Case Study
Puma Biotechnology Automates End-to-end Accrual Workflow with Gappify
"Gappify solves for this by automating each step in our end-to-end accrual workflow. The implementation was seamless and required minimal lift from the Puma team. It was a one-time setup and we haven’t touched it since, instead our accruals just continue running automatically."
Chris Culotta
Associate Director of Accounting, Puma Biotechnology
- Puma Biotechnology is a biopharmaceutical company dedicated to the acquisition, development and commercialization of novel therapeutics for cancer treatment
- ~ 200 employees
- Oracle Fusion
- Public (NASDAQ: PBYI)
- Biotech
- Utilizes Gappify’s automated internal and external confirmation requests, and accrual JE posting into Oracle Fusion
In this Case Study
Customer Spotlight
“A key objective for Puma was to condense the close window. Historically, we’ve started our accrual process on D-14, while AP was still open and some of our active POs weren’t even in the system. This took up far too much time and prevented the team from being able to focus on critical, high-value tasks. We knew it was crucial we tighten this up.
Our process was also highly manual and required pulling open PO reports for 20 departments, dept leads sending confirmation emails, collecting email responses and consolidating the support into spreadsheets, each dept including 20-50 unique vendors. Gappify solves for this by automating each step in our end-to-end accrual workflow.
The implementation was seamless and required minimal lift from the Puma team. It was a one-time setup and we haven’t touched it since, instead our accruals just continue running automatically.
I feel bad for the biotech companies that don’t use Gappify. I did not fully appreciate the value we would obtain from the tool and I now recommend Gappify to my peers because they need to know there’s a better way to do it.
At Puma Biotechnology, we see Gappify’s value in a few key categories:
Month-End Close Timing
We used to start our accrual process on D-14, now we don’t start until D+3. We also no longer dread close.
Efficiency
Gappify’s ability to automatically collect, save and track support has eliminated various manual tasks, such as the dept owners sending, tracking and exporting confirmation emails to 300+ vendors.
Visibility
Gappify’s integrated dashboard allows users to see confirmations real-time, rather than waiting for dept heads to submit excel workbooks once their accruals collection is complete. This has expedited our review process and close-timing.
Audit
Gappify’s robust documentation trail and control framework has reduced the volume of audit testing. Our auditors are comfortable with the data integrity, controls and ultimately our accrual accuracy and completeness.
Validation
We use Gappify to maintain all of our expense accruals, including for clinical trials, so we can now review and analyze complete data in a single UI before posting to Oracle.”
About Gappify
Gappify, founded in 2016, is a cloud-based provider of accrual automation solutions for mid-market and enterprise accounting teams. The company is headquartered in New York City, with offices in Berkeley, California, Washington DC, and Manila, Philippines.
Its team consists of accountants and CPA’s from Big Four accounting firms and software innovators. Gappify is also supported by strategic advisors from some of the world’s most recognized technology companies and is affiliated with the top companies & accounting organizations.
