Company Background:

Cerebral Therapeutics is a clinical-stage, venture-backed startup in the life sciences space, aiming to be the first company to bring a direct-to-brain delivered epilepsy drug to market. As with many start-up companies, Cerebral Therapeutics is developing a lot of its processes from the ground up, and evolving these as the company grows.

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Client Brief:

When we started with Guy, the company had implemented manual spending processes, from POs generated on Microsoft Word to Excel sheets for tracking expenses. With the growth, the manual processes were no longer sustainable.

After implementing ProcureDesk, Cerebral was able to eliminate manual purchasing and invoicing processes. The company saw significant financial savings by reducing the time and personnel dedicated to these tasks.

Cerebral now has complete spend visibility into their commitments and cash flow needs.

For life sciences companies like Cerebral Therapeutics, it’s essential for management to know the cost of various stages of drug or device development and the overall cost of bringing a treatment to the clinical trial phase. This allows for planning, forecasting, and budgeting for the next drug, device, or indication.