Streamlining Cost Data Visibility To Enhance Strategic Decision-making

Overview

The client, a global leader in consumer healthcare, had recently transitioned into an independent organization. While their expansive portfolio and operations across 165+ countries remained strong, the transition exposed several inefficiencies in how pricing data was managed across geographies and teams.

Scattered ERP systems, unstructured award data, and high manual effort led to delays in price and volume analysis, affecting timely decision-making. Nexdigm set out to simplify and standardize pricing data workflows, automate repetitive tasks, and provide realtime visibility with a goal to enable faster, more reliable insights for commercial and category teams.

Challenge

The client faced significant challenges in managing and analyzing pricing data across their organization:

• Complex and unstructured award data and ERP data requiring extensive time and effort for analysis
• Scattered data across various teams and multiple ERP tools in different formats
• High manual intervention needed for data cleaning, consolidation, and refreshing
• Lack of a unified file for overall category performance
• No standardized process for quick monthly analysis refresh
• High turnaround time (14.83 days) for ad hoc/monthly analysis of material pricing and volume consumption
• Inefficient approach to data management and analysis.

Solution

The Nexdigm team implemented a comprehensive solution, encompassing the following:

Process Analysis and Documentation

• Conducted detailed process mapping of existing workflows
• Identified vital factors contributing to high turnaround time
• Created structured documentation of data collection and analysis procedures.

Standardization Implementation

• Developed standardized award templates for consistent data collection
• Created macros for repetitive data cleansing and normalization activities
• Established Standard Operating Procedures (SOPs) for data collection and collation.

Automation and Visualization

• Implemented Excel automation for data processing
• Developed user-friendly Power BI dashboard for improved data visibility
• Created training videos for stakeholder enablement

Governance Structure 

• Established monthly cadence for refresh analysis
• Implemented control mechanisms for process monitoring
• Set up a structured query resolution system

Impact

Process Efficiency

• Reduced overall turnaround time from 14.83 days to 8.9 days (40% reduction)
• Decreased data collection time from 5.7 days to 2.5 days
• Reduced data cleansing time from 4.3 days to 2 days
• Streamlined analysis and reporting process

Quality Improvements

• Achieved 95%+ accuracy in analysis and reports
• Enhanced process capability and stability
• Eliminated repetitive tasks through automation
• Reduced manual errors through standardization

Business Benefits 

• Increased visibility and utilization of data in decision-making
• Improved quick turnaround for ad hoc price/volume analysis
• Created easily accessible, dynamic data providing real-time analysis
• Enhanced scope of work supporting other strategic projects
• Reduced FTE count by 1 through process optimization

Stakeholder Impact 

• Improved stakeholder access to category insights
• Enhanced data availability for leadership presentations
• Better visibility of supplier spends for business discussions
• Standardized approach to data analysis and reporting

The implementation has transformed the client's price governance process from a manual, time-consuming operation to a streamlined, efficient system that provides accurate, timely insights for strategic decision-making

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