Business Challenges
- Chart of Accounts (COA) – Existing COA not supporting business needs. Lack of numeric segment values (except Account), missing critical business views (e.g. location), no rollups in segments.
- ERP Environment– Limited financials & procurement functionality. Extensive manual workarounds. Multiple disparate systems. Need for Tier 1 solution w/ upcoming product launch.
- Reporting & Analysis – Manually intensive, time intensive, Excel centric environment. Reliant on data dumps, manual data mapping & groupings. Herculean efforts to produce core reports.
- Budgeting & Forecasting – Heavily dependent on fragmented Excel models. No centralized data repository. Limited integrated “what-if” capability. Rapidly growing modeling & analytic needs.
Solution
- Detailed Business Analysis – Conducted working sessions with key stakeholders to understand the existing A2R, P2P, budgeting & forecasting, & management reporting processes, identify pain points & improvement opportunities, & document key business needs today & tomorrow
- COA & Tier 1 ERP POV – Provided Life Sciences specific COA recommendations including transition plan along with a core set of best practice Tier 1 ERP functional capabilities
- Future State Vision – Introduced business, functional, & technical best practices across ERP & EPM and jointly envisioned an improved finance & FP&A operational & analytics environment
- Strategic Cloud Roadmap -Created a multi-phase roadmap outlining key recommendations, prioritized initiatives, “quick wins”, future state architecture, and necessary process improvements to achieve future state vision
Impact
- Objective Perspective– Provide independent, experienced perspective on the foundational business capabilities & related technology platform needed in advance of product launch
- Catalyst for Change – Created awareness and understanding of the most important challenges and business needs, stakeholder alignment around the top business priorities and future state vision, and a compelling business justification for taking action
- Digital Finance Blueprint – Created clear strategic and tactical “blueprint” for leveraging cloud based solutions for accounting and finance operations, budgeting & forecasting, management reporting, & analytic capabilities through the roadmap & near-term impl. plan
