Biomedical and Bookkeeping Creates Strong Bonds: Interview with Tetratherix
Tetratherix (formerly Trimph) is an NSW-based biomedical company specialising in bonding agents that promote healing. Tetratherix’s technology has a wide variety of medical uses in orthopedics, dental, and plastic and reconstructive surgery. The success of the company’s most recent clinical trials has garnered a lot of attention and a lot of funding from venture capital groups like Ryder Innovation Fund and public and private sources.
Tetratherix was excited about their growth and realised that with growth comes more responsibilities and that keeping track of their financials was crucial in maintaining their growth; Tetratherix needed expert bookkeeping services to ensure that everything was on the up and up and that they were staying compliant. The company needed an expert internal financial team that knew their business and could hit the ground running. Fortunately, Visory was there to help.
We recently caught up with Terence Abrams, Director and Co-Founder at Tetratherix, and asked how Visory’s bookkeeping services have helped solve their back-office challenges.
Thank you for taking the time to chat with us. Let’s start with the basics. Can you tell us a bit about Tetratherix and your role?
Tetratherix is an early-stage biomedical company that has developed a regenerative scaffold for a range of therapeutic indications.
My name is Terence Abrams. I am a Director and Co-Founder and Tetratherix. I come from a Chemical Engineering background, and I have previous experience as a CTO and product manager at two biomedical start-up companies. My role in the organisation is dynamic and includes management of clinical trials, production, compliance, and business development.
How did you hear about Visory, and what sold you on our services?
The selling point for me was the simplicity and oversight that Visory provided. We have previously employed several bookkeepers, but something was lacking.
We never got the transparency we needed to make the most informed decisions on our company’s financials. Plus, the processes weren’t as efficient as we had hoped. However, Visory provided that clarity and accuracy we were looking for, and they showed and supported us to streamline the process.
We are proud of the bookkeeping platform we created for our clients, but what is your opinion on it?
The Visory platform is excellent! The Visory platform enables me to collaborate with my internal finance team and view conversations and documents in one place. The bookkeeping and management reporting service provides myself and other stakeholders and investors in Tetratherix the transparency and insights they require. There is no going back and forth and searching for the question to the answer. It keeps me and my team’s conversations highly organised, and I feel we communicate and plan more efficiently.
How did Visory help solve some of your challenges? Did we help make running your business easier?
Managing a growth stage company requires constant oversight in all aspects of the business, including bookkeeping. Since working with Visory, I have maintained oversight in a far more efficient and productive way through the Visory platform. I have confidence in the Visory team, and if a question arises, it is easy to find the relevant reporting and insights or speak to one of their experts to find the resolution. It has afforded me more time to concentrate on other aspects of the business and not spend time performing back-office tasks.
This is great to hear. Just one more question. Would you recommend Visory’s bookkeeping services?
Absolutely! Visory provides efficiency and customer service backed by a great and personable team! I couldn’t be happier, and I would recommend Visory to any growing company without hesitation.