When most people think about treating wounds, maggots aren’t the first solution that comes to mind. But that’s what one innovative company has been using to improve wound management.
For BioMonde(opens in new tab), a Bridgend, UK-based life sciences company, one of its first challenges was education. It needed to overcome some initial fears and convince people of the wound cleansing properties and benefits of larval debridement therapy (or Maggot Therapy) for use on chronic, infected and necrotic wounds.
One of the first private companies to spin out of the UK’s National Health Service, BioMonde’s approach is rooted in ancient practices updated for today’s technology driven world. BioMonde has built state of the art pharmaceutical facilities in the UK, Germany and US from where it manufactures and distributes its product, known as BioBag. The BioBags are then applied to open wounds such as pressure ulcers or diabetic foot ulcers. The maggots produce enzymes that break down only the dead tissue, effectively cleaning out the wound, known as debridement therapy. With alternatives like expensive surgical procedures or antibiotics that are increasingly becoming disease resistant, BioMonde saw its business grow significantly from the day it launched its first product in 2005.
The company then found itself with another challenge. Trying to track sales, order and financial data in not one, but three countries, each with their own highly complex regulations. For example, BioMonde distributes its product predominantly through primary care and the NHS in the UK, with some distribution to pharmacies as well as veterinary operations. In Germany, it distributes directly to hospitals but faces strict requirements about who it ships to and how it tracks products. Its US operations, a newer endeavor that has been growing since it received an FDA license in 2014, works with a complex array of businesses including the Veterans Administration, long term acute care and burn hospitals, and regional hospital groups, all with different requirements.
Its existing combination of Sage and Excel spreadsheets did not give BioMonde’s management the end-to-end visibility it needed. So BioMonde turned to NetSuite OneWorld.
“There was a lack of linkage between the different parts of the organisation,” said Mike Johnson, BioMonde CFO. “When a customer phones up it should be a seamless process from the client placing the order, through the manufacturing process and the Quality Management System to final dispatch and delivery to the client.”
NetSuite OneWorld provided BioMonde with a single system for financial, customer, product and order data and the flexibility to adjust the software to its needs.
“The ability to manipulate data in NetSuite is second to none,” Johnson said.
In the US, with its wide range of customer types, BioMonde is able to account for and run reports on purchasing groups within hospitals, by hospital or by hospital group as well as by sales territory, which could be a city, a section of the city or even an entire state.
“We’re able to slice and dice not just financial data but all the data sales people have captured,” Johnson said.
And that data knowledge capture is critical for the business. “We have built a very bespoke CRM system(opens in new tab),” Johnson said. “With a large percentage of sales, we’re tracking what works and what doesn’t. Our CRM system enables us to dive in and see levels of engagement. How may calls it takes to convert a prospect to an account win. How many calls it takes for a follow up visit.”
That level of detail extends to production as well. With a live product and very specific requirements, forecasting production correctly is critical. With a detailed history that tracks every step from customer orders to production, BioMonde understands the levels of production it required each day.
Room to grow
As the company expands, it may expand its use of NetSuite as well. NetSuite offers the opportunity to track all the inventory that goes into the manufacturing process while NetSuite OneWorld’s global financial consolidation and multi-currency management(opens in new tab) ensures the company can focus on international growth.
Learn more about how NetSuite is helping life sciences companies(opens in new tab).