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The formula for success
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.
Thanks to these solutions, Evotec is now able to reliably plan, analyze the business development as well as generate simulations and forecasts.
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.
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.
Senior Vice President Controlling bei der Evotec AG
”The new IBM Cognos Technologies really helped the planning process at Evotec: The Processes run faster and more securely with the added bonus that the controllers and planners use the same central data. Top down and bottom up planning is now possible. Furthermore, we now have new possibilities to evaluate and analyze data.“