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Active planning for life sciences

Companies across the fields of biotechnology, pharmaceutical sciences, medical devices, and medical diagnostics are taking a new approach to budgeting, planning, and reporting to make smarter financial decisions faster.

Our role is to make sure we have the financial runway to carry out our company’s mission.

Bryan Williams, Associate Director, Strategic Planning and Analysis

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Model clinical scenarios and other parts of the drug development cycle in Adaptive Insights

Model your business as it evolves

With growth comes complexity. As you bring drugs and devices to market, you need to plan for commercial readiness. Model and forecast scenarios across product mix, distribution channels, discounts and rebates offered, or model the options between R&D and acquisition. With Workday Adaptive Planning, you can make faster decisions and engage business users with powerful modelling for budgeting, forecasting, and planning. You can also model integrated P&L, balance sheet, and cash flow statements to see the impact of your decision on gross-to-net and cash.

Continuously forecast to gain business agility

In a volatile environment, you need to keep an eye on the financial health of your pharmaceutical or biotech company. With Workday Adaptive Planning, you can implement a rolling forecast that allows your executives and department leaders to gain business agility in a rapidly changing industry. For example, your team can analyse the impact on the 12-month cash flow before starting a new project. Quickly update and analyse the forecast when project timelines change. Analyse and adjust sales forecast by drugs or devices and see the impact upstream and downstream in real time.

Discover how Workday Adaptive Planning handles modelling and reporting for life sciences organisations.

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Deliver timely reports efficiently

The financial and operational reporting requirements can seem overwhelming for life sciences companies. Our easy-to-use reporting functionality helps you quickly generate financial, management, and ad hoc reports so you have more time to analyse the data. Use the drag-and-drop feature to report across multiple dimensions and drill down and across to the details. Increase collaboration and transparency with your entire organisation by sharing notes even on the transactional data.

Make smarter decisions with analytics

When everyone in your company—from executives and department leaders to scientists and clinicians—has access to analytics they can understand and use, your company’s performance improves. With Workday Adaptive Planning, you can provide analytics that are best-suited for the end user with dashboards, data visualisations, forecasting models, and charts that are easy to create, personalise, and share securely. Empower your functional teams to analyse project costs, personnel expenses, vendor spending, pharmaceutical sales revenue, and more so you can make the right business decisions quickly.

With Workday Adaptive Planning, we achieved a better budget process at a fraction of the cost compared to the millions of dollars and years of investment spent maintaining the on-premise solution.

Mark Powers, Sr. Finance Manager, Boston Scientific

We'd love to talk with you about how we've helped other life sciences organisations.

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