSuite and MS Dynamics, could you describe pros and cons of each? Thank you.

Answers

Len Green Performance Improvement Consultant and ERP Strategist • August 7, 2015

Anon
It would help if you could provide more details about your needs, here are some aspects that would help your peers here provide quality answers:

1. As a biotech company, are you a start up that is going to manufacture product in due course (i.e. you likely may need manufacturing/distribution with biotech industry specific features) or are you a licensee that will simply earn royalties (i.e. you do not need inventory functionality)?

2. Budgeting-for most modern systems, this functionality is normally either a 3rd party integration with the GL or it is embedded (from a 3rd party budgeting software vendor) as an optional module.

3. Audit trail-can you expand on what you need? All modern systems log every interaction with the system by any user, so a trail can be uncovered.

4. T&E integration-can you expand on what you need? Sometimes you can simply use the AP features to handle this. But, if you have to comply with medical industry regulations (e.g. logging the name of the doctor you took to lunch to discuss your product), then you may need a specialist T&E solution.

Hope that helps.

Len

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