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Quintiles’ Financial Life Cycle • Now that you have an understanding of some key financial terms, let’s explore our financial life cycle—how we earn revenue, incur costs, and manage our cash flow. Note, the life cycle is described at a high level to reflect general processes that apply across the business. The process in your area may vary in specific details. • Beginning on the left and moving right, roll your mouse over each image to learn more. Then, roll your mouse over the Cash icon.
Quintiles’ Financial Life Cycle • Now that you have an understanding of some key financial terms, let’s explore our financial life cycle—how we earn revenue, incur costs, and manage our cash flow. Note, the life cycle is described at a high level to reflect general processes that apply across the business. The process in your area may vary in specific details. • Beginning on the left and moving right, roll your mouse over each image to learn more. Then, roll your mouse over the Cash icon. • Opportunity: The process begins with an opportunity with a potential or existing customer.
Quintiles’ Financial Life Cycle • Now that you have an understanding of some key financial terms, let’s explore our financial life cycle—how we earn revenue, incur costs, and manage our cash flow. Note, the life cycle is described at a high level to reflect general processes that apply across the business. The process in your area may vary in specific details. • Beginning on the left and moving right, roll your mouse over each image to learn more. Then, roll your mouse over the Cash icon. • Proposal: Sales and Finance determine the scope of work and the price, and prepare a proposal for the customer.
Quintiles’ Financial Life Cycle • Now that you have an understanding of some key financial terms, let’s explore our financial life cycle—how we earn revenue, incur costs, and manage our cash flow. Note, the life cycle is described at a high level to reflect general processes that apply across the business. The process in your area may vary in specific details. • Beginning on the left and moving right, roll your mouse over each image to learn more. Then, roll your mouse over the Cash icon. Contract: When we win business, contractual documentation is prepared and signed.
Quintiles’ Financial Life Cycle • Now that you have an understanding of some key financial terms, let’s explore our financial life cycle—how we earn revenue, incur costs, and manage our cash flow. Note, the life cycle is described at a high level to reflect general processes that apply across the business. The process in your area may vary in specific details. • Beginning on the left and moving right, roll your mouse over each image to learn more. Then, roll your mouse over the Cash icon. Service: Next, we deliver the contracted services. Services may be delivered over a short period of time, or over several years depending on the scope of work and the contract terms.
Quintiles’ Financial Life Cycle • Now that you have an understanding of some key financial terms, let’s explore our financial life cycle—how we earn revenue, incur costs, and manage our cash flow. Note, the life cycle is described at a high level to reflect general processes that apply across the business. The process in your area may vary in specific details. • Beginning on the left and moving right, roll your mouse over each image to learn more. Then, roll your mouse over the Cash icon. • Invoice: Based on the contract terms, we invoice the customer, which means we bill them for services performed or to be performed. • A contract may specify that we can invoice based on milestones, such as the number of visits performed in a study. Or, it may specify that we bill monthly for services provided that month. • In some cases, invoices are issued before we start work at the beginning of the contract in order to fund the beginning pieces of work. These are just a few examples, and there are many different invoice triggers.
Quintiles’ Financial Life Cycle • Now that you have an understanding of some key financial terms, let’s explore our financial life cycle—how we earn revenue, incur costs, and manage our cash flow. Note, the life cycle is described at a high level to reflect general processes that apply across the business. The process in your area may vary in specific details. • Beginning on the left and moving right, roll your mouse over each image to learn more. Then, roll your mouse over the Cash icon. Payment: We should receive payment based on payment terms. Payment terms specify the number of days the customer has to pay from the invoice date (e.g. 15 days).
Quintiles’ Financial Life Cycle • Now that you have an understanding of some key financial terms, let’s explore our financial life cycle—how we earn revenue, incur costs, and manage our cash flow. Note, the life cycle is described at a high level to reflect general processes that apply across the business. The process in your area may vary in specific details. • Beginning on the left and moving right, roll your mouse over each image to learn more. Then, roll your mouse over the Cash icon. Throughout this process, we are paying for the cost of resources to deliver the contracted services, as well as for the other costs of the business (e.g., HR, IT, office buildings, etc.).
