Middle Market Case Study:
Organizational Transformation

A SPECIALTY PHARMACEUTICAL COMPANY MODERNIZES FINANCE FOR GROWTH

CHALLENGE:
Finance Must Transition from “Reporter” to “Partner”

• A specialty pharmaceutical manufacturer facing significant change and growth needed to transition its finance department from its current function as “a recorder and reporter of information” to an upgraded
function as “a business partner who can analyze information and predict future performance,” in order to meet new reporting and visibility requirements.
• A walk-through of all accounting and finance processes, plus interviews with key stakeholders, revealed a future significant increase in demand pull from finance, coming from multiple internal and external entities.

SOLUTION:
Organizational Redesign for Current and Future Demand

CMF’s organizational transformation leadership support included:
• Designing a finance organization to address the current state demand pull, as well as support future growth of the company.
• Identifying the gap between the new roles and the skills profiles of existing finance people, which revealed the need for significant Upskilling at the leadership team level and the acquisition of new talent to create an enhanced culture of learning and growth.
• Communicating the department build-out plan and recruiting for the additional positions required.

OUTCOME:
Modernized Roles, Processes and Systems

• CMF realigned roles and responsibilities to resolve numerous issues in the areas of contracting, cost accounting, procurement, reporting, revenue management and treasury.
• CMF created a consolidated, shared service organization and end-to-end processes for revenue management in order to address and prevent leakage.
• CMF modernized the finance function’s infrastructure to manage organic and acquisition-based growth. The company gained a more detailed perspective on roles and responsibilities, and actionable clarity around the organization of processes and systems.