Finance transformation roadmap helps $1.5B global pharma company establish vision and plan for future growth

Business Challenges

  • Expanding Project Base – Significant increase in the number of programs, projects, and trials that needed to be actively planned, managed, reported against, and analyzed
  • Linking Operational Plans with Financial Forecasts – Inability to link dynamically changing project-based clinical development plans with financial plans
  • Satisfying All Business Needs – Revenue planning, product costing, and product P&Ls required manual effort, using disconnected Excel models with significant data manipulation
  • Outdated Technology Platform – Foundational platform had not been substantially updated in seven years and no longer supported the evolving business model

Solution

  • Roadmap – Conducted short-cycle planning and reporting assessment to define business requirements, understand issues and opportunities, envision the future, identify key initiatives, and create a go-forward roadmap
  • Technology Upgrade and Enhanced Capabilities – Upgrading the Enterprise Planning Management (EPM) tool allowed for several new business capabilities including automated hierarchy management, enhanced business views, and improved maintenance and support

Benefits

  • Established Vision and Actionable Plan for Future – Future state FP&A vision and go-forward transformation roadmap gave organization clear potential initiatives that would drive business value
  • Reduced Cycle Times – Reduced planning, reporting, and analysis cycle times by significantly curtailing manual efforts and required workarounds
  • System Effectiveness – Drove process consistency, standardization, and automation as well as enhancing system flexibility