Financial automation software for pharma and life sciences companies
The life sciences and pharmaceuticals sectors are in a constant state of evolution and innovation
But this natural innovation is made more challenging by numerous obstacles: from the perennial and growing reality of national and international regulations to new challenges like supply chain fragility and the mounting complexity and costs of talent and R&D and customer cost pressures.
The sheer volume and complexity of financial activities in the sector contributes to these challenges. And manual processes that take time and are prone to error can significantly burden your teams and compromise your company’s ability to engage in ongoing R&D initiatives, attract and retain talent, and stay ahead of technological advancements. To address these challenges, you’ll need to employ robust financial management strategies to ensure a strong working capital position and optimum financial resilience.
Serrala helps you reduce the burden of financial management on your teams with intelligent AR, AP and payments, and treasury automation solutions that unify your business’s finances, boost decision velocity, and let you apply working capital quickly and accurately to strategic and tactical concerns.
Our software for pharmaceutical and life sciences companies is here
to address the unique requirements of your industry.
Optimizing the Order-to-Cash cycle: Accounts receivable teams trust Serrala
Radically simplify even the most complex transactions, automate invoice posting, get paid quicker and with full visibility and compliance across your entire customer ecosystem.
Our solutions help you to create smooth and reliable AR environment that makes it easy for you to account for all invoices and incoming payments across all formats. Giving your teams and your customers a smoother and more intuitive experience and providing a solid foundation for understanding all your income streams. Putting you in a better position to apply incoming cash directly to R&D without worrying about compliance overheads or manual transactional errors.
What can our AR solutions do for you?
Safeguard your business against legal, data, cyber, and financial risk with minimal overhead. Automated clarification, anti-fraud, and anti-money laundering screening and GDPR reporting provide you with peace of mind in the face of rising costs, supply chain and business model uncertainty, and regulatory complexity.
Our customers can reduce their DSO (days sales outstanding) significantly by automating manual and repetitive tasks. Your people spend less time chasing invoices, and more time adding value.
Our solution provides 400 pre-built reporting KPIs for instant reporting on your cash position – giving you the power to make smart decisions about how to finance new product development and shore up supply chains. Reporting is made simple across your entire invoice-to-cash process, ensuring better financial planning and strategic allocation of working capital where it’s needed.
Our solution lets you know your exact cash position at any time and apply all cash with automated, same-day matching. This means you can make better use of your company’s funds for research and development and the establishment of secure supply chains.
Automate up to 99% of payment reconciliation tasks with our AI-powered workflows. Take complete control of your cash flow process, make immediate cost savings, and recognize and apply revenue faster.
Increase user satisfaction and reducing workloads and fees with automated, end-to-end processing of all bank statements, remittance advice, lockbox, and payment service provider settlements. Reducing workloads, reducing fees, and increasing user satisfaction and performance levels across your AR teams.
Centralise and standardize to improve customer engagement and reduce time to pay with the most comprehensive collections and dispute management solutions available.
Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve customer trust.
Serrala Avelate Bill Pay allows you to present all payment requests through a single online system, making it simpler for customers to pay you – and simpler for you to maintain relationships alongside your business obligations.
Safeguard your business against legal, data, cyber, and financial risk with minimal overhead. Automated clarification, anti-fraud, and anti-money laundering screening and GDPR reporting provide you with peace of mind in the face of rising costs, supply chain and business model uncertainty, and regulatory complexity.
Our customers can reduce their DSO (days sales outstanding) significantly by automating manual and repetitive tasks. Your people spend less time chasing invoices, and more time adding value.
Our solution provides 400 pre-built reporting KPIs for instant reporting on your cash position – giving you the power to make smart decisions about how to finance new product development and shore up supply chains. Reporting is made simple across your entire invoice-to-cash process, ensuring better financial planning and strategic allocation of working capital where it’s needed.
Our solution lets you know your exact cash position at any time and apply all cash with automated, same-day matching. This means you can make better use of your company’s funds for research and development and the establishment of secure supply chains.
Automate up to 99% of payment reconciliation tasks with our AI-powered workflows. Take complete control of your cash flow process, make immediate cost savings, and recognize and apply revenue faster.
