Many businesses involved in Gross-to-Net (GTN) forecasting and close processes struggle with managing complex Excel-based models. While Excel is useful for calculations and data manipulation, it also has significant drawbacks. Manually managing GTN processes in Excel can lead to inefficiencies, inconsistencies, and potential audit issues. However, Breakaway offers an automated GTN solution that can mitigate audit risks and streamline the entire process, allowing users to focus on improving data analysis and projections. This blog explores the advantages of automating your GTN process and how it can revolutionize your forecasting workflows.
Enhanced Data Consistency and Accuracy:
Breakaway’s solution automates the GTN process, ensuring consistent retrieval of source data from various systems. This eliminates the possibility of data discrepancies caused by manual extraction. A standardized approach is employed, guaranteeing that all members within the organization are working with the same assumptions, including the cut-off date. This leads to enhanced data accuracy and reliability. With data integrity ensured, users can have greater confidence in the accuracy of the forecasts and projections derived from the automated GTN solution.
Efficient and Streamlined Workflow:
Breakaway’s GTN solution is automated, making tasks that were once complex and time-consuming much simpler. Rather than manually extracting and loading data into Excel models, users can use the automated system. This streamlines the workflow, freeing up time for data analysis, trend identification, and gaining actionable insights for their business. By eliminating manual data management, users can optimize their productivity and contribute more strategically to their organization’s GTN processes.
Mitigated Audit Risks:
When it comes to audits, gross-to-net models created in Excel can pose major challenges. Because these models are often put together by different users, each sheet must be individually taken apart, leading to a time-consuming and potentially error-prone process. However, Breakaway’s automated GTN solution solves these issues by providing a centralized platform that consolidates all data, calculations, and algorithms. This automation makes audits seamless and hassle-free. By eliminating the need to dissect multiple Excel sheets, businesses can minimize the risk of audit findings and ensure compliance with regulatory standards.
Automate your gross-to-net process with Breakaway’s solution for improved data consistency and accuracy, streamlined workflows, and reduced audit risks. Unlock your forecasting and close processes’ full potential and gain enhanced business insights. Contact Breakaway Technologies today to learn more.
Breakaway Technologies was founded in 1998 with the simple goal of making it easier for finance and accounting teams to report, plan and forecast.