Case Study: Collegium Pharmaceutical achieves faster, scalable FP&A with Strada and Workday Adaptive Planning

How Workday Adaptive Planning helped Collegium level-up its financial planning and analysis

Collegium Pharmaceutical, a biopharmaceutical company, was facing challenges with its financial planning and analysis. Their processes relied on a fragmented series of spreadsheets, which were time-consuming and prone to errors, making it difficult to support the company's rapid growth. They partnered with vendor Strada to implement a scalable FP&A solution using Workday Adaptive Planning.

Strada led a structured, two-phase deployment of Workday Adaptive Planning, tailoring the solution to Collegium's specific needs in the life sciences sector. The results were dramatic time savings and increased accuracy; their revenue forecasting process was reduced from two weeks to just four business days. This allowed the finance team to shift its focus from manual data management to more strategic work, with Strada providing ongoing support as a trusted partner.

Collegium Pharmaceutical

Cary Denson

Vice President, FP&A