Transforming Finance Operations to Support Enterprise Growth

Synopsis

As a leading pharmacy benefits manager (PBM) continued to grow, its Finance organization faced increasing pressure from higher client volumes, transaction demands, and operational complexity. Legacy billing processes and limited automation made it difficult to scale operations while maintaining a consistent client experience.

The client partnered with Voyage Advisory to support the organizational adoption of a modern finance and billing ecosystem. Through a structured change management strategy, Voyage helped prepare stakeholders across the organization and supported the migration of nearly 1,000 clients to a new billing platform.

Client & Challenge

The client had experienced significant growth, increasing the demands placed on its Finance operations, billing processes, and supporting technology. Existing systems and manual processes had been designed for a much smaller organization, creating challenges around scalability, efficiency, reporting, and cross-functional coordination.

Finance, Account Management, IT, and Operations teams often worked across separate processes and systems, creating communication gaps and limited visibility into how the transformation would affect different stakeholder groups. As client volumes and transaction complexity continued to increase, the existing environment was no longer positioned to support the organization's long-term growth.

The client needed to:

• Modernize its finance and billing ecosystem
• Reduce reliance on manual processes
• Improve cross-functional collaboration and visibility
• Establish a scalable foundation for continued growth

To support these objectives, the client embarked on a finance transformation involving new technology, automated processes, and changes to how teams worked across the organization.

Solution Approach

Voyage Advisory partnered with the client to support company wide adoption of the new finance and billing environment, building on stakeholder and change impact assessments that had already been completed by the program.

Voyage applied its change management methodology, grounded in Prosci's ADKAR model and Kotter's change principles, to connect stakeholder insights with targeted communication, engagement, readiness, and enablement activities.

Rather than duplicating work already completed, Voyage reviewed existing program materials, validated key findings with project leaders and impacted stakeholders, and translated those insights into an actionable change strategy. This helped identify where additional alignment, communication, and stakeholder engagement were needed as the transformation progressed.

Voyage's delivery focused on several key areas:

• Stakeholder engagement: Established recurring working sessions with highly impacted teams and cross-functional stakeholders to surface concerns, address questions, and maintain alignment.
• Leadership alignment: Supported executive communications and steering committee engagement to maintain visibility and sponsorship throughout the transformation.
• Targeted communications: Developed leadership messaging, email campaigns, presentations, video updates, FAQs, and digital communications to provide consistent program updates and prepare stakeholders for upcoming changes.
• Readiness and enablement: Developed training, readiness activities, and leadership enablement to prepare teams for new processes, roles, and ways of working.
• Transition and sustainment: Established clear ownership, business processes, communication resources, and stakeholder handoffs to support the transition from implementation into ongoing business operations.

Results & Impact

Voyage's change management strategy helped build organizational readiness and supported the successful transition to the client's modernized finance and billing environment.

The phased deployment supported the migration of nearly 1,000 clients over an 18-month period while maintaining operational continuity. During the initial deployment, the new platform processed more than 136,000 claims totaling approximately $12.8M and 42 bills totaling approximately $9.4M within the first week.

As additional client segments transitioned, transaction volumes scaled significantly. During a subsequent migration wave, the platform processed approximately 5.5 million claims totaling $607M within the first month, demonstrating its ability to support substantially higher transaction volumes.

The final migration wave completed the client's transition to the new billing environment. On a single day, teams processed approximately 283,000 net claims representing more than $47M in paid claims, demonstrating the organization's ability to operate at scale within the transformed environment.

Beyond the technology implementation, Voyage helped establish more consistent communication and engagement practices across the organization. New communication channels and recurring stakeholder forums increased visibility into program activities, strengthened cross-functional collaboration, and helped teams prepare for changes to processes and ways of working.

Key Lessons & Next Steps

A key factor in the transformation was maintaining consistent stakeholder engagement throughout implementation. Regular communication, leadership sponsorship, and opportunities for impacted teams to provide input helped strengthen alignment and build ownership of the changes.

The transformation also reinforced the importance of connecting technology implementation with organizational readiness. By combining stakeholder engagement, targeted communications, training, and clearly defined ownership, the client was better positioned to sustain new processes beyond go-live.

As the program moves into closeout and ongoing operations, business leaders are assuming ownership of the new processes, governance practices, communication resources, and training materials established during the transformation.

Conclusion

The finance transformation helped the client move from a highly manual and fragmented billing environment to a modern, scalable platform capable of supporting significant transaction volumes and continued organizational growth.

Through close partnership with the client, technology, and implementation teams, Voyage Advisory helped translate a complex technology transformation into an actionable change strategy aligning stakeholders, preparing impacted teams, and supporting the successful migration of nearly 1,000 clients to the new billing environment.

Go-to Market

Voyage Advisory helps mid-to-large enterprises navigate complex transformations by combining strategic change management expertise with hands-on execution. Our approach provides clients with a flexible, tailored alternative to large systems integrators and strategy firms, while offering more strategic value than a traditional one size fits all approach. By partnering closely with clients to align stakeholders, prepare impacted teams, and drive adoption, Voyage helps organizations translate investments into sustainable business outcomes.