Case Studies > Velosio Prescribes Successful Solution For Biostorage Technologies

Velosio Prescribes Successful Solution For Biostorage Technologies

Company Size
200-1,000
Region
  • America
  • Europe
Country
  • Germany
  • United States
Product
  • Microsoft Dynamics GP
Tech Stack
  • ERP
  • Sales Order Processing Module
Implementation Scale
  • Enterprise-wide Deployment
Impact Metrics
  • Customer Satisfaction
  • Digital Expertise
  • Productivity Improvements
Technology Category
  • Application Infrastructure & Middleware - Data Exchange & Integration
  • Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
  • Life Sciences
  • Pharmaceuticals
Applicable Functions
  • Business Operation
  • Quality Assurance
Use Cases
  • Predictive Maintenance
  • Process Control & Optimization
  • Remote Asset Management
Services
  • Software Design & Engineering Services
  • System Integration
About The Customer
BioStorage Technologies is a global leader in short-term and long-term biomaterials storage, sample management, and cold chain logistics. The company serves a diverse clientele, including global pharmaceutical and biotechnology developers, clinical research facilities, laboratories, and academic institutions. With locations in Indianapolis, IN, and Frankfurt, Germany, BioStorage Technologies has experienced significant growth over the past six years. Their services are critical to the biopharma industry, ensuring the safe and efficient storage and management of valuable biological samples.
The Challenge
BioStorage Technologies experienced rapid growth, making its largely manual invoicing system unmanageable. The company relied on an entry-level accounting package and numerous spreadsheets, which required significant manual effort to process data dumps from their sample-tracking software each month. This inefficiency was unsustainable given their growth rate, necessitating either a substantial increase in administrative staff or an investment in technology to streamline the billing process.
The Solution
Velosio implemented Microsoft Dynamics GP for BioStorage Technologies, designing an import routine to automate invoice creation. This integration allowed the company to streamline its billing process by importing data from their sample-tracking software into the Sales Order Processing module of Microsoft Dynamics GP. The system was customized to handle the company's complex pricing structure and varied customer requirements, such as generating separate invoices for different countries or consolidated invoices for multiple projects. The solution provided a transparent, secure, and easily maintainable database, ensuring accurate and timely invoicing.
Operational Impact
  • The time required to prepare invoices was significantly reduced, with one person now able to complete the process in about a week, compared to the previous requirement of four to five people working all month.
  • The accounts receivable cycle was shortened, leading to improved cash flow and more efficient financial operations.
  • The system provided strong reporting capabilities, delivering real-time business intelligence that BioStorage Technologies relies on for its business and financial operations.
  • The project was completed on time and within budget, thanks to the collaboration between Velosio's consultants and BioStorage Technologies' staff.
  • The company passed external audits with confidence in the security and accuracy of its data, demonstrating the system's reliability and effectiveness.
Quantitative Benefit
  • No additional administrative staff was needed despite 100% growth over the prior year.

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