Why Life Sciences Firms Choose RSM Velocity for ERP

Why ERP Matters in Life Sciences

The life sciences industry is always moving quickly, and companies need ERP systems that are reliable and scalable. From shifting regulations to unpredictable capital markets, firms require efficient, low-risk ERP systems to stay compliant and support growth.

Traditional ERP implementations often come with high costs and unnecessary complexity. That’s why many life sciences firms are choosing more agile and affordable options like NetSuite, powered by RSM’s Velocity method. This approach helps organizations stay flexible without taking on the financial burden of long, resource-heavy ERP projects.

Adapting to a Challenging Economy

The financial landscape for life sciences companies is tough. Venture capital and private equity funding have slowed, IPO activity has declined, and M&A deals are shifting toward fewer but larger transactions.

In this environment, companies need ERP systems that can adapt and grow with them. Whether preparing for an IPO, managing licensing agreements, or pursuing acquisitions, NetSuite implemented with RSM Velocity gives life sciences firms the flexibility to adjust quickly.

Moving Beyond QuickBooks

QuickBooks works well for startups, but it quickly becomes limiting as life sciences companies grow. It does not provide the tools needed for multi-entity management, foreign currencies, or strict regulatory compliance.

NetSuite, implemented with RSM Velocity, gives growing companies the structure and scalability they need to manage complexity and expand with confidence.

Tackling Common ERP Challenges

ERP projects can seem daunting – especially if your experience is with older on-premise or Tier 1 systems. Those projects are expensive, risky and take enormous amounts of your teams time. However, even simpler cloud based ERP projects present challenges:

Balancing resources on smaller teams to avoid interrupting day-to-day operations while still moving quickly on an implementation.
Planning for rapid growth while also ensuring processes work for the current state of the business.
Integration complexity can increase costs and slow projects, especially when multiple third-party systems are involved. Minimizing custom integrations and leveraging tools that off off-the-shelf integrations greatly reduces risk and costs.

RSM’s Velocity method is designed to address these issues, creating a smoother transition for life sciences firms moving to NetSuite.

Rapid NetSuite Implementation with RSM Velocity

Unlike traditional rollouts, RSM Velocity makes it possible to implement NetSuite in just six to eight weeks. This faster timeline is especially valuable for life sciences companies moving beyond systems like QuickBooks, which cannot keep up with complex financial and compliance requirements.

Velocity includes:

General ledger setup
Procure-to-pay processes
HR and AP system integrations
Automated workflows that reduce reliance on manual tools

This streamlined setup improves compliance, lowers risk, and creates a foundation that can scale as the business grows.

How RSM Velocity Works

RSM has implemented NetSuite for many rapidly growing life sciences companies. We have taken that experience and built it into preconfigured tools and proven workflows. Velocity is built for speed and scalability and delivers ERP implementations in just six to eight weeks..

Key elements include:

Prepackaged general ledger and chart of accounts
Role-based approvals and vendor invoice workflows
Structured data migration templates
Weekly milestones and clear deliverables
Ability to plug in pre-built RSM accelerators for Sunshine Act Reporting, clinical trial spend management, and common 3^rd party integrations.

By starting projects with much of the setup already complete, Velocity reduces timelines and lowers risk.

Ongoing Support After Go-Live

An ERP implementation is not the finish line. It is the starting point. RSM provides managed services to support:

Adopting new features as NetSuite releases system updates
Report writing
User management

As companies grow, RSM also helps with acquisitions, IPO preparations, and global rollouts, ensuring your ERP system evolve alongside the business.

Why Choose RSM for Life Sciences?

RSM brings more than technology knowledge. With over 1,300 life sciences clients and 1,400 professionals across North America, RSM offers:

Deep industry expertise and compliance knowledge
Support for commercialization and IPO readiness
Long-term partnerships through managed services and advisory

The dedicated life sciences practice at RSM ensures that ERP solutions are tailored to the unique challenges of the industry.

The Bottom Line

Life sciences companies need an ERP system that is reliable, scalable, and adaptable. RSM Velocity for NetSuite offers a fast, low-risk solution that simplifies ERP implementation, supports growth, and helps companies stay focused on their pipeline in a challenging market.

With preconfigured tools, structured processes, and deep industry expertise, RSM provides more than technology. It delivers a long-term partnership for success.