Carlson Thought Leadership in Finance & Technology

Life Sciences Finance Teams Help Scientists Save Lives Through Active Planning

October 3, 2019 / by Lauren Strohmeier

Life Sciences Finance Teams Help Scientists Save Lives Through Active Planning (6)When scientists in the life sciences innovate, they make discoveries that lead to healthier lives around the world. Their work at leading pharmaceutical, biotechnology, and medical device organizations makes it possible for the healthcare industry to deliver life-saving solutions.

As these scientists explore how to help humanity, what drives the funding for their innovative initiatives?

It’s the finance teams that help secure the funding that enables the hard outcomes of studies the scientists conduct.

The finance teams deliver actionable insights that guide decision-making at life sciences organizations. Crucially, they gather insights from purpose-built business planning platforms optimized for the industry.

As a life sciences finance executive, you have a specific set of FP&A requirements. With the Carlson team’s expertise in the life sciences industry, your organization can stay agile to keep up with the pace of scientific discovery.

If you’re solely using spreadsheets, you are likely aware of how time-consuming and error-prone they can be. There’s the manual cut and copy that takes hours to complete. There’s less time to focus on core competencies. There’s also communication silos that causes a lack of process coordination.

With Carlson’s knowledge and insights from within the industry, you achieve efficiencies that drive impressive results. Because it saves you from the limitations of spreadsheets, you can be strategic by focusing on what matters most. You can also make the most of Adaptive Insights to make better decisions, faster.

Consultative Guidance in FP&A

When you partner with the Carlson team, you benefit from consultative guidance in finance and systems best practices for the life sciences.

Their guidance is essential to getting optimal results from your system. You can draw from their FP&A expertise, from within the industry, and technical acumen to make Adaptive Insights work best for you. With their counsel, enjoy a rapid implementation that comes at a great value. Additionally, integrate your core systems to bring data together. You also receive exceptional post-implementation support that ensures continued success.

As the Carlson team guides you throughout your journey, you receive business planning solutions for the life sciences that drive higher profitability and help you thrive in the long run.

Renee Sinha, Senior Manager, Adaptive Insights Implementations, Life Sciences, shares how Carlson's clients benefit from its team's breadth and depth of expertise in life sciences financial planning:

"The Carlson Team has partnered with over 50 organizations within the industry, with many repeat clients. This is a testament to our team’s understanding of the industry from an insider’s perspective, prior FP&A experience as former users of Adaptive Insights, and knowledge of best practices in the implementation of the system. In addition to implementing systems, we work with our clients to come up with processes that work best for their rapidly growing organizations."

Build World-Class Models

As you look through the lens of your business, what do you see? A holistic perspective leads to forward-thinking decision-making.

Adaptive Insights helps you model virtually anything. You can know the impact of specific decisions, fund key initiatives, evaluate various scenarios, calculate project expenses, create accurate budgets, look ahead into the future, and more.

Plan for Growth

Do you have plans to take your business to greater heights of scientific achievement?

Adaptive Insights adapts to the progress you make. As you grow your business, your system grows with it. As you scale your business, your system scales with it. It’s the agile solution that moves with your success.

You also have access to robust budgeting, forecasting, planning, and reporting capabilities customized to the life sciences. When you measure what matters, you get operationalized flexibility that accelerates your organization forward. You get a picture of business performance that helps you identify new opportunities.

Explore capabilities that lead to discovery and new business frontiers:

  • Revenue and R&D spending analysis by drug/product, including gross to net revenue, collaboration revenue, and bottom up sales input/analysis
  • Forecasting and planning by drug/product
  • Driver-based, long-range planning
  • Scenario analysis
  • Personnel planning by project
  • Operating expense planning including clinical trials
  • Cost of goods and supply chain planning
  • Capital budgeting with depreciation/amortization
  • Stakeholder and Board reporting
  • Data security and protection

As you know, science is based on fact. With Adaptive Insights, you have a single source of truth that’s the basis for informed decisions.   

Everybody Plans

When people put their minds together, it’s amazing what they can accomplish.

The Adaptive Insights Business Planning Cloud is made for company-wide collaboration. It engages teams throughout your organization to advance the mission. Finance, the CEO and board, sales, marketing, operations, and HR share insights that form a complete business picture.

Project success depends on team alignment and collaboration. Adaptive Insights enables teamwork and cross-functional participation that aligns everyone to act on the company vision.

Active Planning: A Scientific Approach to Business Planning

The life sciences help humanity survive and thrive. They give innovative solutions to our most pressing needs in health and wellness. They encourage observation, exploration and discovery, and a deeper understanding of life.

They’re also guided by the scientific method, which provides logical answers supported by evidence.

Through active planning, you nurture your life sciences organization with a scientific approach to business planning. This pattern of actions - thinking, doing, observing, and improving - provides answers and informs decisions supported by insights. These decisions then fuel scientific advancements and discoveries that help the greater good.

Want to discover how your life sciences finance team can help scientists save lives through active planning? Please contact us for more information.

 

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