Covance is one of the world’s largest and most comprehensive drug development services companies with more than 10,000 employees in 60 countries. Through its nonclinical, clinical and commercialization services, Covance has helped pharmaceutical and biotech companies develop one-third of all prescription medicines in the market today. Covance’s key customers include all of the top global pharmaceutical companies such as Novartis and Merck as well as key biotechnology companies.
Covance is a project-based company in its key business units: clinical development and early development. Project profitability is a key financial driver for the company since over 50% of the company’s revenue is tracked through client driven projects. The project goal was to implement Oracle Project Analytics from three different data sources: Peoplesoft, Primavera and a legacy application called CMS. This was a key strategic project for Covance and was sponsored by both the CFO, VP of Financial Planning and Analysis and the CIO.
KPI used its proprietary methodology to conduct a two-day Vision Workshop and determined the project challenges and success criteria. This was followed by an 8-week requirements gathering stage. Finally design, development, testing, and production deployment milestones were met to complete the systems implementation phase of the project.
The result is a world-class project analytics application that helps Covance increase project and company profitability by integrating data from multiple systems to get a 360 degree view of project profitability.