B2E supported a global pharmaceuticals company in financial modelling consultancy services, delivering a detailed design of the new cost structure and accounting treatments.
Background
A global pharmaceuticals company aimed to enhance its financial modelling processes related to the R&D teams' cost structures and accounting treatments. The need arose from a desire to improve budget management and align costs with business processes more effectively.
The Challenge
The client faced challenges in designing the correct cost structures and understanding the cost drivers from various functions. Additionally, there was a need for clarity on the appropriate accounting treatments and data landscape to facilitate accurate reporting and budgeting.
Our Approach
B2E led the design of the system workstream to implement the business processes, interacted with R&D teams to design the cost structure, and defined suitable accounting treatments. The team also supported the identification of SAP GL accounts, simulated financial impacts, designed reports for budget management and controls, and facilitated the data transition to the new accounting structure.
Results
A detailed design of the new cost structure was delivered, along with defined correct accounting treatments and a comprehensive cost model. The project culminated in a solid business case for the changes proposed, enabling better financial management and reporting for the client.
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