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Outsourced Accounting that Scales with You
Partner with a team that understands the unique challenges biotech companies face and can give you the financial insight you need.
Outsourced Accounting that Scales with You
Partner with a team that understands the unique challenges biotech companies face and can give you the financial insight you need.
Accounting for Biotech Companies is Simply Different
All businesses deal with some level of risk and uncertainty when it comes to profit. However, those in biotech go into business knowing that profits can be years away due to long, up-front research and development cycles. Whether you are developing new pharmaceuticals, skincare products, fabrics, medical equipment, or gene therapies, you need to invest as much as possible into the science and intellectual property behind your discovery. This means that most biotech companies function with lean back-office teams and often need to find ways to increase their operational efficiencies and streamline their processes.
Additionally, venture capital and outside investors play a massive role in biotech and life science endeavors. Those with a stake in your company have specific reporting requirements so they remain confident that their investment will return the results they expect. Add to that a long list of regulations and other compliance requirements, and you can quickly see how having an accounting and finance team with knowledge of all these factors is not just preferred, it is essential.
Outsourced Accounting for Biotech
At Scrubbed, we have specialized knowledge and experience helping biotech companies with the accounting and financial services they need to run efficiently and meet the compliance requirements specific to your industry. Whether you have a CFO that needs support or prefer to outsource your entire accounting and finance department, we have the team in place to deliver the reporting and advice you require to make informed business decisions. Depending on the stage and needs of your business, we can provide the following services:
- New business planning and accounting system set-up
- Manage day-to-day bookkeeping and accounting
- Build and manage your budget
- Raising and tracking capital investments
- Preparing forecasts and projected statements of income and cash flow
- Research and development credit planning
- Preparing compiled, reviewed, or audited financial statements
- Planning for, and preparation of, federal, state, and local tax returns
- Cost management and budget adjustment
Benefit from Your Partnership with Scrubbed
Increased
Flexibility
Every company has times where staffing needs change. With Scrubbed, you can add team members with the expertise you need to meet changing or increased demands.
Fewer
Disruption
Finding and keeping a team on staff can be cumbersome. Our model is built to absorbs turnover, so you don’t feel adverse impacts when staff members leave or change roles.
Greater
Efficiency
Because we employ a global team of experts, you benefit from the work of a 24-hour shop, which increases productivity and allows you to focus more energy on development efforts.
Less
Investment
Operating with an outsourced accounting team is typically much less expensive and provides more flexibility than finding, hiring, managing, and training your own staff.
Increased Flexibility
Every company has times where staffing needs change. With Scrubbed, you can add team members with the expertise you need to meet changing or increased demands.
Fewer Disruption
Finding and keeping a team on staff can be cumbersome. Our model is built to absorbs turnover, so you don’t feel adverse impacts when staff members leave or change roles.
Greater Efficiency
Because we employ a global team of experts, you benefit from the work of a 24-hour shop, which increases productivity and allows you to focus more energy on development efforts.
Less Investment
Operating with an outsourced accounting team is typically much less expensive and provides more flexibility than finding, hiring, managing, and training your own staff.
Case Study: Rejuvenation Technologies Taps Scrubbed for Daily Accounting and Reporting
“Scrubbed matched up with everything Rejuvenation Technologies was looking for in an outsourced accounting partner,” said Director of Finance and Administration Robin Holbrook. The Scrubbed team’s focus on daily accounting and financial reporting proves a perfect complement to Holbrook’s focus on finance and grants management.
Excited to Support Scientific Advances & Innovation
When working in an industry with so many outside factors at play, as well as the need to remain focused on your research and development, outsourcing some of your rote tasks simply makes good sense. At Scrubbed, we spend time getting to know the companies that partner with us, learn how they prefer to work, and become a vital part of their teams. This is particularly true for those in the biotech space. We understand that staying on top of financial reporting and tax strategy can make or break a company like yours. We are dedicated to creating operational efficiencies while also ensuring that all your stakeholders have the information they need to remain confident that your work will provide an expected return on their investment. And as your company moves from its R&D stage to market, we can add experienced professionals to your team that will evolve with you.
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Download Capabilities Brochure here:
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Want to learn more? Let’s chat about how we can help by managing your day-to-day accounting needs, or taking on a larger financial management role, so you can continue to deliver on your mission-critical goals.
