Funding for research and development. Funding for pre-clinical testing. Funding for clinical trials that last for years.
These are some of the key costs faced by pharmaceutical companies before any new drug is presented to the market—it’s no wonder that name-brand drugs often cost an arm and a leg (no pun intended).
With these costs in mind, David Naccarato, senior director of finance, budget, and control for medicine and development, turned to Anaplan to globalize the company’s finance across Europe, U.S., and Japan.
“We started out using [Anaplan] as a consolidator, and now we have rolled out different planning modules so we can globally plan,” shared Naccarato. He added that executives can now also see information across the business instantaneously, whereas previous to Anaplan it took up to four months to pull that same information together.
“What Anaplan has actually allowed is instantaneous feedback and visibility by all levels,” Naccarato said. The next step for his team is to use Anaplan as a “data warehouse,” where all operational, financial, and resource data is stored in one place, giving business leaders a complete picture of the company’s resources to improve their investment decisions.
“On a global stage, you are trying to compete with all of the big pharmas and you have to be faster than them—more agile … and from an investment decision standpoint, that’s what Anaplan allows us to do,” concluded Naccarato.
Hear how the company transformed its planning and budgeting processes by watching the video.