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A multibillion-dollar pharmaceutical company faced a critical challenge: its director of financial planning and analysis (FP&A) was reassigned to a corporate project, leaving a gap in leadership. The interim director needed to seamlessly manage day-to-day financial operations while addressing inefficiencies that had hampered the department’s productivity for years. One hindrance was that existing processes, including Excel-based reporting and manual data updates in PowerPoint decks, were cumbersome and time-intensive.
SolomonEdwards provided an experienced financial consultant capable of stepping into the FP&A role with ease; however, the engagement quickly evolved into a transformative effort to streamline financial processes and improve operational efficiency. The consultant addressed inefficiencies in the company’s Excel-based reporting system by transitioning from SUMIF formulas to an online analytical processing (OLAP) model. This change significantly reduced file sizes from 15MB to 6MB, enabling faster updates and improved data manipulation for complex analyses.
In addition, the monthly financial reporting process was overhauled. The consultant linked Excel views directly to PowerPoint decks, automating updates and creating an audit trail for greater transparency. This integration eliminated the need for manual Excel snips, cutting down reporting time from hours to minutes.
The client experienced a dramatic improvement in its financial reporting capabilities. Processes that once consumed valuable time were now streamlined, saving hours each month and reducing errors. These advancements not only resolved immediate challenges but also provided a foundation for sustainable efficiency in financial operations.