Evotec AG uses IBM Cognos technology for planning, reporting and analysis

Evotec is specialized in fragment-based drug discovery. It has an industrial technology platform with which the company is advancing the development of innovative lowmolecular substances along the entire research process. Evotec has disease know-how and maintains science driven research alliances with pharmaceutical and biotechnology companies. Evotec has around 600 employees and the Evotec group had 55.3 million euro in revenues in 2010.

Evotec AG, as a research-based biotechnical company, relies on the precise planning of business and research projects. valantic supported the company during the implementation of a new information structure for planning, analysis and reporting. The Hamburg based consultancy was able to win over the company with IBM Cognos TM1 and IBM Cognos Business Intelligence. Now that Evotec uses these solutions, the company is able to reliably plan and analyze the business development as well as to generate simulations and forecasts.

As a result of the manual data capture process, the previous financial planning and reporting system was both labor intensive and prone to errors. Evotec needed a system that could capture company data centrally and accelerate the planning process. In addition, the new solution had to facilitate the generation of Cognos reports as well as thorough analyses and forecasts.

Evotec, together with consultants from valantic, implemented IBM Cognos TM1 and IBM Cognos Business Intelligence. All relevant business data are centrally aggregated and made available. Users work with web browser-based reporting and planning tools and have consistent, up to the minute information.

With the help from valantic, Evotec was able to implement its business requirements: Through the new system, planning, reporting and detailed analyses are much more reliable, quicker and more flexible. Moreover, the company benefits from the uniform and current key figures and is thus able to carry out more efficient scenario analyses and simulations. Consequently, the controlling department and management can monitor the business development and minimize risks at all times.