Sage Intacct provides transparency to Marinus

Like so many companies, as Marinus expanded operations, it found that its legacy software did not meet its needs for internal controls, management reporting, and external reporting:

• Journal entries could easily be overridden
• The chart of account structure required for tracking expenses by department and project was cumbersome
• The financial reporting and budgeting capabilities were very limited and led to time-consuming, manual manipulation outside the application

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.

Finding the right solution

The answer was and is Sage Intacct. Sage Intacct solved all the issues above and delivered a user-friendly interface that everyone in the organization, even those outside the accounting function, found easy and intuitive. Just as importantly, Sage Intacct provided a secure environment with automated workflow that delivered better control over transaction processing and approvals, in a way that is easily audited.

Seeing results

Marinus has already experienced tangible benefits from Sage Intacct:

• Faster period closing
• More meaningful financial reports
• Better control and management of vendors (e.g. CROs)
• Higher satisfaction of internal users
• More efficient preparation of external reports

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 benefited 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 Baker Tilly for ongoing support and consultation. As Mike McNamara noted, “the relationship does not end with the implementation.”