Increase user satisfaction and reducing workloads and fees with automated, end-to-end processing of all bank statements, remittance advice, lockbox, and payment service provider settlements. Reducing workloads, reducing fees, and increasing user satisfaction and performance levels across your AR teams.
Centralise and standardize to improve customer engagement and reduce time to pay with the most comprehensive collections and dispute management solutions available.
Automate your credit risk management lifecycle value with AI-enabled processes to help protect your bottom line and improve customer trust.
Serrala Avelate Bill Pay allows you to present all payment requests through a single online system, making it simpler for customers to pay you – and simpler for you to maintain relationships alongside your business obligations.
Transform your Invoice-to-Pay process with Seralla’s AP automation and payment software
Our AP automation and payments solutions help secure your supply chains and optimize cash flow. This gives you the power to understand your current and future position better to secure your supply chain against potential shocks and better allocate capital to strategic projects. While also saving time, mitigating risk, and keeping abreast of all reporting requirements through complete visibility and up to the second data analytics.
Serrala customers report that our solution not only improves their working capital position, but helps them save their teams thousands of hours a year across their invoice management and payment processes, from receipt to posting to vendor reporting.
What can our Invoice-to-Pay solutions do for you?
Quick and accurate cloud-based invoice capture eliminates manual processing for digital invoices. Providing immediate visibility into all supplier spend, along with touchless processing to reduce manual input.
Our software lets pharmaceutical companies view and approve invoices for payment, on any device, at any time. Your buyers and business users can securely review transaction information and perform needed actions on the spot to ensure timely processing.
Your organization can use our solutions to define business-wide rules that increase efficiency and keep information flowing from your payables automation to payment automation. Helping guarantee your supply chain, reduce instability, ensure onward supply, and support a great end-customer experience.
A central hub for payment processing across all your ERP and financial management systems streamlines workflows and improves visibility. Simplify payment processing with workflows that automatically route payment requests for review according to standardized formatting rules. Eliminates the need for multiple redundant bank portals with a solution that centralizes your bank formats and connectivity.
Support your business growth with payables and payment solutions that are enabled for global business demands. Quickly onboard new vendors and handle increasing invoice volumes. Easily meet global payment requirements and banking standards with our managed automation service.
Rule-based checks of your payment transactions make monitoring for fraud, flagging suspicious activity, and preventing double payments simple. This means you’re only spending on the resources your business needs, and nothing can fall through the cracks.
Self-service portals and direct connections to your supplier networks ensure faster receipt, processing, and management of vendor invoices. Connect to bank portals or other payment service providers to centrally manage payments and communications for a streamlined user experience, improved visibility, and enhanced control.
Quick and accurate cloud-based invoice capture eliminates manual processing for digital invoices. Providing immediate visibility into all supplier spend, along with touchless processing to reduce manual input.
Our software lets pharmaceutical companies view and approve invoices for payment, on any device, at any time. Your buyers and business users can securely review transaction information and perform needed actions on the spot to ensure timely processing.
Your organization can use our solutions to define business-wide rules that increase efficiency and keep information flowing from your payables automation to payment automation. Helping guarantee your supply chain, reduce instability, ensure onward supply, and support a great end-customer experience.
A central hub for payment processing across all your ERP and financial management systems streamlines workflows and improves visibility. Simplify payment processing with workflows that automatically route payment requests for review according to standardized formatting rules. Eliminates the need for multiple redundant bank portals with a solution that centralizes your bank formats and connectivity.
Support your business growth with payables and payment solutions that are enabled for global business demands. Quickly onboard new vendors and handle increasing invoice volumes. Easily meet global payment requirements and banking standards with our managed automation service.
Rule-based checks of your payment transactions make monitoring for fraud, flagging suspicious activity, and preventing double payments simple. This means you’re only spending on the resources your business needs, and nothing can fall through the cracks.
Self-service portals and direct connections to your supplier networks ensure faster receipt, processing, and management of vendor invoices. Connect to bank portals or other payment service providers to centrally manage payments and communications for a streamlined user experience, improved visibility, and enhanced control.
Cash management and treasury software
Pharma software solutions for treasury need to be capable of maximizing your working capital while minimizing manual input and keeping visibility and reporting accuracy high for regulatory compliance. Our solutions make all of this simple.
