Anaplan managed to create a single source of truth in financial planning at Medsi

CLIENT
Medsi
SECTOR
Pharmaceuticals & Healthcare
GEOGRAPHY
Россия
FUNCTIONAL AREAS
FP&A
PLATFORMS
Anaplan
Anaplan managed to create a single source of truth in financial planning at Medsi

The introduction of Anaplan has made it possible to achieve the strategic goals of the assets of Medsi Group of Companies by planning and optimally allocating financial resources, coordinating the activities of departments, monitoring the achievement of goals and motivating responsible managers at various levels. We have achieved a reduction in the labor intensity and timing of the budget process, as well as improving the quality, reliability and validity of budget information and reporting for making management decisions.

Lubov Pryanishnikova, Head of Budgeting and Controlling of Medsi Group of Companies
01
Business Challenge
Prior to the implementation of Anaplan, this company used Excel© to support its budgeting process. The capabilities of this tool ... Читать дальше

Prior to the implementation of Anaplan, this company used Excel© to support its budgeting process. The capabilities of this tool became insufficient for several reasons: more detailed information was needed for making management decisions as well as simultaneous access for a large number of users (dozens of users by the budget holders).

The company needed an automated financial planning platform that would provide all budget process participants with the opportunity to simultaneously work with a single dataset, single directory and, most importantly, implement the company’s structure and budget formation logic.

02
Solution
Anaplan’s multi-purpose role: Effective business management at all levels – from divisions and branches of the company to senior executives. ... Читать дальше

Anaplan’s multi-purpose role:

  • Effective business management at all levels – from divisions and branches of the company to senior executives.
  • A tool for evaluating financial performance of individual business areas, companies, departments and responsible persons.
  • A Unified data environment for the preparation of budget data and reporting, taking into account the features of the model for each type of activity, including reporting under IFRS.
  • Linking budgets with indicators of production activity for all activities.
03
Business value
The company brought together all participants in the budget process to work on a single dataset and received a “reference” ... Читать дальше
  • The company brought together all participants in the budget process to work on a single dataset and received a “reference” budget repository, thereby eliminating the debate on whose version of the budget is more correct.
  • Significantly reduced the number of budget requests from functional responsibility centers to the head company’s financial services during budget formation and execution. Users from the Central Federal District can now receive budget data from Anaplan in the required sections and groupings.
  • Now we can quickly make changes to support budgets, flexibly change the structure and logic of the model and immediately see the changes in the consolidated budget. This reduced the time for technical manipulation of the budget and brought more attention to the methodology and analytics.