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Background
Our client, with more than 1,200 employees worldwide, is a pharmaceutical and biotechnology company specialized in the discovery and development of small molecule medicines focused on inflammation, fibrosis, and other conditions.
Challenge
Over the last few years, our client has grown rapidly and is undergoing a major transformation from research to global commercial biotech pharmaceutical company. This transformation leads to new information needs, rapidly changing reporting requirements, and mandatory organizational changes that require redefining financial processes and data intelligence solutions.
Approach
After an initial analysis of requirements, architecture, and governance needs, we assisted our client in its finance transformation program by iteratively implementing a fully integrated corporate performance management solution. This solution automated a series of financial processes such as management reporting, budgeting and forecasting, and financial consolidation cycles.
Key results
Benefits
Our client now has a fully integrated solution that automatically integrates all management information, and consolidates and significantly reduces financial closing cycle times. The solution provides full ownership to the finance department, resulting in increased reporting flexibility. The department can quickly respond to all types of business inquiries and become a true and valuable business partner.
Technology partners
Tagetik
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