Better decisions, faster budget cycle

With an extensive product set and diverse business structure that support a competitive market of more than 1.3 billion people, Livzon Pharmaceutical Group in China must make smart, fact-based decisions every day. Managers rely on business intelligence that helps the company implement smart strategies with greater speed, efficiency and confidence than ever. So when the pharmaceutical giant moved toward an information-based approach to budget matters, it chose SAS® Financial Management.

After implementing the SAS solution for financial management, we were able to shorten the budget development and approval cycle from three months to just 30 days …

An Ning
Executive Vice President

Livzon uses a complex management system to integrate and control its varied functions, operations and subsidiaries. To ensure that its related businesses run efficiently and effectively on a unified management system, Livzon started its information-based transformation in the early 1990s. The organization internally developed two key components of its information management system: a financial management and marketing management system.

Eventually, Livzon’s management team decided to move forward with its goal of using an information-based budget management approach. As a result, Livzon would have the business intelligence needed to make better decisions, faster. After considering various factors – including project demands, cost, performance, business intelligence applications and system expandability – Livzon implemented SAS.

Better decisions, faster budget cycle

At Livzon, the budget is the key piece that links strategic objectives with execution at the operational level. Livzon depends on SAS Financial Management’s advanced capabilities for enterprisewide budget management, forecast analysis and timely, flexible reporting. Executive management can not only view their operations at the summary level, but can also see and understand the significant financial and operational impacts at the functional, regional, channel, subsidiary or therapeutic group level.

Throughout the implementation, the SAS team worked closely with Livzon’s financial department to adapt the solution to Livzon’s special requirements. SAS consultants provided user training on the budget management system, allowing relevant concepts to be understood and put into practice sooner by Livzon staff. With the completion of its budget management system, the budget process has become much more accurate, efficient and timely. Individual departments spend less time on data collection, data input and workflow routing/approvals, and can concentrate more on analysis and content.

By implementing SAS, Livzon is able to link business planning with operational execution through an enterprisewide budget that spans all its diverse business operations, improving Livzon’s decision-making capability in the face of complex and varying challenges.

An Ning, Executive Vice President of Livzon Pharmaceutical Group, says, “After implementing SAS, we were able to shorten the budget development and approval cycle from three months to just 30 days. Additionally, we now spend the majority of our time analyzing the information, not collecting and validating the data.

“With flexible control of multiple budget versions, the solution helps us summarize more than 4 million pieces of data from the 14 companies and 39 subsidiaries under the Livzon umbrella. By automating and simplifying the workflow of financial budgeting, SAS also boosts working efficiency and provides the basis for better business decisions.”

Challenge

Unify budget processes for a broad, diverse group of companies, subsidiaries and products in order to make smarter decisions, faster.

Solution

SAS® Financial Management

Benefits

Budget development, approval cycle reduced from three months to 30 days; more accurate, efficient decision-making through simpler, automated budgeting; less time collecting, validating data and more time analyzing it.

The results illustrated in this article are specific to the particular situations, business models, data input, and computing environments described herein. Each SAS customer’s experience is unique based on business and technical variables and all statements must be considered non-typical. Actual savings, results, and performance characteristics will vary depending on individual customer configurations and conditions. SAS does not guarantee or represent that every customer will achieve similar results. The only warranties for SAS products and services are those that are set forth in the express warranty statements in the written agreement for such products and services. Nothing herein should be construed as constituting an additional warranty. Customers have shared their successes with SAS as part of an agreed-upon contractual exchange or project success summarization following a successful implementation of SAS software. Brand and product names are trademarks of their respective companies.

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