ICON plc. is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. The company specializes in the strategic development, management, and analysis of programs that support clinical development—from compound selection, to Phase I-IV clinical studies. ICON currently has around 9,000 employees at 82 locations in 40 countries.
The company wanted to streamline and simplify month-end, budgeting, planning, profit and loss, and capital expenditure (CAPEX) reporting relating to clinical trials. To accomplish this and other tasks, ICON plc. implemented Oracle Hyperion Planning and Oracle Hyperion Financial Reporting to simplify and consolidate regional, divisional, and corporate planning and reporting. With the implementation, the company significantly reduced reliance on Excel and increased planning intelligence accuracy, timeliness, and granularity.
ICON chose Oracle Hyperion Planning for its ability to provide in-depth, holistic visibility for all parts of the business and their impacts on operational planning.
"ICON evaluated a number of different BI solutions to meet our requirements, but it was clear that the Oracle Hyperion solutions offered better prebuilt integration with Oracle E-Business Suite. We also received strong product and partner references from peer companies, and that made our decision a relatively easy one, "said Mark Connolly, director of group financial systems, ICON plc.
"Oracle Hyperion Planning gives us an enterprise view of data while enabling all group divisions to produce their reports," said Jonathan Curtain, corporate director financial planning and analysis, ICON plc.
Oracle Gold Partner Codec-dss managed the implementation and provided support and training. The company’s expertise in enterprise performance management and business intelligence, and its track record of successful implementations, made it the preferred partner for ICON.
"Codec has enabled us to leverage Oracle Hyperion Planning and Oracle Hyperion Financial Reports to transform the efficiency and timeliness of planning and reporting at ICON. We now plan to extend its benefits to forecasting, “Curtain said.