Sysbiz Technologies | Novartis-Alcon 30-Month Update Since BPI Gross-To-Net Revenue Recognition (BPI GTN R2) Go-Live
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Novartis-Alcon 30-Month Update Since BPI Gross-To-Net Revenue Recognition (BPI GTN R2) Go-Live

Posted on June 30, 2013 by

Having gone live on January 1st, 2011 with BPI’s GTN R2 product, Novartis-Alcon has reported that, after 2-1/2 years of usage, the BPI GTN automation solution is more than meeting expectations. The BPI GTN automation solution was co-developed with that assistance of Alcon GTN subject matter experts and addresses many of the inefficiencies associated with disparate data sources and manual business processes providing the entire organization a single point solution for accessing critical business data for GTN activities. The primary focus was to greatly improve functional capabilities for the Accounting and Finance groups related to establishing accurate accrual rates and streamlining the reserve adjustment process during close processes. Additionally, “True-Up” and reconciliation processes for GTN deductions have been automated by identifying variances between accruals and payments at the product, customer, deduction and time period. By effectively managing various levels of detail associated accrual and payment information, the BPI R2 product has provided the flexibility to manage the adjustment and reconciliation process differently across each book of business and/or deduction type that aligns to the organization’s gross to net process. Key benefits include:

1)Enhanced data integrity, usability, integration & normalization processes, 2)Accrual rate best fit modeling driving to accurate net pricing and average sales price at point of sale,

3)Real time adjustments to accruals integration with Financial systems with validation processes to ensure both systems are in sync,
4)Automated Reconciliation & “True-Up” resulting in reduced financial analysis leading to accelerated close process, and
5) compliance to SOX and other Internal controls. BPI’s President, Richard Burcham, states “Having a proven, business benefit-driven, GTN automation solution in-place at a major life science company for 30 months, combined with the ongoing GTN R2 implementation with several other major life sciences companies, places BPI in a unique GTN leadership position.” Richard is very proud to state that “BPI has the only proven GTN solution and will stay far ahead of any competition.”