Integrated financial planning for pharmaceutical companies – efficiency & real-time reporting
From Excel to real-time reporting: Why pharmaceutical companies should rely on integrated financial planning now!
The pharmaceutical industry is characterized by complex supply chains, regulatory requirements and high pressure to innovate. Financial transparency and forward-looking planning are therefore essential in order to remain competitive.
However, many companies are still struggling with lengthy planning processes characterized by Excel battles and endless email coordination. These inefficient workflows cost valuable time that could be better used for strategic decisions and targeted measures.
Integrated financial planning combines operational and financial processes, automates workflows and improves data quality – a real game changer for pharmaceutical companies.
Why is integrated financial planning so important?
Traditional financial planning is fragmented in many pharmaceutical companies: Different departments – from sales to production to controlling – work with isolated systems and Excel spreadsheets. This leads to:
- Lack of transparency: Financial data and operating figures are often not synchronized.
- Lengthy planning processes: Manual coordination slows down the entire planning cycle.
- Lack of real-time analyses: Decisions are based on outdated or incorrect data.
The result? Massive efficiency losses that have a direct impact on the company’s performance. Because instead of reacting agilely to market changes, teams spend countless hours consolidating data and correcting errors.
These problems can be solved with integrated financial planning. The combination of operational planning, financial planning and reporting in an all-in-one solution offers clear advantages.
The three pillars of integrated financial planning
- Operational planning as a basis
Precise financial planning begins with sound operational planning. This involves integrating various business processes, including:
- Sales forecasts: Forecasts for sales and turnover as a basis for production and financial planning.
- Capacity & personnel planning: Ensuring that machines and personnel are optimally utilized.
- Budgeting & cost planning: Linking operational key figures with financial effects.
Practical example:
A pharmaceutical company plans the sales of its products and then adjusts production and personnel requirements accordingly. Thanks to integrated financial planning, this data flows directly into budgeting – without any manual detours.
- Financial planning & consolidation
After operational planning, the transfer to classic financial modules takes place:
- Profit and loss account (P&L): Revenue & expenditure forecasts.
- Balance sheet planning: mapping of assets, liabilities and equity.
- Cash flow planning: ensuring liquidity & cash flows.
The link between operational and financial planning makes it possible to identify bottlenecks or overcapacities at an early stage and take quick countermeasures.
- Automation & real-time reporting
The use of modern planning tools such as Board offers further advantages:
- Automated data aggregation: Instead of merging manual Excel tables, all relevant data is integrated directly from the source systems.
- Real-time analyses & dashboards: Managers have up-to-date insights into key financial figures at all times.
- Scenario analyses & forecasting: Various market developments can be simulated and well-founded measures derived.
An example:
A pharmaceutical company can use the software to simulate the impact of rising raw material prices on the P&L and cash flow. This allows measures to be taken at an early stage to minimize risks.
The advantages of integrated financial planning for pharmaceutical companies
- Time savings & efficiency: Planning cycles can be shortened by up to 50 %.
- Better decisions: Real-time data enables sound, data-driven planning.
- Higher forecasting accuracy: AI-supported analyses improve forecasting processes.
- Seamless collaboration: All departments work on a common platform.
- Regulatory security: Automated compliance checks make it easier to adhere to legal requirements.
How H&Z.digital supports pharmaceutical companies with their financial planning:
As a specialist in business intelligence, planning and workflow, we help companies to transform their financial planning processes and make efficient use of the latest technologies.
- Strategic consulting: Analysis of the existing financial landscape & development of an individual planning strategy.
- Technology implementation: Integration of powerful planning solutions such as Board to automate & optimize financial planning.
- Change management & enablement: We support your team during the introduction of the solution and ensure sustainable acceptance.
Ready for more efficient financial planning?
Contact us at: info@hz.digital.
