Hamilton enables MDS Pharmaceuticals to reduce costs, improve productivity and achieve compliance
Automating expense and travel processes
Merck Sharp & Dohme (MSD) is a subsidiary of the $48 billion pharmaceutical giant Merck & Co., Inc. with its 86,000 employees spread out over more than 140 countries. An early stage subsidiary, MSD found itself with thousands of personnel dispersed over multiple subsidiaries, legal entities and offices and with financial operations relying on time and resource consuming manual paper based business processes.
Within six months, MSD needed to put in place business processes to increase productivity in the back office, reduce travel costs, achieve compliance both internally with group policy and legislation and externally with local compliance requirements. Moreover, the solution had to be one that would have immediate user adoption and a minimum impact on IT and company resources
Hamilton, a leader in the Russian market both for delivery of SaaS solution for Travel & Expense reports and for its knowledge of legislative and process requirements for compliance plus proven technology experience in the pharmaceutical sector, was selected to implement an electronic expense report solution for MSD.
Expense Notes Management automated the administration of expense notes, business trip authorizations and administration. The simple process starts by the employee creating an expense note, which then goes through a series of paperless validation for compliance and approvals, and is then processed by the accounting department that can then access reporting and statistics to generate analytical data.
Now, MDS simply reviews the business processes biannually and, thanks to the agile Hamilton workflow engine, is able to rapidly make changes as necessary following organizational changes, modifications to compliance rules, mergers or acquisitions.
Implementation of the Hamilton solution represented a low financial risk for MSD. And, savings started immediately after deployment due to improvements in productivity, reallocation of manpower to other tasks and cost reduction.
Of the many benefits MSD enjoyed, 3 were particularly significant:
1. Full compliance with MSD company policies, local taxation and Sarbanes Oxley.
2. More than 60% monthly savings in the back office.
3. More than 20% monthly cost reduction thanks to full cost control.
Thanks to its cloud-based platform, installation and maintenance of the software is completely automatic thus, freeing the company from further costs and investment.
- No large Up-front investment
- Multitenant architecture
- No steep learning curve
- Easy customization
- Better access
- No maintenance headaches
- User support
- No outdated solutions