South Australian Medical Research Institute Launches New State-of-the-Art Healthcare Initiative on NetSuite

SAHMRI

"The beauty of NetSuite is you get all the functionality of a very large system without spending a fortune; very easy to use; intuitive; reliable. We love the reporting flexibility." SAHMRI

Company at a Glance

Location:
Adelaide, South Australia
Industry:
Healthcare (first independent medical research institute in South Australia)
Applications Replaced:
Excel, outsourced accounting service

Solutions

NetSuite
NetSuite Financials

Customer Success:

  • As a new public health research organisation created in late 2009, the South Australian Health and Medical Research Institute (SAHMRI) has a single, cross-functional system to handle all core processes and scale as the institute grows.
  • SAHMRI has gained critical per-project financial monitoring and multi-level summary-to-detail reporting across a $100 million AUD annual budget and several hundred medical research projects.
  • Real-time budget vs. actuals and strategic planning support data-driven decisions on projects across seven themes of cancer, heart health, aboriginal health, healthy mothers and children, infection and immunity, mind and brain, and nutrition and metabolism.
  • Strong financial controls and auditability in NetSuite strengthen accountability to funders, including the Australia Health and Medical Research Council, other government agencies, universities, private donors and bioscience companies.
  • SAHMRI is able to commit more resources to mission-critical medical research through lean finance and IT operations made possible with cloud business management.
  • Replacing manual processes, NetSuite streamlines procurement of services and goods, from commodity test tubes to costly and sophisticated medical devices, from as many as 300 suppliers.
  • NetSuite cloud mobility enables an easy transition from SAHMRI's temporary quarters to a new $200 million AUD building scheduled to open in late 2013.

Challenges:

  • SAHMRI needed a cost-effective, proven business platform as it expands its operations, secures more funding, adds researchers to its staff and prepares to move into a new building.
  • Alternative off disparate on-premise systems promised high capital costs and ongoing maintenance burden while posing a risk to organisational efficiency.

Solution:

  • NetSuite went live in July 2011 as SAHMRI scaled up its operations, transitioning from an outsourced accounting service and replacing paper—and Excel-based processes with enterprise-class business management.
  • NetSuite selected as a scalable cloud solution to support SAHMRI's rapid growth, with its workforce expanding from 10 people in 2011 to 600 by 2014.
  • NetSuite was a fraction of the $400,000 AUD cost of a competing SAP solution SAHMRI evaluated; NetSuite delivers full enterprise-class functionality with lower long-term operational costs.