Worldwide Clinical Trials Selects Anaplan for Revenue Management Cycle
Anaplan Provides a Single Intelligent Global Data Source
San Francisco – September 10, 2013 – Worldwide Clinical Trials, a leading Clinical Research Organization that provides drug development services to the pharmaceutical and biotechnology industries, has chosen Anaplan to manage its global revenue management and reporting cycle.
“Before we implemented Anaplan, it was almost impossible to consistently combine project-level data for hundreds of global projects into something that could be analyzed strategically, efficiently and on a timely basis,” said Everett Truitt, CFO of Worldwide Clinical Trials. “Our revenue recognition was fine, but we spent too much time coordinating, proofing, version-controlling and consolidating hundreds of spreadsheets. There wasn’t enough time left for strategic analysis of our bookings, backlog and revenue variance analyses. Now, with Anaplan, it’s all in one system. It’s amazing how much more quickly we can analyze, verify and filter out the noise. Anaplan enabled our finance team to report with more confidence and strategic insight, and we have time left over to tackle other important areas.”
“We have good, hard-working and conscientious employees,” said Truitt, “but updating, consolidating and proofing millions of cells monthly in a global spreadsheet environment isn’t just time-consuming; it’s stressful on relationships.” With Anaplan, what use to take three days to verify can now be done in a few hours. “I use to spend 80% of my reporting time accumulating and verifying data,” said Truitt. “Now that time is used for strategic analysis. It’s been huge for us.”
WCT is expanding its Anaplan revenue-reporting program into revenue management, contract management and other important areas of the revenue cycle. After that, the company expects to use Anaplan for resource planning, full financial forecasting or another strategically significant application. Truitt says, “Anaplan changed everything, and it worked well quickly. I’m excited to move forward with Anaplan and confident that more game-changing breakthroughs are on the horizon.”
“Worldwide Clinical Trials has built a competitive advantage around how it manages revenue on a global scale,” said Fred Laluyaux. “Anaplan’s disruptive technology allows them to be truly connected, providing one central location to manage all aspects of financial planning and analysis, and the trust and visibility in projects worldwide required for accurate forecasting and insight.”
Today, Truitt will be speaking at the IE Group Financial Forecasting & Planning Innovation Summit in Boston, MA on “Providing Strategic Guidance vs. Compiling It – Flip the 80/20 Rule.” The Financial Forecasting & Planning Summit brings together the largest gathering of finance executives leading FP&A initiatives, offering unique insight into the innovations that are driving success in their companies.
About Worldwide Clinical Trials
Worldwide Clinical Trials balances science, medicine, operational and commercial intelligence with strategic insight to manage important drug development programs in nearly 60 countries. WCT combines recognized therapeutic expertise – most notably in central nervous system, cardiovascular and oncology clinical trial methodologies – with robust global operating and technology platforms, consultative leadership and a deep commitment to each client’s unique needs to foster successful development of life-changing medicines. For more information on the company’s Phase I-IV clinical trial services, visit wwctrials.com.
Anaplan is a cloud-based, in-memory modeling and planning platform for finance, sales, and operations. Its applications enable business users across organizations to intuitively and dynamically test and operationalize their plans, manage complex multi-dimensional models, collaborate across functions and regions, and share insights and content via the built-in community.
Anaplan and its partners have introduced a series of packages for finance, marketing, operations, human resources, as well as a complete sales performance management application suite, which includes quota, territory and commissions management, real-time quote, and price optimization.
Anaplan is funded by Granite Ventures, Shasta Ventures and Meritech Capital Partners. Anaplan was awarded the Gartner Cool Vendor Award in 2012 and Ventana Research Technology Operational Innovation Award for Sales Management in 2012. To learn more about Anaplan, please visit www.anaplan.com or on Twitter: @anaplan