A true family run business, Medical Research Network (MRN) has been operational since 2006 with a mission to provide a gold standard platform of clinical trial services designed bring trials closer to patients, make them faster, more efficient, more inclusive and more accessible for research sites and patients alike.
Starting as a small business in Milton Keynes, Medical Research Network can deliver services in in 99+ countries and have offices in the US, Spain, Germany, France, Japan and a global head count of around 230 employees.
After becoming a global business, MRN began “needing more from a finance system”, states Alex Prentice, Head of Transactional Finance. When using their previous system, Sage 200 Professional, Alex and the team realised their needs had evolved and things “such as consolidated reporting, better multi-currency capabilities, cloud hosted systems and generally higher capability ceilings became more important”. They also hit limitations when it came to tackling some of their “key business requirements, such as Project Accounting, [Sage 200 Professional] was either very limited or needed third party additions”.
As such the business decided to implement a modern, cloud-based finance platform that will better support the company as it continues to thrive.
Having used Sage in the past, Alex and the team wanted to stay with Sage for the next system. He “quickly found that Sage Intacct handled multi-entities, multi-currency, and more dynamic reporting a lot better, and as requirements from the rest of the business also grew so that Finance as a function could deliver more value, it was clear why the change in system was required”.
Some of the key drivers for the project :
- Deliver a low maintenance, cloud-based platform that will continue to support the business through scale
- Be able support the global business
- Improve the finance function’s efficiency by moving some of the more complex functions ‘in system’, such as Consolidations and Budgets and Planning
- Deliver a more integrated Projects platform that includes access to real time information for the Finance and Project Teams
- Streamline the inventory management process