Stryker Endoscopy gets real intelligence to power global impact.
by Anne Ozzimo, August 2008
Look under the surface of any successful company that has achieved a truly global reach and you’ll find informationreal business intelligenceand an executive team that understands that the more they know about the business, in close to real time, the more power they’ll have to reach beyond their traditional borders and impact customers on a worldwide scale. The management team at Stryker Endoscopy, the US$800 million division of Stryker Corporation, has long understood that people need Stryker’s type of healthcare products in every country in the world, and the company is meeting that need and delivering innovative healthcare products to more than 120 countries.
Stryker Endoscopy makes medical devices that include voice activation features, infrared technology, and high-definition video capabilities. “If you think about anything that would be utilized in a minimally invasive procedure, chances are that Stryker’s involved in that procedure,” says Glenn Boehnlein, vice president and chief financial officer of Stryker Endoscopy. The company’s international sales comprise 20 percent of overall revenue and represent one of the fastest-growing segments of the company’s market.
“Globalization is one of the bigger issues for us, because if you look at the worldwide market as a product line
that we play in, it is the fastest-growing market for us. In 2007, that market grew at 30 percent,” comments Boehnlein. “So as we focus on what products we need to bring to marketthe design of those products and their feature and functionality setwe absolutely have to focus on our global marketplace.”
At the same time, healthcare costs continue to come under close scrutiny, and Stryker Endoscopy’s management team knew it had to keep the company’s own costs in line in order to deliver price-conscious products. “One of the biggest issues that we have is centered around cost containment, and a lot of it stems from the pricing pressures that we’re feeling, not only in the U.S. but worldwide,” says Boehnlein. As a result, Stryker Endoscopy is implementing a globalization strategy that will help the company streamline global suppliers, consolidate manufacturing, and design well-targeted products that meet both medical and budgetary needs worldwide.
To accomplish this goal, Boehnlein realized the critical importance of getting information into the right hands at the right time. He and his team rely on Oracle’s Hyperion Enterprise Performance Management applications to disseminate critical financial and nonfinancial metrics into the hands of the employees who need them. As well, the company uses Oracle Business Intelligence Suite Enterprise Edition to gain value from its business information.
“Being smarter with our data is critical to operating our business,” says Boehnlein. “One of the main goals we had when we initially went with the Oracle platform was to bring everybody under the same umbrella of data.”
Having the real business intelligence that allows managers to make informed decisions as quickly as possible can make or break business strategies, and Stryker Endoscopy’s use of Hyperion software illustrates an important tenet of management excellence, a concept designed to help companies build differentiated, innovative organizations.
Management excellence strives to improve management processes in much the same way that operational excellence is aimed at improving business processes. By using business intelligence and the correct performance management infrastructure, companies can work smarter and make better decisions by having access toand usingthe right information at the right time. This is also a key enabler of agility, allowing organizations to adapt and respond quickly to change, all within a framework that aligns the management team around key strategies and company requirements.