Life Science Services

Outdated Accounting Practices Hold Back R&D Success

# Sabotaging R&D Value? Why Pharma Leaders Must Urge CFOs to Ditch Outdated Accounting Practices # A hallelujah moment for R&D leaders who (secretly) hate finance teams! In small and mid-cap life sciences companies, finance teams are stuck in legacy accounting practices that stifle innovation. Bloated Excel sheets, convoluted explanations, and feedback loops that feel more like interrogations leave R&D teams frustrated and distracted. These outdated processes don’t just waste time—they erode the value of R&D itself. It’s time for non-finance leaders to demand streamlined, transparent tools that support growth, not block it. As a result, the journey from lab to market hinges on the seamless integration of R&D with strategic financial oversight. Below, we explore why CFOs – and stakeholders – must rethink their approach, replacing outdated methods with more modern and integrated solutions to protect and amplify R&D success.

In small and mid-cap life sciences companies, finance teams are stuck in legacy accounting practices that stifle innovation. Bloated Excel sheets, convoluted explanations, and feedback loops that feel more like interrogations leave R&D teams frustrated and distracted. These outdated processes don’t just waste time—they erode the value of R&D itself. It’s time for non-finance leaders to demand streamlined, transparent tools that support growth, not block it.

As a result, the journey from lab to market hinges on the seamless integration of R&D with strategic financial oversight.

Below, we explore why CFOs – and stakeholders – must rethink their approach, replacing outdated methods with more modern and integrated solutions to protect and amplify R&D success.

Shipping IMPs for Clinical Trials in Europe: Best Practices

Shipping Investigational Medicinal Products (IMPs) for clinical trials in Europe is a critical yet complex process. IMPs are unapproved drugs used in clinical trials or Early Access Programs (EAPs) for patients with unmet medical needs. Because IMPs are not approved by regulatory agencies like the FDA or EMA, shipping them across borders involves navigating a maze of customs regulations, value-added taxes (VAT), and specific local requirements. In this guide, we outline how biotechs and biopharmas can avoid common mistakes when shipping IMPs to Europe.

The Importance of Key Objectives for Biopharmaceutical Companies
Understand the importance of key objectives for biopharmaceutical companies in Return on pharmaceutical innovation, improving patient engagement, and upskilling digital skills internally are the keys objectives of biopharmaceutical companies.

Strategic Success Framework – The Rule of Threes

# Biopharmaceutical Success Framework - The Rule of Threes The biopharmaceutical success framework revolves around the Rule of Threes. Our strategic approach drives growth and innovation in the industry. Biopharmaceutical companies can achieve sustainable success by focusing on three key areas. Discover the Strategic Success Framework based on the Rule of Threes: Key Objectives, Organizational Purpose and Critical Areas.

The Importance of Key Objectives for Biopharmaceutical Companies
Understand the importance of key objectives for biopharmaceutical companies in Return on pharmaceutical innovation, improving patient engagement, and upskilling digital skills internally are the keys objectives of biopharmaceutical companies.

The Importance of Key Objectives for Biopharmaceutical Companies

The Importance of Key Objectives for Biopharmaceutical Companies Understand the importance of key objectives for biopharmaceutical companies in Return on pharmaceutical innovation, improving patient engagement, and upskilling digital skills internally are the keys objectives of biopharmaceutical companies.

The Importance of Key Objectives for Biopharmaceutical Companies
Understand the importance of key objectives for biopharmaceutical companies in Return on pharmaceutical innovation, improving patient engagement, and upskilling digital skills internally are the keys objectives of biopharmaceutical companies.

Principles to Guide Organisational Purpose and Long-term Success of Life Science companies.

Organisational Purpose and long-term Goals: Focus on Long-Term Objectives, Stay Connected with Stakeholders, Patients and HCPs, and Leverage Employee Talents for Collaboration and Innovation R&D Value Creation and People

By Rui Manuel Teixeira Three Principles for Success: Building a Purpose-Driven R&D, Value Creation and People Organization To thrive and innovate, small and mid-tier life science companies are seeking to achieve organisational purpose and long-term success thru R&D, Value Creation and People. Focusing on long-term objectives, staying connected with stakeholders and leveraging internal talents is the right strategy. Introduction to Organisational Purpose and long-term success. This blog post explores the fundamentals to guide biopharmaceutical companies towards a meaningful and effective organisational purpose and long-term success. By focusing on long-term objectives, staying connected with stakeholders, and leveraging the talents of your employees, your biopharmaceutical companies will thrive and innovate. In my blog post, “The 3 Critical Key Areas for success for Biopharmaceutical companies are Research and Development (R&D), Value Creation and People.“, I approached the first step on how to implement a successful strategy. Principle #1: Focus on Long-term Objectives “There are only a limited number of things that we, as individuals and organisations can consistently focus on over time. Therefore, it is important to ensure that the things we do concentrate on are the most important.” To achieve long-term success, it’s crucial to prioritise long-term objectives over short-term gains. This principle involves setting clear, strategic goals that align with your organisation’s mission and values. Regularly review and adjust these objectives to ensure they remain relevant and actionable. Initiatives to focus on Long-term Objectives: Principle #2: Stay Connected with Stakeholders “Know the reality of your business, do not get enclosed in an ivory tower.” Staying connected with your stakeholders, patients and health care professionals, is vital for organisational purpose. Engage with them regularly to understand their needs, expectations, and feedback. This connection helps build trust and improve scientific quality which is highly appreciated by PAYERS. Staying connected with Stakehoders is vital to keeping a fresh view of what’s important to Patients. Initiatives to Stay Connected with Stakeholders: Principle #3: Leverage Employee Talents for Collaboration and Innovation “Take full advantage of all the talents and energies of our people – the people reporting to us, staff groups, peers, agencies, whoever is involved in making our business succeed.” Your employees are your greatest asset. By leveraging their talents and encouraging collaboration, you can foster a culture of innovation within your organization. Create an environment where employees feel valued and empowered to contribute their ideas and skills. Biopharmaceutical companies that can attract, engage and retain top talent gain a competitive advantage. Initiatives to engage People #GOATConsultants™-Level Insights: By implementing these three principles—focusing on long-term objectives, staying connected with stakeholders, and leveraging employee talents—biopharmaceutical organisations go towards a clear and meaningful purpose. These strategies will not only help achieve long-term success but also foster a positive and innovative organisational culture. Start applying these principles and watch your organization thrive. The three principles concept were first described by Mr. John E. Pepper’s in 1981. Mr Pepper is a former CEO of Procter & Gamble and under his leadership, the company had one of the most prolific times in its history, not only in terms of revenue but also with people engagement. Ready to discover the Critical Key Areas for success? If you want to know more about Organisational Purpose and Long-term Success, please click here and download our whitepaper.