Life science strategy for your goals and culture.
Management Consulting, Financial Systems Best Practices
We worked with the CFO at a leading global pharmaceutical and heath care products company on a project to standardize financial systems and practices.
His goal was to build a single consistent platform to enable transfer pricing capabilities and tools across the corporation on a worldwide basis. Under the current approach, each country had its own practices and systems resulting in potential loss of profit and tax overpayment.
The company needed to balance competitive product pricing and profitability against the significant risk of being fined millions due to noncompliance with country tax regulations.
Our solution was to provide a combination of international finance, information technology and project management skills, along with previous project experience in setting up global transfer pricing systems.
Over a one year period, our consultant created functional requirements, evaluated and selected a software vendor, hired two implementation consulting firms and conducted a Proof of Concept bringing in the project on time and nearly 50% below budget. The project will save the company millions in inappropriate tax expenses, as well as significantly improve the accuracy of product pricing on a global basis.
Global Product Expansion, Pharmaceutical Company
We worked with the VP of the R&D business unit of a multi-billion dollar health care company charged with global expansion of more than 100 drugs.
The Vice President was under pressure from the CEO to fire his director in charge of global expansion because submissions goals in the new markets were not being met. The VP needed a way to coach his director to success. The team in question lacked the global experience necessary to work with their diverse group of countries.
They needed a way to very quickly transform global expansion units into highly performing teams that would develop a strategic direction and create an attitude of functional and individual ownership and accountability.
Our Change Management Business Process Architect worked as the right hand man to the Vice President and his Director to accomplish this in a short timeframe.
With the help of the new high performing teams, our client company exceeded their annual approved submission goals by 100% where profit margins could be as high as 90%. The director went from precarious job stability to glowing reviews shared with the entire company.