A foundational biotechnology company with a large-scale ventures advancing bioengineering, computer modeling and industrial engineering for more sustainable materials.
Business Challenges
- Disconnected Planning: Siloed planning occurring across Finance, Labs, and Sales team led to forecasting accuracy challenges
- Lack of Centralized Data: Data in multiple disparate systems did not allow leadership to bring together a story leveraging key metrics
- Process and Visibility Gaps: Users did not have standard processes to perform backlog analysis or in some cases visibility to pipeline
- Monumental Effort to Perform Scenario Analysis
Solution
- Anaplan Connected Planning Solution: Consensus-based planning to bring together Lab Project Managers, Sales team and Finance using one
integrated dashboard to make decisions on Backlog & Revenue Forecast - Standard, but Flexible Methodologies: Enabled standardization of forecasting methodologies across the enterprise with data centralization
to allow leadership to see reporting in one consolidated tool - Seamless Scenario Analysis: Developed ability for Finance to quickly assess how changes in Working Capital metrics would impact cash flow
Impact
- Consensus Based Plan: Able to bring together multiple functions with one process to align on final Revenue forecast
- Improved Visibility: Centralized access to data and key metrics such as backlog conversion allows leadership to more accurately forecast
future performance and more quickly make decisions, pivoting if needed - Increased Forecast Accuracy: Use of enterprise system allows users to spend less time doing manual reconciliation and more time on value-added analysis, leading to increased accuracy in forecasts
