Formulate Better Budgets

A free white paper by Whitebirch Software, Inc.

Cornerstone Therapeutics (NASDAQ: CRTX) in Cary, NC is a $125 million specialty pharmaceutical company whose success depends on the timely and strategic application of its resources. For forecasting and budgeting, the company uses Whitebirch Enterprise Planning. Cornerstone generates income by commercializing respiratory pharmaceutical products, which it believes have been under-marketed and that it acquires from other firms. So knowing how much income to expect from each product — and where to spend that cash to push existing products and acquire new ones — is critical. With Whitebirch, financial planning is much more about management of assumptions and less about data entry. “Before Whitebirch I spent most of my time updating and maintaining the model,” Alex says, “as opposed to projecting financials. Now it takes less than an hour each month to maintain the model and update it with actual data. So I spend more time analyzing financials and working on scenarios.”

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