Industry Insight: Pharmaceuticals

Prescribing Automation and Cash Management for Finance and Treasury Teams

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Overzicht

 

The pharmaceutical industry has become accustomed to change in recent years – and that’s an understatement.

Between emerging technological trends and the all-encompassing impact of Covid-19, businesses throughout the sector have scrambled to evolve, adapt, and, ultimately, stay afloat.

The overlooked backbone of many pharmaceutical businesses, however, is their finance and treasury functions. With post-pandemic growth, every organisation’s banking operations need futureproofing as much as the wider business – but this is rarely the case.

This can greatly stunt company-wide ambitions, as well as opening them up to risk and fraud.
This doesn’t need to be the case.

Op dit moment zijn we bereid te wedden dat het volgende waar is voor uw financiële of treasury functies...

You’re Bogged Down by Manual Processes

 

Manual processes aren’t just tiresome and demotivating – they create genuine issues, too.

Businesses yet to join the 4th Wave of Banking are reliant on outdated workflows centred around spreadsheets, card readers, and banking portal logins.

Not only do teams around the world waste hours every single day bogged down by these procedures, but they’re opening the door to risk and human error.

Up to 90% of spreadsheets are thought to contain errors, and while a misplaced decimal point here or extra zero there might not seem like a big deal, they’re typically enough to send you into shortfall.

Your Operations are Complex and Disparate

 

Being a multinational pharmaceutical business brings opportunity and excitement, but it also brings a whole host of challenges for finance and treasury teams.

If you have a global presence, you’re likely to also have a wide variety of banks and back-office systems in play, creating confusion where there doesn’t need to be any.

Many businesses attempt a DIY alternative to functionality such as Host-to-Host connections with little avail.

Letting a specialist take care of automation for you will both free up time and save you money in the long run.

You’re in Desperate Need of Cash Visibility

 

Having complex banking operations also means that you never have a clear view of your total cash position.

With capital spread across multiple subsidiaries in various currencies, strategising and forecasting become near-impossibilities.

Say your company has a presence in both the US and Switzerland – how do you go about reconciling the combined capital from opposite ends of the world?

The answer lies in a sophisticated Cash Management solution.

Chat to Our Pharmaceuticals Expert Paul Hughes

Paul has championed the importance of intelligent banking and cash management solutions for most of his career.

With a wide range of connections throughout the pharmaceutical industry, he’s well-equipped to welcome finance and treasury teams of any scale into the 4th Wave of Banking.

paul-hughes-headshot



Waarom AccessPay?

Gezien het snel veranderende karakter van de sector is er nog nooit zo'n belangrijk moment geweest om uw bankactiviteiten te moderniseren.

Gelukkig is AccessPay er om te helpen.

Wij brengen orde in uw financiële en treasury-functies en fungeren als de lijm tussen uw banken en ERP-systemen. Met een volledig geautomatiseerde, cloud-gebaseerde oplossing kunt u die vervelende spreadsheets en vervelende handmatige processen voorgoed vaarwel zeggen.

Niet alleen dit, maar onze Cash Management oplossing biedt totale transparantie van de fondsen van uw bedrijf, het compileren van uw saldi van over de hele wereld. Met AccessPay, kunt u zie uw globale kaspositie, herwinnen controle van uw bankactiviteiten door risicobeperking, en optimaliseren uw uitgaven met de beschikbaarheid van rijkere gegevens.

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