HANA Based

Why Restate?

Potential Penalties and Fines

As readers may be aware, pharmaceutical manufacturers are granted a one year grace period to restate the liability to government entities after an acquisition. If the restatement is not completed within the one year time frame, or not done at all, then any additional liabilities found are subject to penalties
and/or fines. Recent examples from the regulators have resulted in significant fines for other pharmaceutical companies.

Purchase Price Revision

With restatement, there is the possibility that significant liabilities, which were not disclosed at the time of the acquisition, are identified. It is possible that discovery of these liabilities could trigger a revision to the purchase price.

What makes it so challenging?

There are a number of calculations and variables that determine the total liability to the government entities. In addition, the process of selling pharmaceuticals typically involves sales and shipments to a direct customer (typically a wholesaler) and then sales and shipment to an indirect customer before the pharmaceutical goes to the end consumer. There are also a number of transaction types that must be taken into account to determine the actual price per unit in which the pharmaceutical was actually sold.

Usually these transactions are in their own systems. Each of these systems is optimized for execution of individual transactions. Extracting large sets of data typically require specialized tools and system specific expertise. Extraction of data is very resource intensive.

Following the document flow across systems also requires an understanding of how to link transactions. Again, this requires specialized resources. Investigations are usually performed one transaction at a time. This is very time consuming.

The Approach to Rapid Restatement

We leverage high performance database technology, SAP HANA, to combat the compressed timeframe for a restatement. The key enabler for this rapid preparation of Government Pricing Restatement is the development of a common data repository on SAP HANA for all relevant data to create synergies including:

● Common development and maintenance capabilities
● Common querying and output tools.
● Common user administration and security
● Platform for standard cross reference definitions

Subsequent to development of common data repository, our solution expands on building reconciliation, cross-references, recalculation engine , system retirements, and scalability features for compressing time in future developments. Our solution with SAP HANA database, has enabled a government pricing restatement that would generally take 1-1.5 years to be accomplished in only five months, resulting in faster response to management and third party vendors related to the restatement. Finally, the rapid government pricing restatement solution also enables additional costs savings due to system retirements.

Our Clients

Intellectuals Row the Boat Together

We join hands with various companies to explore the genius in everything they do and offer opportunities that change the way they feel about transition

IMPORTANT NOTE: Madiba is not associated with or sponsored by the any of these registered or trademark owners.

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Meet Our Experts Team

Madiba experts help you transform your business through innovation and technology!

Nicholas Locke

Executive Partner/Board Member

Nick Locke is a founding member of Madiba and serves as Director for Business Development. Nick has 16 years of IT project experience and focused primarily on the implementation of the SAP ECC systems.

Duane Bosch

Executive Partner/Board Member

For more than two decades, Duane Bosch has led organizations with innovative solutions in the area of Enterprise Business Intelligence/Analytics and Finance Process & Systems Optimization. He is currently focused on guiding businesses through the process of evaluating options when migrating to SAP’s new S/4 HANA and HANA-based BI/analytics platforms. Duane is based in Madiba’s Innovation Center in southern California.

Steve Wayland

Executive Partner/Board Member

Steve Wayland is a founding member of Madiba, and now serves as Director. Steve began his career at Accenture, joined Cap Gemini in 1995, before co-founding Madiba in 1998. He has 23 years of hands-on SAP implementation experience and specializes in the unique challenges presented by the rapidly changing Media Industry.

Steve Graef

Partner

SAP S/4 HANA Customer Experience With 25 Years of SAP Consulting Experience Steve has been with Madiba most of those years wearing different hats such as SAP Implementation Delivery Lead, Project Manager and a Solution Architect for Sales and in CX space. He is SAP Certified in multiple Areas and is one of the key Madiba SAP S4/HANA Core Team membe

Hendrik Gerryts

Partner

Hendrik joined Madiba in 2007 and brings a wealth of expertise and a passion for SAP. With his 28 years of SAP experience, Hendrik focuses on financial planning, reporting, and analysis across multiple industries. Over the past decade, he has specialized in the pharmaceutical sector and has held executive-level positions, including VP of Delivery.

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Jeremy Shinkfield

Partner

Since 1998, Jeremy Shinkfield has been immersed in SAP, focusing on the Media Industry and serving small to midsize clients. His expertise lies in S/4 implementations, application development, and system integrations, with a goal of enabling businesses to operate seamlessly. With a deep understanding of SAP, he delivers comprehensive solutions tailored to clients’ unique needs, to help drive their success.

Manoj Dhir

VP, Digital Transformation

Manoj has total 18 Years of SAP Experience and has been an ex-SAP employee.He is leading the global delivery practice at Madiba & is in-charge of SAP S/4 HANA Digital Transformation services. Manoj is SAP certified Activate Project Manager and is an expert in Public Sector/Govt. as well as Oil & Gas domain. An expert of Solution Manager 7.2 especially positioning Model Company. A hands-on Focused build project consultant