Today we face our greatest challenge. A challenge that we can’t ignore. A challenge we must get right. A challenge to change things. To truly put people first, to genuinely help them do more, feel better, live longer. To do that, we must challenge ourselves, challenge the entire life sciences industry, challenge the way the world tackles healthcare problems. It’s the only way we will bring about change.
The life sciences industry is changing faster than at any time in its history. Our customers are deploying new strategies in response to these industry trends. One on-going industry trend in the life sciences industry is the time and cost to bring a new product to market, which can often be in billions of dollars and can take up to 10 years to develop and launch. In addition to this the cost of healthcare is not sustainable, thus forcing players to closely scrutinize healthcare reimbursements, putting pressure on manufacturer prices. As a result, life science organisations are rethinking business models to reduce cost, to become more agile, reduce complexity, increased strategic focus and faster responsiveness. Life science companies have embraced outsourcing strategies in research and development, and IT.
Research needs to be more collaborative and personalised, but data is often siloed and insight is often lacking for effective and timely actions. Inefficient, outdated and manual manufacturing systems increase costs, increase compliance risks and impact ability to serve patients. Markets are rapidly evolving with focus on new and less costly processes to engage direct and indirect customer channels. Regulatory complexity is increasing globally and threatens the ability to simplify the operating model.
Is it time for your company to automate the office of finance?
Many modern life science companies are struggling to get a clear picture of performance. As many life science organisations expand to include multiple locations, multiple currencies and various ERP systems, a lack of communication and consolidated information across all borders or entities is a pressing business challenge. Challenging the status quo within the office of finance is the only way we can bring about change to help improve people’s lives.
We’re challenging pharmaceutical and life science organisations. Change from processing manual journal entries to intercompany eliminations and foreign currency exchange accounts. Implement a corporate performance management solution. Automate foreign currency translation adjustments. Automate the preparation and distribution of financial statements, consolidating various financial statements with or without joint ownership applied. We’re challenging your industry to better prepare for disclosure requirements.
This is so that we can help you solve global healthcare problems, faster.
These changes are only possible because of who we are. A business. A business committed to helping others. A business that isn’t just about money; it is about time, our resources and expertise, and how we collaborate with partners. This is just the beginning. There is still more work to do. Together we must go the extra mile. Go beyond the unexpected. Only then will we really change people’s lives for the better.