An end-to-end solution for clinical trial forecasting and demand planning

Background

As a medical technology company, our client develops, manufactures, and sells medical devices across the pharmaceutical industry. Every day, this global organization interacts with clinical laboratories, healthcare institutions, researchers, and the general public, providing solutions aimed at elevating the wellbeing of their customers.

Challenge

Within the life sciences sphere, connecting research and development to financial planning is often a time-consuming challenge that involves many different functional areas across the organization. Previously, this planning was managed across countless spreadsheets with little to no standardization. Our client needed data-driven insights and flexibility to plan across their clinical demand and resource staffing processes.

Approach

Combining industry expertise with in-depth knowledge of leading business technologies, Keyrus implemented a solution with Anaplan, a cloud-based connected planning tool that helps break down the data silos found within an organization. This platform enabled our client to synchronize financial action and readiness and establish a connected, standardized end-to-end planning solution. Through Anaplan, we consolidated actual and early concept trial management, including site and subject planning, and enabled users with the ability to use cost drivers to allocate expenses using actual and anticipated purchase orders. For complete visibility, we implemented a quarterly reporting process to view trial and program health, including budget status. These reports also allow the client to compare site and subject forecast to actuals, and track target milestone dates. For a truly end-to-end solution, early concept trial management is now connected to clinical demand and clinical trial forecasting.

Key results

Clinical trial data financial reporting is now synthesized into a centralized clinical forecasting solution

Decrease financial forecasting error from over ten percent to single digit margins

Demand and resource planning is significantly eased with better tracking of labor and trial expenses under a single unified platform

Benefits

Through active client engagement and persistent attention to detail, we developed a best-in-class planning solution that is both flexible and user friendly. This solution empowers all employees, from project managers to executives, to easily make real time, data-driven decisions that result in a positive financial impact and increased organizational accuracy.