The 2017 Dentsply Sirona Endodontic budget is final as of April 7, 2017.
For many, this statement could be perceived as trivial or even meaningless, yet for those employees who are target driven or just desire project closure, the past 8 ½ months of finalizing the 2017 budget could have had a detrimental impact on those employees awaiting the final results.
The process has truly tested employees' patience, endurance and stamina, particularly for the local site’s Finance and MI/BI departments. One might ask the question as to why it took so long to prepare the budget, when the project should have lasted 4 months.
Of course, the typical 4 month project does not assume a major reorganization of the legacy Dentsply International organization, i.e. formation of SBU’s and RCO’s nor a large scale merger. Additionally, a new Hyperion financial reporting solution for consolidation and budgeting purposes was implemented at the same time. In fact, training and implementation of the new tool occurred simultaneously and quite successfully for the Endodontic SBU.
The benefits of the new reporting tool will be felt cross functionally from Sales/Marketing, Operations, Finance and R&D from the tracking of new product launches to the capturing of average selling prices and related gross profit by country.
The new reporting tool enables the Endodontic SBU to plan, report and analyze the business results as defined by the new organization and management structure. For the first time, worldwide third party sales at manufacturer’s cost can be utilized to capture a meaningful gross profit. Additionally, worldwide expenses will eventually be captured to view a full profit and loss statement specific to Endodontics.
The MI/BI team will have so much fun slicing and dicing the data!
A big shout out goes to all those involved with the implementation and the continued development of the Hyperion tool including the MI/BI and Finance teams plus the Operations analysts in Munich, Johnson City, Ballaigues and Tulsa.
The project included close collaboration and teamwork as the learnings and setup requirements were immense.
Please congratulate these individuals on a successful Hyperion implementation! There will be a short breather from budgets over the next few months as the process will start again in August. Returning to the previous 4 month project will be the goal for 2018.
Ready, Set, Go! as the organization continues to seek Best in Class processes within Dentsply Sirona.