Finance management
Challenges
Penetration of generics, the end of patent protection for major blockbusters, changing import/export patterns and counterfeiting are forcing life sciences companies to reduce costs and to focus on delivering distinctive quality services. The pressure on costs will lead to the need to implement new organisational models characterised by more analytical and value-adding activities and a higher level of shared processes.
In order to face these challenges, most companies will need to focus on:
- Optimising financial services, through defining adequate target operating models and shared services
- Establishing a performance management system, based on costing models, planning and dashboards
- Management of working capital
- Efficient supply chain management
- Controlling development costs linked to investigators, patient insurance, safety and regulations
- Infrastructure
Deloitte service offering
Deloitte can help life sciences organisations with:
- Building shared service centres
- Value-added benchmarking analysis
- Financial organisation review
- Financial process review
- Outsourcing advisory
- Dashboard implementation
- Business intelligence implementation
- Planning, budgeting and forecasting
- Activity-based costing
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