NetSuite and Eureka Solutions provide a winning formula for Sapio Sciences lab tech

Sapio Sciences is a leading provider of Laboratory Information Management Systems (LIMS), Electronic Lab Notebooks (ELN), and scientific data management solutions, serving life sciences, biotechnology, and pharmaceuticals industries in the AI Generation. Founded in 2004, Sapio focuses on delivering innovative and configurable cloud-based platforms to streamline research, development, and laboratory processes. By enabling organisations to manage their data more efficiently and accelerate scientific discovery, Sapio has become a trusted partner for companies seeking advanced, scalable solutions to complex lab and data management challenges helping them to be AI ready. Known for its flexibility and customer-focused approach, Sapio’s technology helps drive improvements in laboratory efficiency, compliance, and data integrity across the globe.

WHAT WERE SAPIO SCIENCES’ CHALLENGES?

The company faced significant challenges in its existing setup, relying on two separate QuickBooks instances and several spreadsheets to manage finances across their six business entities. As Sapio Sciences grew, this approach was at risk of becoming inefficient and prone to errors, particularly within intercompany accounting. Transferring funds manually between entities and across different systems increased the risk of mistakes—both in keying errors and in the likelihood of double-counting. The combination of QuickBooks and Excel spreadsheets, although manageable up to a certain size, was unable to scale with Sapio’s evolving financial needs as a high growth business. 

Revenue recognition—a critical process for any SaaS company—was handled manually through spreadsheets, leading to inefficiencies, data discrepancies, and a higher likelihood of error. Each month, the finance team had to manually input and verify large volumes of data, making their workload unsustainable as the company expanded. This manual, fragmented process also made it difficult to achieve consolidated financial visibility, complicating audits and leading to prolonged and error-prone auditing procedures.

By seeking a more robust financial management solution, Sapio aimed to eliminate these inefficiencies and equip their team with the tools needed for its continued high growth.

SELECTING A SOLUTION

At this stage, Oracle NetSuite emerged as the clear and only choice for Sapio Sciences. With the team’s deep familiarity and trust in the platform—having implemented it successfully in the past—both Sapio’s CFO and Financial Controller were confident in NetSuite’s capabilities. As CFO, Gordon McCall noted, “It’s easy to forget just how effective and intuitive NetSuite is until you use it again.”

NetSuite was the trusted solution they knew could handle the unique complexities of their multi-entity SaaS business. With its robust cloud-based financial management system, NetSuite was ideally suited to meet Sapio’s needs, from intercompany accounting to streamlined revenue recognition, far surpassing the limitations of QuickBooks and spreadsheets.

Paul Zarifa, Financial Controller at Sapio Sciences, emphasises the importance of partnering with Eureka Solutions, one of the UK’s premier Oracle NetSuite Partners, saying, “What really made a difference with NetSuite wasn’t just the software—it was the team behind it. Having experts who truly understood our business needs made all the difference.”

CFO Gordon McCall agrees with this sentiment, adding, “Working with Eureka Solutions was key to the success of our NetSuite implementation at Sapio. Both their product and industry knowledge made the transition smooth from start to finish.”

To enhance the NetSuite implementation, Eureka Solutions leveraged their in-house integration platform, Besyncly, to deliver a seamless, customised solution. Through bespoke development, Eureka Solutions successfully connected Sapio’s CRM system, Veloxity, with NetSuite, enabling the smooth creation of sales orders, projects and customers within NetSuite directly from the CRM. This tailored integration resolved a critical need for efficient, unified data flow between systems, significantly optimising processes and ensuring a streamlined experience.

THE RESULTS

NetSuite has completely transformed Sapio Sciences’ financial operations, streamlining and automating processes that were previously time-intensive and error-prone, equipping the team with powerful tools to support ongoing rapid growth.

The adoption of NetSuite Fixed Assets, ODBC (Open Database Connectivity), and OneWorld for additional country support has allowed Sapio Sciences to achieve unparalleled accuracy, scalability, and real-time data across its global operations.

Since implementing NetSuite, Sapio Sciences has seen over 80% revenue growth between 2022 and 2024, with substantial improvements in both process efficiency and scalability.

Despite significant growth, the finance team has successfully maintained operations with fewer hires than originally anticipated, thanks to NetSuite’s automation capabilities. By replacing QuickBooks and manual spreadsheet tracking, the team has streamlined processes and improved efficiency. As Paul Zarifa, Financial Controller at Sapio Sciences, highlights, “With NetSuite, our financial data comes together in real-time, automatically assigning transactions to the right entities. Everything is so much more accurate, with the added bonus that the data is also fully auditable; we’ve now got confidence and peace of mind in our financial reporting.”

NetSuite’s financial modules have drastically reduced time spent on key accounting tasks:

• Revenue recognition: Cut from half a day using spreadsheets to just 20 minutes in NetSuite, allowing the finance team to handle complex, multi-entity revenue recognition with only a few clicks.
• Consolidated P&L reporting: Streamlined from half a day in QuickBooks to just 20 seconds in NetSuite, enabling fast, reliable, and seamless financial consolidation.
• Month-end close: Reduced time to close by 67%, moving from a three-week process with QuickBooks to only around one week in NetSuite, freeing up valuable time for forward planning and re-forecasting.

The efficiency gains extend beyond core accounting tasks, with NetSuite OneWorld allowing Sapio to expand easily into new geographical territories, confident in the reliability and auditability of their financial data.

Reflecting on the transition to a fully cloud-based system, McCall commended NetSuite’s architecture for empowering real-time data access and seamless collaboration across dispersed teams, noting it as an unexpected benefit, “NetSuite enables our team, no matter where they’re located, to work together effortlessly. It provides financial data that is both traceable and instant, allowing us to make well-informed, real-time decisions.”

These enhancements have not only enabled the finance team at Sapio Sciences to operate with greater speed and accuracy but have also created a foundation for continued growth and expansion. The visibility and traceability of financial data within NetSuite empower Sapio’s leadership team to make informed, real-time decisions with complete confidence in their data’s accuracy and integrity.

BENEFITS REALISED

• 50% fewer finance hires than would have been required on old system
• 50% less time to complete revenue recognition
• 20 seconds to create consolidated P&L
• 67% reduction in month end close
• 100% elimination of spreadsheets and manual processes from core accounting tasks