About the Client
JGL, founded in 1991 as Croatia’s first private pharmaceutical joint-stock company, has evolved into an international enterprise with over 1,300 employees, operating in more than 60 global markets. As an innovative leader in the therapeutic areas of cold and flu, ophthalmology, and dermatology JGL is committed to enhancing health and quality of life.
A complex planning process in need of a smarter solution
Despite its global presence and pharmaceutical expertise, JGL faced a challenge familiar to many finance teams: a planning process in need of modernization. Their financial planning and forecasting relied on Excel and traditional tools, which limited agility and slowed execution.
“Using Excel as our primary planning market/sales tool resulted in varying versions across departments, occasional inconsistencies in data, and a consolidation process that required significant time and coordination.”
Matija Posavec, Corporate Controlling Director at JGL
The breaking point
With many markets to manage and a complex P&L structure, JGL’s finance team needed a more efficient way to handle planning and forecasting. The existing system, a combination of Excel and an earlier generation planning tool, was less flexible and required time for maintenance.
Changes, such as adjusting forecasts due to currency fluctuations, took up a significant amount of time in the process. Additionally, maintaining and troubleshooting the Excel-based system required a high level of internal expertise.
“The entire market planning process relied on key individuals who developed those spreadsheets. Their absence or changes in personnel could have made the system’s operation more challenging.”
Matija Posavec, Corporate Controlling Director
Some markets could not support the same Excel VBA and query options, which made it difficult to standardize processes. Market teams faced challenges due to inconsistencies in formulas, accidental data overwrites, and version conflicts.
Why Farseer?
JGL needed a financial planning solution that could manage the complexity of its operations across multiple markets, while improving efficiency compared to Excel-based planning. The new system had to be fast, accurate, and scalable – enabling teams to focus on data insights rather than manual data entry.
After evaluating multiple vendors, JGL identified five key requirements for their new planning tool:
- No more Excel bottlenecks – A solution that eliminates version control issues and reduces manual work.
- Real-time forecasting and scenario planning – The ability to quickly adjust for market shifts, currency fluctuations, and business needs.
- Seamless collaboration – A system that allows different departments and markets to work together without data silos.
- Support for complex multi-market financial structures – A flexible framework that adapts to JGL’s regional and global operations.
- Easy adoption across teams – An intuitive platform that doesn’t require extensive training or IT intervention.
Farseer checked all the technical boxes, but it was something else that ultimately made the decision easy: the people behind it.
“Feature-wise, Farseer was on par with the big players, but the difference was in the approach. The Farseer team was honest, hands-on, and they truly understood our needs. That’s what sealed the deal for us.”
Matija Posavec, Corporate Controlling Director
A transformation in financial planning
With Farseer, JGL is on the path of transforming their financial planning process. What once took a week or two – just to consolidate market numbers – now happens in days. No more endless back-and-forths, manual corrections, or waiting on teams to update spreadsheets.
“We used to spend a lot of time just preparing data before we could even start making decisions. Now, we are on the way to have everything at our fingertips, and when full implementation finishes, we will be ready to act immediately.”
Matija Posavec, Corporate Controlling Director
Beyond just speed, the transformation changed how JGL approaches financial planning. Management can now simulate different scenarios, instantly adjusting for currency fluctuations and market conditions. Data consolidation is now fully automated, eliminating errors and freeing up valuable time. Accuracy has improved, with manual input removed, preventing version mismatches and inconsistencies.
The system is also scalable. Instead of relying on a few key individuals, it’s now accessible to all relevant stakeholders, ensuring continuity even as teams evolve. Most importantly, leadership has immediate access to financial data, empowering them to make faster, more informed decisions. Instead of waiting for manually compiled reports, insights are available in real time – making planning and forecasting more agile and responsive than before.
Addressing critical financial operations
This transformation didn’t just improve efficiency; it also streamlined several key financial operations:
Sales planning per market – Previously, teams relied on static spreadsheets that became outdated the moment a new data point came in. This made it nearly impossible to adjust for shifting market conditions, currency fluctuations, and supply chain disruptions. Now, forecasting is dynamic and updated in real-time.
With Farseer, JGL achieved numerous benefits, including:
- Seamless handling of actuals across currencies – No more manually preparing spreadsheets; financial data is automatically structured and up to date.
- Product listing management per market – New product launches are efficiently tracked, ensuring accurate demand planning across regions.
- Sales price management per market – Automated price updates eliminate discrepancies and forecasting errors.
- Automated data validation controls – Ensuring that input templates are correctly structured before impacting planning.
- MRP (Material Requirements Planning) – Automation of required inputs for material production, driven by planned sales.
OPEX planning per market and cost center – Managing dozens of centers across multiple markets required visibility at both macro and micro levels. Consolidating data from scattered spreadsheets and old 1st generation planning tool reports was time-consuming and prone to errors. Farseer automated this process, ensuring real-time accuracy while reducing manual effort.
Car fleet planning – Farseer centralized fleet planning, allowing finance and operations teams to optimize costs and improve forecasting accuracy.
Workforce planning – Budgeting for headcount, salaries, and employee-related expenses required coordination between finance and HR. Previously, misalignment caused unnecessary delays. Now, updates should be seamless, and decision-makers should have a single source of data.
CAPEX and project approvals – Farseer centralized this process by streamlining approvals.
Automated reporting – The finance team had to juggle multiple P&L perspectives—OPEX per MT/market, CAPEX per MT/market, Brand P&L, and Market P&L. Pulling data, reconciling figures, and formatting reports was a manual process that took significant time. Now, reports are automatically generated, ensuring consistency and freeing up time for analysis rather than data entry.
A shift in mindset
Beyond automation and efficiency, the change was also cultural. Adopting Farseer required a shift in mindset, particularly among employees accustomed to legacy processes. Initially, there was skepticism about replacing long-standing workflows.
“There was initial skepticism, but once teams experienced the time savings and ease of use, adoption followed naturally, especially on our markets.”
Matija Posavec, Corporate Controlling Director
Once teams experienced how much time they would save, adoption happened quickly. Instead of spending hours on data entry and troubleshooting formulas, they can focus on analysis and decision-making – turning financial planning into a strategic advantage rather than an operational burden.
What's next?
JGL is now focused on expanding its use of Farseer to additional planning areas, including deeper automation in subsidiary markets. “We’re aiming to have a fully integrated, real-time planning environment where we can adjust and respond instantly. The goal is simple – no more waiting, no more extensive manual work, just fast, accurate, and flexible planning,” Posavec concludes.
A key priority is ensuring that all subsidiaries can independently manage their data, reducing reliance on central finance teams. Although workforce planning is already implemented in JGL’s largest markets, the next step is to extend Farseer’s use to smaller regions, streamlining cost projections and improving overall efficiency.
For finance teams still struggling with Excel chaos, JGL’s story proves one thing: there’s a better way.
Farseer isn’t just a tool – it’s a transformation.
