Sage Intacct has provided Marinus Pharmaceuticals with better transparency to its organization.
Marinus Pharmaceuticals, Inc. is a publicly traded, clinical stage biopharmaceutical company dedicated to improving the lives of patients suffering from drug-resistant seizures and neuropsychiatric disorders. With more than $20 million in annual development expenses, the increasing demands of a public company, and the expectation for continued growth, Marinus needed to put in place a more robust accounting solution than QuickBooks.
Like so many companies, Marinus chose to use QuickBooks at the outset. But as Marinus expanded operations, it found that QuickBooks did not meet its needs for internal controls, management reporting, and external reporting:
Marinus needed an accounting solution that would tackle these concerns and also provide controlled access to real-time information to internal and external stakeholders alike.
Marinus has already experienced tangible benefits from Sage Intacct:
As a pre-revenue biotech, while Marinus needed a solution to manage expenses more effectively and to provide robust reporting, it also wanted to implement an accounting solution that could scale to meet its evolving needs – whether additional functionality within the product or from Sage Intacct’s best-in-class partners. Sage Intacct met this important criteria and Marinus has already benefitted by implementing Sage Intacct’s employee expense management and integrating with a payroll solution from EmployeeMax.
In the future, Marinus is considering implementing Sage Intacct’s Inventory module. Ultimately, once Marinus starts to sell its products, it will also use Sage Intacct for revenue and accounts receivable management. In the meantime, Marinus continues to use AcctTwo for ongoing support and consultation. As Mike McNamara noted, “the relationship does not end with the implementation.”
Note: This case study was originally posted as Leap the Pond, Leap the Pond was acquired by AcctTwo in December 2018.