Data integration for multi-dimensional analysis
Success story TauRx Therapeutics Ltd
Focusing on both research and commercialisation, revenue and expense tracking are of utmost importance to the finance team. TauRx must provide their investors with a clear view of the company's performance with timely updates.
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I would recommend LucaNet. If you want something that is quick to implement, very fast, able to integrate all your different databases and allow you to have much control over your business, go for it.
How TauRx uses LucaNet software:
- Automated financial consolidation
- Business controlling
About the enterprise
TauRx is a leading research institute specialising in Alzheimer's disease research. With its research facility based in the United Kingdom, and its commercial headquarters based in Singapore, TauRx continues to pioneer a new pathway to treating Alzheimers across the globe.
Business Processes
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Industry :
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Health / Social Affairs
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Core Business :
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Life sciences
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Headquarter city :
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Singapore (Singapore)
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Locations :
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Singapore, Scotland (Aberdeen)
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Employees :
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200
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Website :
The challenge
Obtaining full data transparency
With a multitude of software systems used across various departments, in the different countries, TauRx was facing a major roadblock to obtaining full data transparency. Furthermore, the team in TauRx was still relying on a slow and error-prone manual process to perform financial consolidation. It was about time for TauRx adopt an effective solution to integrate their data sources and with numbers they can trust. Hence, LucaNet was implemented.
The solution
Holistic data integration
LucaNet allowed TauRx to streamline their data into a single-source-of-truth platform with its proprietary data integration technology. TauRx is now able to integrate its multiple data sources and enable drill-down analysis within one platform. Additionally, TauRx can enjoy automated consolidation process with significant time savings.
Management reporting is now a breeze with LucaNet. LucaNet's platform provides TauRx with the flexibility to analyse and adjust numbers based on different periods be it yearly, quarterly or even monthly within a few simple clicks. TauRx is now able to complete its reports within half a day - a 75% time reduction as compared to their previous manual process. Furthermore, both the management and the finance team are able to put their trust in the reports generated. Overall, the digital transformation of TauRx's finance processes enable the team to perform granular drilldowns across the different databases for more effective controlling and flexible reporting.
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