Case Study

A booster shot for global business services

How one pharma firm injected 20% more efficiency into finance

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Strong medicine. That's what this pharma major needed to reduce costs, beef up compliance, and promote even healthier customer relations.

The prescription: partner with the right specialist and treat finance first

Therapy started in 2013 when the pharma giant teamed up with Genpact. Together, we agreed that the company should adopt global business services if it wanted to transform a number of finance functions. We established targets, timelines, and who would take charge of what.

Then we set to work.

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What the team did

We created a transformation road-map for global business services, with milestones and goals to work to, figure 1.

We revitalized source to pay to get a better handle on invoices, purchase orders, and supplier data. We reinvigorated order to cash. And we redesigned record to report to ensure relevant and accurate information for better performance insights and planning.

To do this we:

  • Used Lean Six Sigma methods to get rid of unnecessary steps and increase productivity
  • Automated, using technology to streamline vendor invoice and supplier relationship management
  • Created a sleek and efficient assembly line for record to report, and standardized key parts of the close process and vendor master data
  • Found new ways to free up working capital
  • Pleased stakeholders, such as healthcare professionals, by simplifying procedures
  • Improved compliance practices

And here's what made a difference

Teamwork, first and foremost, combined with robust leadership support. The rigorous process called for monthly meetings to keep things on track, and our smooth collaboration ensured we met our deadlines.

With 20 new projects underway, the company made productivity gains in just over a 12-month period.

Now, this pharma is experiencing brand new vigor.

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Figure 1: The impact of GBS transformation