Invenio update Advanz Pharma's (Formerly Concordia International) SAP landscape and provide ongoing maintenance
Advanz Pharma (Formerly Concordia International) is a rapidly growing pharmaceutical development company, dedicated to bringing its portfolio of niche medications to patients in over 100 countries across the world. Concordia International is the result of the acquisition by Concordia International Corp of the AMCo group. This synergy of talents is highly complementary, and this has fuelled the considerable growth of Advanz Pharma over the last few years. Advanz Pharma plans to continue this trend of acquiring more brands to build a truly global pharmaceutical company.
IT Director Bhavesh Godhania, talks about the Advanz Pharma (Formerly Concordia International) success story
The Business Challenges
Like many businesses that experience very rapid growth, the technology used to support their operations quickly became outdated. This led to an inability to manage rapid business growth due to the limitations of their existing solutions. They were also experiencing:
- Difficulty in managing and controlling disparate data sets
- Trouble consolidating the legal and management elements of such distributed systems
- Growing pains, as the company increased their global footprint, they were looking for integration across all business functions, faster availability, better control and oversight of operations
Their aim was to integrate improved business processes with real-time management, so it would improve their business functions and pave the way for future growth.
Invenio's Solution
In order to support the continued growth of Advanz Pharma, Invenio were brought on board to update the existing systems and provide ongoing maintenance and support in the future. Our technical team started by implementing an application managed services package, in order to streamline business functions and combat operational challenges. They also implemented an Electronic Data Interface system for their current UDG-Forely system which provides world class information systems using an in-depth understanding of the pharmaceutical industry. Using this Invenio were able to integrate their distributors in order to show real-time transactional data. Invenio’s team also:
Dual reporting
Migrated the general ledger and introduced a parallel ledger to enable statutory financial reporting along with the change in fiscal year
Increased control
Applied uniformity at the clustered database level in order to eliminate the duplication of data entry between head office and individual branches
Faster reporting
Implemented quick report generation functionality to dramatically cut time spent creating reports by management
Improved efficiency
Streamlined business processes in order to help Concordia realise their vision of becoming an industry leader outperforming competitors in the market
The Results
Driven by a desire to become a market leader, Advanz Pharma embraced new technologies to streamline their business practices across the board and surpass their competition at every level. By opting to implement SAP and ERP solutions, they saw a reduction in complexity and a significant drop in operational costs, thanks to an integrated supply chain model. They also saw an improved return on their capital expenditure and significantly enhanced data transparency. This new ability to view reports and detailed analysis helped Advanz Pharma realise the value of SAP to their business. Advanz Pharma were able to become rapidly compliant with the restrictive quality and regulatory requirements in their industry. They also saw an improvement in stock management, unit proliferation and price management during promotions, due to the automated solution. Moreover, they saw:
