CIMA where business + finance meet
Working towards a several hundred million dollar enhancement to the bottom line ‘The finance commercial team works alongside the global sales and marketing organisation to support the commercial strategy review within AstraZeneca. They have provided new ideas, financial models and assessment of different strategic options and have supported our teams.’
Cristina Ortega Duran ACMA, CGMA Finance Director, Global Commercial, AstraZeneca Many organisations fail to capitalise on the finance department’s capacity for strategic input. Not AstraZeneca, however, where the global commercial finance team, led by CIMA-qualified Finance Director Cristina Ortega Duran, works closely with sales and marketing colleagues on business strategy reviews. Senior members of AstraZeneca’s commercial team now see the finance team’s input as indispensible. Previously, they would turn to consultancy firm McKinsey for data and analysis, whereas now they look to the global commercial finance team. Traditionally, the commercial finance team supported the review process by consolidating 10-year business plans, providing analysis and challenging potential investments that looked likely to fall below expectations or benchmarks. The global commercial finance team got into the habit of proactively calling meetings with marketing, sales and strategy colleagues to discuss the commercial and financial implications of strategy moves. As sales and marketing colleagues realised that it was quicker to make decisions alongside finance professionals, they requested that the finance team become a core member of the strategy team.
The finance team improved the quality of management information available for strategic review – working with other in-house teams as well as pulling together data from outside sources. Working with senior colleagues in the business, the finance team also enhanced its ability to create convincing strategic arguments, presenting analysis from a huge range of data sources succinctly and powerfully. The change has had a measurable impact. In 2011’s strategy review, the global commercial finance team, together with sales and marketing, identified opportunities to increase revenues and reduce costs, including looking at reviewing different operating models and organisational structures, and assessing potential acquisitions and prioritising investments to maximize returns. The work represents a potential multi-million dollar improvement to the bottom line. Cristina Ortega Duran says, ‘The commercial finance team at AstraZeneca has been an instrumental strategic business partner in the commercial strategy review.’
CIMA value: AstraZeneca Identifying opportunities amounting to a several hundred million dollar potential enhancement to the bottom line. T. +44 (0)20 8849 2251 E. cima.contact@cimaglobal.com www.cimaglobal.com