Life Sciences

With Workday Adaptive Planning, Armanino has helped numerous life sciences companies address their manufacturing, budgeting and forecasting challenges, because Workday Adaptive Planning has allowed our customers to:

• Improve forecasting: Efficiently manage and coordinate operational and sales planning in relevant units, driving an integrated financial plan, with the capability to run what-if scenarios for new products, changes in labor or shifting markets.
• Measure relevant KPIs: Use dashboards to manage key business metrics including medical device inventory turns, COGS, average prices and more.
• Integrate inventory and sales: Integrate inventory planning with production and sales planning, while also coordinating production and sales unit volumes, matching supply and demand, and automatically driving integrated costs and revenues.
• Consolidate across multiple entities: Streamline complex consolidation of data from multiple plants, divisions, and functions, including international operations.
• Model key financials: Model integrated profit and loss (P&L), balance sheet and cash flow statements, including effects of sales on accounts receivable, deferred revenue and cash.

Spreadsheet-based systems are inefficient, error-prone and fundamentally unsuited to meet the reporting needs of life sciences companies. As a SaaS, cloud solution, Workday Adaptive Planning requires no new hardware, software or IT support for initial implementation or ongoing maintenance — and it even has an intuitive Excel-like user interface for increased user adoption.

Integrate Your Technology

In addition, Workday Adaptive Planning can use reports to perform variance analysis, including drill-downs into underlying transaction details from other systems. Built on Workday Adaptive Planning’s cloud platform, the integration solution allows finance teams to connect their existing best-in-class applications (e.g., Salesforce, Sage Intacct, Concur, etc.) with Workday Adaptive Planning — securely importing data from your GL, ERP, CRM and other proprietary systems with ease.

Why Armanino for Life Sciences Manufacturers

If you’re considering implementing Workday Adaptive Planning, you should know that choosing the right implementation partner is the most important choice you’ll make. As your implementation partner, Armanino provides you with the confidence that comes from having a partner who has worked with numerous medical device manufacturers. Armanino’s Workday Adaptive Planning development and implementation team is the largest in the nation. Our staff has the kind of hands-on FP&A experience that leads to a deeper understanding of the issues, operations and processes unique to life sciences companies like yours.

We combine both our clients’ priorities and our own best practices. For example, in addition to a turnkey implementation, we offer a tiered implementation. Our tiered approach can help your internal team learn Workday Adaptive Planning gradually, get more involved in the implementation process and increase user adoption over the long term.

In addition, our certified development and implementation team includes experienced CPAs and former CFOs with extensive finance backgrounds, which means we understand the pain points the CFO Organization battles each day — financial planning, data consolidation, analytics, reporting, internal controls, data security and more.