A well-established clinical research organization (CRO) specializing in the design and delivery of agile clinical trials engaged Clarkston for strategy services to help reimagine what their ideal future operating model should look like.
Given the company’s long-range plan (LRP), the CFO and the executive team wanted to define the major strategic considerations and triggers that could require fundamental changes to their operating model in the mid- to long-term, specifically those derived from key revenue milestone changes, global expansion, M&A activity, the addition of new enabling technology platforms (e.g., ERP), and those focused around cost-containment activities (e.g., onshore/offshore and/or insource/outsource efforts).
Clarkston’s team began with an in-depth assessment of the current state of the finance organization, followed by several conversations with former CFOs to gather perspectives from a variety of executives across different industry sub-segments. Clarkston then defined key finance activities (ranging from highly repeatable and transactional-intensive to highly strategic) to help our client understand core competency areas vs. those primed for delegation.
Through this engagement, the CFO and the executive team were able to clearly define and understand current organizational challenges and, more importantly, what and how to prepare for the future.