Dimensions, The Driving Force for Life Science CFO’s: Managing, Planning and Reporting in Multiple Dimensions
If we were to tell you that the Life Sciences industry is unique, you’d already be well-aware. If we were to tell you that, as a business, we’ve proudly operated in the epicenter of the industry, Biotech Bay, for two decades and developed an expertise of the symbiotic relationship between Science and Business, you would know this as well.
Then you might be curious as to why we’ve been making so much noise recently. RDL5 with DIMENSIONS is why. We’re introducing our next-gen solution suite offering role-based graphical dashboards with Business Intelligence capabilities.
As we’ve always done, and will continue to do, this solution is designed specifically for the Life Sciences industry. As the role, the importance and the marginal impact of data and data analysis grows with each passing moment, we’ve now ensured that our users have multi-dimensional, role based data views with the ability to examine project, account, time and department specific data necessary to improve business results.
So, let’s break this down into a few key categories and touch on how they’ll be of use to Life Science Professionals.
Life Sciences requires a meticulous attention to detail, balanced with a long-term, goal-oriented perspective. In order to meet both of these needs, we’ve created an infrastructure to accommodate department & project budgeting, “what – if” scenarios, forecasting, strategic plans, personnel planning, and much more.
You might be wondering, you’ve got abundant functionality, great but how does that impact my bottom line? Well, with industry-leading tracking and planning, this can help reduce planning cycles, prevent data silos, streamline core insights and increase collaboration. In other words, your bottom line will thank you.
Tracking & Analysis
One of the most important insights on any project is the ability to see where a project stands in relation to the goal. That is our North Star. We wanted to be able to guarantee the ability to track budget variances, consolidate organizational financials and allocate costs based upon project effort.
As is the case with all our products, we didn’t just roll up our sleeves and write some game-changing code (even though we did) and leave it at that. We tapped into our leadership and pooled our industry experience and knowledge to ensure DIMENSIONS would truly be an asset for our users and for the industry as a whole. You’re welcome, Life Science industry!
Accurate record keeping is the bedrock of all time collection efforts. To simplify this, we’ve created a system wherein users can collect time by project or activity, as a percent or by hour. Without getting too far into the weeds on the flexibility of the collection (though we do absolutely recommend getting into the weeds here) the bottom line is we endeavored to address an industry need and allow for integration with ERP and payroll to automate the cost allocation process, as well as compliance, reminders and alerts. As is also the case with our tools, our users can always analyze and report on these findings.
Ah, yes – everyone’s favorite topic. To save you some time, the answer is: yes, we can accommodate it. Our reports are multi-dimensional, online, exportable, printable. They allow for summaries and drill downs, custom, user defined, tabular, graphical and, most importantly, they blend R &D and Business Intelligence capabilities.
The 30,000-foot summary: we understand the importance of reporting in a modern R & D intensive organization and have built the foundation for our users to develop reports and generate insights to answer their specific questions.
Now, with all of this in mind, the functionality speaks for itself, resulting in a distinct RDL5 Advantage. The ability to make informed decisions more quickly, with dashboards and insights meant to allow Business and Science to work together with 24/7 access is second to none.