Global unified financial reporting & analysis with CCH Tagetik

mundi case study

The Client

About
Mundipharma

Mundipharma is a multinational healthcare company and part of a global network of independent associated privately owned pharmaceutical companies. With 2,700 employees, it is headquartered in the UK and a has presence across Africa, Asia Pacific, Canada, Europe, Latin America and the Middle East.

Focusing on commercial, market access, manufacturing and supply chain capabilities, Mundipharma brings innovation and treatments to areas in pain management, infectious disease and consumer healthcare, as well as many other disease areas.

The Challenge

Like the other 80+ independent associated companies (IACs) within the global pharmaceutical network, Mundipharma was running its own systems and ERP. At month end, figures would be uploaded to a portal to enable the central management division to consolidate the numbers.

The group’s ability to provide effective reporting and detailed insights was limited by these different data governance systems at each IAC. The group wanted to increase its analytical capabilities to help drive the business forward and provide a global, common view using trusted data.

Transparent, integrated data would enable the delivery of high-quality financial information that would effectively serve local, regional and Board requirements. To support this process, Mundipharma would need to introduce new systems and ways of working.

The arrival of a new CFO was pivotal to driving transformation change and to addressing how the challenges of speed of data availability, data integrity and the reduction of manual intervention could be overcome.

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The Solution

Mundipharma adopted CCH Tagetik to fit seamlessly into the whole integrated IT environment and give the finance team visibility across all the entities and at Board level. It also offered advanced reporting capability at product, functional and regional level, and made business sense with the central management division already deploying CCH Tagetik to run financial close and consolidation.

To provide expertise at both a technical level and from a strategic growth point of view,
Mundipharma selected CCH Tagetik Global Platinum Partner Codestone. The goal was to effectively provision its users and manage the application and related software development.

Codestone’s solution architects provided structural set up and ensured that data security was not compromised across entities. Beyond system set-up, Codestone provides strategic guidance, robust methodology and release management to ensure maximum adoption as the business needs change and to future proof the system. It also manages two major software releases per year for budgeting and estimates, as well as smaller releases to keep up with business change such as accounting policies, product or supply chain modifications.

Roger Miller, Head of Project Services and PMO at Mundipharma IT Services explains, “Codestone is important to us as they understand the impact of even a small change causes a ripple effect throughout the system. Their team is instrumental to these upgrades and their input is key in our business change conversations.”

Financial and management reporting empowers Mundipharma to provide value-added analysis for increased planning and budgeting agility. With pre-built reports, users can now access accurate data and collaborate easily using automated workflows, drilling the data for real-time insights and transforming the way users interact at different levels.

CCH Tagetik is providing the unified financial analysis that Mundipharma needs for better reporting, and enhanced decision-making – from functional to regional, entity and Board level. To develop the system and ensure optimisation the company continues to partner with Codestone to keep up with the changing needs of the business.

Our CCH Tagetik system is stable and doing what it needs to do, to make our life easier. Our technical capability is maturing, however we made the decision that to effectively develop and future proof our system, we would like to continue partnering with Codestone.

Roger Miller

Head of Project Services and PMO at Mundipharma IT Services

Discover the Benefits

  • Data

    Mundipharma consistently meets its working day 3 and 7 financial reporting deadlines, using accurate and reliable data from a single source of truth.

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    Automated workflows reduce manual intervention, so the business can make faster decisions using drill-down capability and gaining instant visibility of the data they need.

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    Data integrity ensures Mundipharma maintains the highest level of data quality and can trust it to make the right bigger decisions and interact with the other entities in the buying and selling chain of events.

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    Analytical capabilities and standardised processes are delivering enhanced business value and consistency to the financial data not only to the finance team but across the board.

Codestone is much more than simply a technical resource, it is our trusted business partner helping to ensure we fully optimise and future proof how we deploy CCH Tagetik, and at the same time expand our own knowledge and capability. The Codestone team are very knowledgeable, responsive and good at what they do – we’ve enjoyed a great working relationship with them over the last few years.

Roger Miller

Head of Project Services and PMO at Mundipharma IT Services

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