Centralized Finance Data Strategy Transforms Reporting for Clinical Research Leader

Streamlining Reporting for Clarity and Cost Savings.

The Client

Established in Dublin, Ireland, in 1990, the client, a global industry leader, is dedicated to accelerating the development of life-saving drugs and devices. With a relentless focus on quality, they offer unparalleled consulting, development, and commercialization services across 53 countries. Their expertise spans diverse therapeutic areas, including medical devices, oncology, and clinical trials.

The Challenges

  • Customer’s finance tasks were managed using several different applications.

  • After a recent company acquisition, the number of these applications increased significantly.

  • Due to the influx of new applications, it became difficult to generate reports that involved data from different applications. This limitation hindered the ability to analyze information across the board and make informed decisions.

The Objective

The customer wanted to create a strong plan for handling financial data. They aimed to gather data from all their financial tools and make it accessible in one central place that all stakeholders could rely on. This way, everyone in the company would be looking at the same accurate information. Also, they wanted to stop creating separate reports in different parts of the company, which often led to confusion and mistakes in the actual financial systems.

The Solution

  • Customer requested JK Tech to formulate a Data and reporting strategy. We helped them to build a central data layer for their analytical needs.

  • The strategy points the IT to decide which reporting toolset to use for which business needs.

  • No reliability on any data extracts or manual consolidation in ETL or Excel.

  • Enabled the business to have self-service reporting capability, reducing IT dependency.

  • Quick data retrieval and provided the capability of near-real-time capability.

Business Process Diagram:

The Benefits

  • 100% elimination of manual data consolidation activity

  • Faster reporting capability with near real-time data.

  • Unified view of all reports that exist in the system.

  • Sunsetting redundant toolsets thereby reducing unwarranted software licensing costs.

Chatbot Aria

Hello, I am Aria!

Would you like to know anything in particular? I am happy to assist you.