With over 350 pharmacies, Genoa’s FP&A team needed a new planning process and platform to scale with its business growth.
Stephanie Weiland, Senior Manager of FP&A, and Matthew Meier, Senior Financial Analyst, discuss how they now take only minutes (rather than a week) to pull together the data to provide their executive team with timely sensitivity analyses and instant insight into risk exposure through scenario planning.
So I went on this journey to figure out who’s the best tool that will fit us, that will adapt with us, that will be flexible in this high-growth environment—but also dynamic enough to move with all the changes in the healthcare industry that impact our business.
We were creating the budget process and it was many, many spreadsheets for all of our locations. And to make a change to any of those things, those underlying assumptions, we’d have to break into every single file and make that change.
One of the best things that Anaplan did for us is when they said, “Hey, how about you give us your data and we’ll show you what we can do with it in a day?” And that was the key selling point for choosing the Anaplan platform.
We had a very successful implementation, and it just transformed immediately into a live product, where we were able to put the tool in the hands of our cost centers.
Matthew Meier: Currently, we’re at about 23 gigabytes worth of model size. We went from the year before, when Stephanie was doing the model, when we were in Excel and had about 200 sites. And each site had its own tab on an Excel spreadsheet. Now, we’re able to kind of do everything dynamically with Anaplan, so any change that we need to make, we can make in one place and it flows across the platform.
Stephanie Weiland: So by having Anaplan, we are able to do those “what-if” scenarios or those risk exposure and sensitivity analyses really fairly quickly, so we can deliver those answers to our executive team. Instead of it taking a week to do, we do it in a few minutes.
And sometimes, if we’re all in a meeting together, we can kind of do it live and get those outputs immediately. And then we’re better equipped to make business decisions faster. One of the immediate wins with having Anaplan and that budget tool in the cloud was version control and security. So that cost center owner only sees what’s available to them and not someone else in the organization.
It really comes down to just understanding what the numbers mean instead of just putting the numbers together. Without Anaplan, there wasn’t enough time to really do that thorough review, to do that deep-dive analysis, to really understand what’s going on behind the numbers.
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