Centralize Your GTN Process
Gross-to-net processes are crucial for finding product reserves and forecasting in the pharmaceutical industry. However, many organizations struggle with managing these processes because they are conducted in a very decentralized fashion. For example, financial planning and analysis (FP&A) could be working in their silo, while revenue accounting and finance are in their bubbles. This can lead to significant duplicative work and data discrepancies as everyone is pulling data independently. This can create redundancies and allow for errors since people have independent queries for the same data.
Breakaway Technologies Inc. offers a solution to this problem with our Gross-to-Net product. By centralizing all Gross-to-Net data into a single system, members from all teams have one place to go for the Gross-to-Net needs. Being a single system, Breakaway GTN supplies standardized and normalized data – including hierarchies and metadata, thereby supplying a consistent picture of Gross-to-Net data from across the organization.
The benefits of using Breakaway GTN are many. First, it reduces the amount of duplicative work needed from individuals pulling subsets of data for claims, financials, and inventory. With a centralized process, individuals can access the same data repository, minimizing the risk of inconsistencies or errors.
Additionally, this centralized process promotes collaboration and communication between teams. With both accounting and forecasting groups using the same application, users can use each other’s assumptions and conclusions within the same model. This promotes dialogue and review meetings that focus on the data and results rather than on chasing spreadsheets.
Finally, the product reduces the back-and-forth of emailing assumptions and rates between teams. By using a single application, users can streamline the process of sharing data and assumptions, leading to more efficient and correct forecasting and financial reporting.
In conclusion, Breakaway’s GTN product offers a centralized solution for managing your company’s GTN process, allowing for standardized data and promoting collaboration between teams. With our solution, pharmaceutical organizations can streamline their Gross-to-Net processes, reduce errors and duplicative work, and improve their financial performance.
Breakaway Technologies was founded in 1998 with the simple goal of making it easier for finance and accounting teams to report, plan and forecast.