Implemented a software solution for a pharmaceutical company

Implemented a software solution for a pharmaceutical company

Gina and team implemented a consolidation software solution for a pharmaceutical company that was dealing with an inefficient workflow.

The client’s consolidation was previously performed by a third party that completed the consolidation in a basic spreadsheet software. The unintuitive dataset in the spreadsheet resulted in the company being unable to perform their own consolidation or push through adjustments efficiently.

They implemented a consolidation software solution. Because of the issues associated with the previous format, this implementation included moving from source trial balances in functional currency to consolidated translated balances in reporting currency. The implementation included working with over 13 entities, three functional currencies, and multiple countries. Following the consolidation, they assisted in building reports to aid leadership in making timely and meaningful decisions, and they were able to train the client on their new consolidation software throughout the process.

The client had a clear audit path from their local trial balances to their reported numbers. They are now self-sufficient, able to make informed decisions and successfully prepare consolidations for both internal and reporting purposes.

Note: This work was performed prior to joining Stout.