CPR for ALSCG
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Alliance Life Sciences Empowers Life Sciences Industry to Enhance Accrual Calculations, and as a result, Expand Market Share and Drive Revenue
Learn about optimizing accrual calculation results, download “Financial Accruals – The Case for Automating the Process”
SOMERSET, N.J. – June 17, 2013 – Alliance Life Sciences Consulting Group (ALSCG), an innovative management and technology consultancy, announces the release of “Financial Accruals – The Case for Automating the Process,” a pro-active examination of the opportunities to automate the accrual process in order to optimize accuracy and accountability, and mitigate major business issues. ALSCG will be available for further discussion during the IIR Gross-To-Net Accounting Forum for Pharma Manufacturers, June 17-18, 2013, Hyatt Harbor Side, Boston, Mass.
“Financial accruals have become a major headache for corporate finance teams – and most companies don’t have an automated way of pulling all the data together, resulting in a time-consuming manual process,” says Jim Burke, senior vice president, Contracting and Pricing Solutions, ALSCG. “We’ve developed key considerations and recommendations to help organizations spend less time and money on number crunching, and more time on understanding the data, analyzing the accruals to determine which promotions and programs are really driving the business, expanding market share, and driving revenues.”
Key success factors involve consolidating the incentive program data into a central repository, applying systematic accrual rate calculations and evolving them based upon real results over time. ALSCG suggests that it can be valuable to automate as much of the process as possible, while recognizing that the capability for manual intervention must still exist.
Burke adds, “We advise that firms not only focus on getting the calculations right, but also on analyzing the data to fine-tune the mix of programs so that results are being continually optimized.”
Formed in 2001, Alliance Life Sciences helps our customers maximize revenue and pricing in an outcomes-based world. We employ hundreds of professionals around the globe who help firms solve problems in Contracting, Pricing, Reimbursement, and Commercial Operations. We enable this mission in a healthcare world where the true focus is on the patient’s health and well-being. Alliance works with 8 of the top-10 pharmaceutical manufacturers, as well as mid-market and other life sciences companies. Contact: 866-581-4850 www.alscg.com