Our cash management and liquidity solutions empowers you to take total control of your cash, plan and forecast your liquidity, and simply and comprehensively manage your accounts and mandates. Helping you keep costs down, anticipate and plan for many possible futures, and ensure your teams have the resources they need to drive strategic initiatives and product R&D.
What can our cash management and treasury solutions do for you?
Get the data you need with simple, intuitive configuration, whatever your teams need to know – no matter your precise product or customer profile, the complexity of your supply chains or regulatory obligations, or what your teams need to know.
Analytics for all account information and cashflow status provide an up-to-the-second picture of your company-wide liquidity. Giving you the power to allocate working capital as soon as it becomes available to maximalize your ROI on R&D activities.
Stay informed of your cash position up to the second, and give your people the confidence to make the investments necessary to drive your success.
Flexibly configure your categories for cashflow-based planning, simulations, and scenarios. This gives you a better idea of how to react in a range of situations from supply chain breakdowns to unexpected market changes.
Our treasury solution gives you the capacity to manage loans, credit facilities, money market instruments, and more with intuitive connections to trade portals, bank accounts, and other services.
Get the data you need with simple, intuitive configuration, whatever your teams need to know – no matter your precise product or customer profile, the complexity of your supply chains or regulatory obligations, or what your teams need to know.
Analytics for all account information and cashflow status provide an up-to-the-second picture of your company-wide liquidity. Giving you the power to allocate working capital as soon as it becomes available to maximalize your ROI on R&D activities.
Stay informed of your cash position up to the second, and give your people the confidence to make the investments necessary to drive your success.
Flexibly configure your categories for cashflow-based planning, simulations, and scenarios. This gives you a better idea of how to react in a range of situations from supply chain breakdowns to unexpected market changes.
Our treasury solution gives you the capacity to manage loans, credit facilities, money market instruments, and more with intuitive connections to trade portals, bank accounts, and other services.
Discover how Serrala AI-powered automation software is transforming the way pharma and life science businesses handle their finances
Medtronic – achieving 96% automation rates for customer and cash accounting flows
Medtronic is a global leader in medical technology, services, and solutions, with 950,000 people working in over 150 countries. The company is committed to accelerating access to healthcare technology.
The company handles over 750 bank statements with over 800,000 transactions per quarter across more than 250 entities and four regions. They sought out a solution to automate their cash application process and, as an existing Serrala customer, chose to do so by rolling out our SAP-embedded FS2 AutoBank solution globally.
The Medtronic team were able to implement their new solution easily across all four global regions in spite of COVID-19 lockdowns and rapidly achieve outstanding automation rates – above 80% in both record-to-report and invoice-to-cash processes. Customer and cash accounting flows are now highly automated across the business, enabling “right first time” cash accounting and immediate customer account updates.
Optimizing our working capital is a core focus for Medtronic, and this is what FS2 does. By applying cash before having breakfast, the solution streamlines the bank reconciliation and cash allocation processes thereby improving our overall liquidity planning. FS2 allows the Medtronic teams to focus on the exceptions and delivering higher automation. The journey to automation really starts now.
Merck – automating credit and receivables management for more robust processes
Merck is a multinational life sciences and technology group based in Darmstadt, Germany, with a presence in 66 countries and around 66,000 employees working across 250 companies.
With credit limits being calculated manually using a time-consuming internal procedure and manually entered into their SAP system – alongside similarly laborious processes for receivables-related disputes and revenue collection – the company sought a best-in-class solution for automation to help manage huge volumes of financial data.
By introducing a comprehensive Order-to-Cash solution encompassing credit and risk management as well as collections and disputes, Merck has largely automated its credit and receivables management, establishing efficient, secure and robust business processes. Not only has the company significantly reduced processing time, but it has also improved transparency and now meets central KPIs.
An end-to-end approach (credits, collections and disputes from a single source) made it possible to ensure the same level of quality throughout almost the entire O2C process.
Industrial pharmaceutical and life sciences software insights
Order-to-Cash solution within SAP
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FS2 AutoBank - Intelligent Cash Application within SAP
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FS2 Collections solution - Boost Performance and Customer Satisfaction
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FS2 AccountsPayable
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