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IRVINE, Calif., July 21, 2021 — Peregrine Connect’s NetSuite PSA Add-in for Microsoft Project has been selected by MedPharm to forecast its revenue recognition for ongoing and completed business projects. MedPharm is a world-leading contract development and manufacturing organization (CDMO) providing topical and transdermal product design and development services, delivering robust and innovative research to develop approved pharmaceutical products.
MedPharm’s Obstacle
MedPharm’s challenge was that their projects can be very lengthy and complex from a scheduling standpoint. They used Microsoft Project early on as their project scheduling tool and to understand segments of their business from a cost standpoint. When they chose to switch their existing ERP system to NetSuite PSA it was essential to leave Microsoft Project in place and seamlessly integrate with it. Attempting to build out the Microsoft Project functionality into NetSuite PSA would be impractical, time consuming and cost prohibitive.
"The game changer was that other vendors said "Yes, we think we can do it," but NetSuite told us that Peregrine Connect has "Already done it!" said Andrew McWaters, VP of IT, MedPharm.
Peregrine Connect’s NetSuite PSA Helps Overcome Complexity to Increase Operational Efficiency
MedPharm’s solution was to utilize Peregrine Connect for its expertise in Microsoft and integration experience. Peregrine Connect was able to provide its existing NetSuite PSA Add-in tool to synchronize with Microsoft Project. Implementing the NetSuite PSA Add-in to Microsoft Project was completed in less than three months, which met MedPharm’s aggressive timeline. MedPharm was extremely satisfied with the resources provided to them during the implementation phase, noting that Peregrine Connect’s support team was a huge part of their success.
"The support we received from Peregrine Connect has been over the top, and I’ve been in software for over 30 years. It’s been extremely refreshing to see!" said Andrew McWaters, VP of IT, MedPharm.
Business Values:
- Cut manual labor by 80% to determine revenue recognition
- Automated revenue forecast process saving MedPharm close to 100k a year
- Dramatic time savings for Project Management and Accountant teams
- Project Managers and Accountant can accurately forecast monthly revenue by over two weeks
- Increased overall productivity and reduced labor, resulting in doubling of their EBITDA
About MedPharm:
MedPharm is a world-leading contract provider of topical and transdermal product design and development services. They utilize unique, cost-effective performance testing models to mitigate risk and accelerate development times. From its roots at King’s College London, MedPharm has grown into a thriving organization in the UK and the US. Providing services from API to clinical batch supply, MedPharm is a well-established and world-renowned leader in dermatological, nail, eye, airway, mucosal membrane, and transdermal product development. For more information, visit: https://www.medpharm.com/en/
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