In the face of slow growth in mature markets, drug patent expirations, and regulatory pressures, life sciences companies have an urgent need to find ways to better anticipate risk and uncertainty and plan for the future.
This evolving business climate increases the importance of a strong planning, budgeting and forecasting function for companies as they strive for high performance and a sustainable competitive advantage.
It has been our experience that when it comes to planning, budgeting and forecasting, high-performance life sciences companies are more likely to take immediate steps to help improve their capabilities. The central focus is gaining a better understanding of past performance. Insights captured can then be translated into forward-looking targets that are closely aligned with actual business conditions. This improved precision and development in forecasting can help contribute to greater shareholder value.