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Case Study

MedPharm

Seamlessly connecting project management with revenue forecasting

“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!””

— Andrew McWaters, VP of IT, MedPharm


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The Challenge

  • Revenue recognition for ongoing and completed business projects
  • Replace QuickBooks Enterprise as their primary ERP to NetSuite PSA
  • Integrate NetSuite PSA with Microsoft Project
  • Better understand segments of their business from a cost standpoint
  • Improve monthly forecast accuracy for three Lines of Business
  • Decrease manual updates through automating import and export of data
  • Create a smarter, less complex system to capture data for end-users

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The Solution

  • Replace QuickBooks Enterprise with NetSuite PSA for real-time Peregrine Connect integration with Microsoft Project for milestone billing and revenue forecasting
  • Changing project status on both applications to qualify revenue earned for projects
  • Implement a platform to improve accuracy of business projections and revenue forecasts
  • Eliminate manual labor with automating status updates on both Microsoft Project and NetSuite PSA
  • Enhanced integration platform to increase productivity by reducing the management and synchronizing of data

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The Benefits

  • Reduced time needed by Project Managers and Accountants to accurately forecast monthly revenue by over two weeks
  • Smooth transition to NetSuite PSA, seamless for Microsoft Project end-users
  • Cut 15 days of manual labor to determine revenue recognition for the month
  • Reduced its labor resources while decreasing the overhead costs significantly
  • Automated the revenue forecast process, reducing manual labor, which saved close to $100K per year
  • Greatly enhanced accuracy of monthly forecasts for the three Lines of Business
  • Dramatic time savings for Project Management and Accountant teams
  • Attained compliance standards by not violating any ‘accounting rules’
  • Increased overall productivity and reduced labor, resulting in doubling of their EBITDA

Read the client story

Company Profile

Based In:
North Carolina
Industry:
Healthcare
Type:
Pharmaceuticals
Employees:
51-200
Founded:
1999
Website: