Case Study: Taconic Biosciences cuts month-end close by up to 5 days and standardizes reporting with insightsoftware GL Wand

Biotech Company Standardizes and Enhances Reporting with GL Wand

Taconic Biosciences faced a major reporting gap after moving to Oracle R12, losing access to the transactional detail managers relied on for month-end and management reporting. The company evaluated and adopted GL Wand from insightsoftware—an Excel-based tool that connects directly to Oracle E-Business Suite—to restore real-time GL access and drill-down capability without a data warehouse.

insightsoftware’s GL Wand was rolled out after a small pilot and quick training, with static templates and dashboards that automated about 80% of monthly reports and enabled rapid drill-downs for managers. The solution improved information quality and efficiency, cutting four to five days from the monthly close and shaving up to a week off management reporting, while supporting multi-entity views and faster subsidiary closing checks.

Taconic Biosciences

Nick Mitropoulos

Senior Director