FinanceSeptember 01, 2022
Financial planning in pharma industry: Tillots Pharma Case Study
The structured, reliable reports that CCH Tagetik Analytic Information Hub generates so quickly are essential tools for decision makers in the organisation and people have got to know the tool well and appreciate its flexibility.
Part of the Japanese Zeria Group, Tillotts Pharma is a fast-growing international specialty pharma company founded in 1963. Tillotts has more than 300 employees at its headquarters near Basel, Switzerland, and around the world. Its products, including in-licensed products, are marketed in more than 65 countries globally. Tillotts and its affiliates around Europe comprise eight companies with total revenues in 2019 of CHF 176.4 million.
Pharma needs to leverage diverse, highly granular data, with products typically sold in multiple countries in different doses, packaging and so on. Tillotts also sells to affiliates, and eliminations for financial statements are quite specific. So to be gathering Excel files from emails was not only time consuming and limiting, but prone to error and causing delays in financial reporting.
CCH Tagetik CPM Solutions
Within the eight companies across Europe forming Tillots Pharma, they use CCH Tagetik Consolidation, CCH Tagetik Lease Accounting for IFRS 16, CCH Tagetik Budgeting and Planning plus project, accrual, headcount, cost-centre and sales reporting.
The CCH Tagetik Analytic Information Hub is the performance engine that will centralize and transform Tillotts’ data for analysis and reporting even more.
Main advantages Tillotts Pharma gains with the implementation of CCH Tagetik CPM solutions
Automated reporting and analysis |
All Tillotts Group financials are gathered in CCH Tagetik and reports and analysis are automated. |
Flexible planning |
The flexibility of the planning tool has been one of the key success factors for the company, particularly with the extra pressures of the pandemic, which has increased risk exposure. |
Fine-tuned drug lifecycles |
The CCH Tagetik Analytic Information Hub enables Tillotts to create new reports and collect very specific data relating to projects and sales right down to single-article quantities. |
Ad hoc reports within days |
Tillotts has been able to shorten the budget process by four weeks and conduct adhoc forecasts within a few days. |
Ready for IFRS 16 |
CCH Tagetik Lease Accounting for IFRS 16 has ensured changes are easy to handle, even when tasks are handed from one employee to another. |
Reduced time -consuming work in Excel |
Gathering Excel files from emails was not only time consuming and limiting, but prone to error and causing delays in financial reporting. The CCH Tagetik Analytic Information Hub is the performance engine that will centralize and transform Tillotts’ data for analysis and reporting even more. |
CPM Solutions for Pharma
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