Myriad Genetics – Prophix story Situation: Myriad Genetics is a Life sciences (biotechnology) company with over $500M in annual revenues and 1,200 employees. They are based on Salt Lake City Utah and use Oracle r12 as their ERP. Website: https://www.myriad.com/ Business issue: Operating in 36 countries Myriad has a massive budgeting/forecasting workbook with over 100 tabs. The head-office personnel would manually validate international data, consolidate balances, and perform foreign exchange conversions. Oracle data had to be imported into Hyperion for financial reporting. Prophix solution: To address their business issues they decided to implement Prophix for budgeting, forecasting, reporting, strategic planning and financial consolidation. Benefit realized: As a result of installing Prophix Myriad’s budgets and forecasts are forward-looking via the 18 month rolling forecasts + other views they implemented. The key benefit was the greater ability to react to the market. The time to complete the monthly close reduced was by 2 days, while also seeing improvements with reporting in numerous currencies, greater transparency into international activities and a more transparent audit trail