Fresenius Kabi elevates financial management with Acterys, automating processes, enhancing scalability, and ensuring compliance. A game-changer for efficiency in pharmaceuticals.
Background & Challenges
Fresenius Kabi Australia Pty Limited, a prominent pharmaceutical company operating in Australia, encountered notable challenges in its financial processes. These challenges were primarily rooted in outdated economic systems and manual practices. The company’s financial operations relied on time-consuming manual processes, including data entry and financial reporting. This manual approach led to inefficiencies, errors, and a lack of real-time financial insights. Additionally, data discrepancies and errors posed risks to compliance and regulatory requirements.
As the company expanded rapidly, its existing financial processes struggled to scale with its growth, creating scalability challenges. Ensuring compliance with pharmaceutical industry regulations added another layer of complexity to its financial operations.
Key Challenges
- Manual and Time-Consuming Processes
- Limited Visibility and Data Access
- Data Discrepancies and Errors
- Inefficient Financial Reporting
- Scalability and Growth Challenges
- Compliance and Regulatory Risks
Streamlining Success: Eliminating Fresenius Kabi’s Financial Challenges
Fresenius Kabi faced significant challenges with its manual and time-consuming financial processes, including invoicing and reporting, leading to inefficiencies and errors. Limited visibility and scattered data across multiple platforms hindered access to accurate financial insights, exacerbating issues with data discrepancies and errors, which negatively impacted financial reporting and compliance with regulatory requirements.
As the company grew, these manual and disjointed systems struggled to scale, further complicating compliance and introducing risks in regulatory reporting and adherence to financial standards.
Revolutionizing Financial Management with Acterys
Acterys significantly transformed financial processes by automating tasks like data entry and reconciliation, leading to reduced manual effort and increased accuracy. The company saved 6-8 person days monthly, allowing a focus on strategic activities. Real-time data integration from Acterys enabled immediate access to crucial financial insights, enhancing market responsiveness.
Improved synchronization between financial planning and accounting systems increased data reliability and consistency in reporting, aiding informed decision-making. Automated financial reporting and advanced error tracking enhanced report accuracy and built stakeholder trust.
Unprecedented Scalability and Cost-Efficiency with Acterys
Acterys proved to be a game-changer for the company’s scalability and growth, with its flexible financial systems accommodating rapid expansion. The platform’s cost-effective implementation ensured enhanced functionality without additional expenses, leading to significant savings and increased productivity.
The successful integration of Acterys was met with widespread approval from financial analysts and stakeholders, praised for its improved accuracy, ease of access, and real-time capabilities. This positive reception highlighted Acterys’s effective adoption and marked a substantial advancement in the company’s financial and operational framework.
Results
Fresenius Kabi leveraged Acterys to automate manual processes, enhance data visibility, reduce errors, streamline financial reporting, facilitate scalability, and strengthen compliance. The implementation of Acterys significantly improved the company’s financial operations and allowed it to overcome its challenges, ultimately leading to greater efficiency and competitiveness in the pharmaceutical industry.
About Fresenius Kabi
- Headquarters: Bad Homburg, Germany
- Employees: Over 39,000+
- Global Presence: Operations in more than 100 countries
- Annual Revenue: Exceeding €6.9 billion
- About: Fresenius Kabi is a global healthcare company specializing in lifesaving medicines and technologies for infusion, transfusion, and clinical nutrition. The company’s products and services help care for critically and chronically ill patients.
