Aligned Experience: Pharma Professional Services Company (Lumanity)
Background
- Lumanity is a clinical, scientific, and functional professional services company serving the pharma industry and helping to bring new drugs and medical solutions to market.
- Formed from 20 smaller acquisitions, they had roughly $450M in revenue in 2023. Because of the acquisition strategy, there was significant complexity and inefficiency impacting EBITDA with ERP, CRM, PSA, HR, and BI systems.
Our Approach
- PIP performed due diligence on many of the add-ons and was hired to complete a full Applications Strategy & Roadmap for the selection of all five key business areas (Finance, CRM, Prof. Svcs. Automation, HR, and BI).
- Lumanity selected NetSuite and Kantata as their primary operating platform, and PIP led the implementation over a three-year period, converting all 20 businesses onto a single technology platform from many source systems.
- PIP led the transformation program, transformed business process across all divisions, and provided change management, working with Kantata and NetSuite implementation experts.
Our Solution
- Value Creation from EBITDA Improvement: $379M at 10x EBITDA multiplier
- 5% margin uplift (+$26.8 M EBITDA in 2024) via a unified operating platform (NetSuite / Kantata) for 20 divisions, with better process alignment & finance automation
- 4% revenue increase (+$18M revenue in 2024) due to sales process optimization and improved systems integration
