Centralized cost center implementation for enhanced financial efficiency

Addressing inefficiencies in financial operations, this project centralized all Early Career Program (ECP) costs into a new cost management model at a leading biotech firm, enhancing financial transparency.

Change Management | Strategic Planning | Agile Project Management

Scope: Consolidation of recruiting, wage, and programming costs for ECP participants

Stakeholders: HR Program Manager, Director of Early Careers, Director of Finance, Regional Leads

Timeline: Rapid deployment from December to February focused on strategic planning and system integration

THE CHALLENGES

Initial pushback from regional leads reluctant to change budget control

Delays due to difficulty aligning with incoming CHRO’s availability

Integration challenges with existing financial systems

THE APPROACH

Engagement Workshops: Regular session to align stakeholder goals and project objectives

Agile Management: Responsive adaptations to feedback and evolving requirements

Targeted Training: Tailored sessions to ensure smooth transition for all end-users

THE RESULTS

Streamlined budget management processes, reducing administrative overhead

Unified reporting structure improved decision-making capabilities

Increased support and collaboration from all stakeholders