Within a small organization, accounting can add value to their organization by offering strategic advice on managing resources. Accounting has a unique perspective because it often touches all parts of the organization - research, clinical, human resources and procurement to name a few.
In my experience, there is a steep learning curve to understand how the biotech industry works. Thankfully, there are resources available to gain that knowledge and understanding. If you are looking to get informed in the new year, here are three resources every biotech accountant can use to stay informed:
- LifeSciVC - Bruce Booth is a partner at Atlas Ventures, a venture capital (VC) firm that focuses on seed-stage venture creation and the discovery and development of novel therapeutics. His blog includes in-depth articles focused on the overall market, financing and collaboration trends and other issues facing early-stage biotechs. He also appears in Forbes.
- Endpoints News - Endpoints News is a twice-daily news outlet that has all the days headlines in the biotech industry. A great way to keep up with deals, acquisitions and executive movements within the biotech and pharma industries. It can be overwhelming at first to read the daily news, but after a few months, I was able to start to pick up on trends and connect dots with my day job and what I was reading.
- Cloud Accounting Podcast - Blake Oliver and David Leary host the podcast and chat about technology and accounting. The amount of tools in the market is growing and it can be overwhelming to keep track of everything on your own. With their focus on accounting software, it is a good way to get inspiration on how to make your accounting team more efficient with your software strategy.
Staying informed is a great habit to start in the new year. I would encourage you to commit to spend ten minutes a day reading. Being informed will help you make more informed decisions and help you achieve your professional goals in 2019. Subscribe to my blog below to get helpful articles on issues facing biotech accountants.