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IBA

IBA began its existence in 1986 as a spin-off of the Cyclotron Research Center of the Catholic University of Louvain-la-Neuve (UCL) in Belgium. After expanding steadily since 1986, IBA nowadays delivers solutions of a unique precision in the fields of cancer diagnosis and therapy. IBA’s slogan is to protect, enhance and save lives on a global basis. IBA noted over 320 million euro in turnover in 2008 and IBA has shown solid results in the first half of 2009.




Why did IBA select CXO-Cockpit?
After successfully implementing HFM and using it for a good number of years, the Management Team of IBA was requesting a solution to produce IBA’s key periodical results in a simple and easy to use financial dashboard. “They were looking for quicker and easier access of the HFM results than what was possible with the mainly excel and paper driven reports”, says Soumya Chandramouli VP Corporate Finance. “The Finance team at IBA went looking for a workable and affordable solution and we shared our request with our Belgian HFM partner”. “They recognized our need and offered us to have a look at the CXO-Cockpit”, continues Soumya Chandramouli. 

“On the 12th of June 2009 the Corporate Finance team and myself received a generic demo of the CXO-Cockpit, says Jean-Marc Bothy”, CFO of IBA. “In this one hour session it became immediately clear to me that this was exactly what we were looking for and to be honest we were very impressed almost to a point where we thought it was too good to be true”, continues Jean-Marc Bothy.

Implementing CXO-Cockpit
“Viewing a generic software demo and having a working solution on top of your own HFM applications are of course 2 different things”, says Soumya. “That’s why we challenged CXO Solutions to produce a working CXO-Cockpit before our next Group Management Team Meeting just 1 ½ weeks after the initial meeting”. “After arranging access to our HFM application, an IBA bespoke Hyperion dashboard based on our specific requirements was delivered within just 2 days. This POC proved to me that you can implement the pre-built CXO-Cockpit really quickly, but it also showed that within the set of sixteen standard templates, you have a lot of flexibility to meet the specific reporting requirements of IBA”, says Jean-Marc Bothy.

Seeing is believing
“Without any additional training I presented the results of the POC to the Management Team on the 23rd and 24th of June myself. The mutual buy-in in that meeting strengthened the initial feeling that we had found what we were looking for and we went ahead with the implementation” continues Jean-Marc Bothy. “We had our IBA specific Hyperion dashboard set up in just a couple of additional days and all in all it turned out to be a very cost effective way to create a state of the art HFM dashboard”, summarizes Jean-Marc Bothy. 

Immediate benefits for IBA