Axirum in Merz Pharma:
Cure for Routine

Merz Pharma is a pharmaceutical company based in Frankfurt with affiliates across the world. The company is active in the research, development and distribution of products in the areas of aesthetic medicine and neurologically induced movement disorders. Today, Merz’s global businesses are focused on the areas of medical aesthetics and neurotoxin therapy. Axirum has been implemented at one of the Merz Pharma units.

Solution

Contractual work

The system automatically checks contracts and financial documents for compliance with the company’s contract policy:

• it controls compliance with tender limits;
• it matches tender results and previously created documents on the timeline;
• it correlates expenditure item with the chosen contractor and document kind with a counterparty;
• it checks the status of a contract for which an additional agreement is created.

If a document does not meet requirements, the system sends notifications. All sums, terms and purchase information are controlled automatically.

A report on the average approval period is useful for effective contractual work. The head manager can see which stages take longer and can act accordingly.

Reference guides «Tender limits», «Contracting sums»

Financial operations management

Creation and approval of payment documents are optimized. That helped to quickly notify accountants about discrepancies:

• when contract sum goes over a set limit;
• when payment currency differs from the one set in a document.

All routine operations are optimized – Axirum registers payment and its date, and the accounting department can quickly upload payroll for calculation.

Transparent interaction with partners

Thanks to digitalization, checking partners’ due diligence became easier:

• when a company profile comes for approval, the system checks attachment of required documents (for example, charter or accounting records) in accordance with the company policies;
• a brief note about counterparty check signed digitally by all approvers is created automatically:
• all information about a counterparty is displayed in a card – it is easy to get access to contract terms, results of the current check or plans for the future ones;
• contract amounts are calculated automatically and divided into tender and non-tender; access rights can be defined within the system.

Note on a counterparty check