Livongo, headquartered in Mountain View, Ca, is a consumer digital health platform that empowers people with chronic conditions to live better and healthier lives, beginning with diabetes, and now including hypertension, weight management, diabetes prevention, and behavioral health. Livongo manufactures medical devices, such as blood glucose monitors and smart scales, that transmit user data into analytics for individualized care to help users throughout their health journey. Founded in 2014, Livongo had the largest digital healthcare IPO in history and reported $170M in revenue in 2019. They employ over 650 people nationwide and were determined the top 3 best places to work in healthcare.
Livongo was using a hybrid planning approach with Microsoft Excel and Adaptive to create and consolidate their financial plans. This caused a tedious planning cycle that was difficult to reconcile and time consuming to create. Because of technical restrictions, Livongo was unable to build logic that would meet their planning and forecasting needs. Additionally, it was difficult to report and tie out GAAP and Non-GAAP P&L reporting with a detailed headcount plan.
After the first 12-week implementation, Livongo was able to dramatically reduce the amount of time it takes to plan and it allowed them to create a detailed rolling forecast.
The model allows for planning by version, and for the end user to snapshot their data for historical plan comparison and warehousing. Livongo now has the ability to plan at a individual projects/person level or at a aggregated department/account level for headcount, OpEx, and CapEx. It also allows for the accurate GAAP vs. Non-GAAP P&L comparisons with real time impact from the detailed plan.
With the need to customize their process and consolidate the multiple Excel spreadsheets and Adaptive models, Anaplan was the selected technology solution to transform Livongo’s FP&A processes.
Accelytics implemented Workforce, OpEx/CapEx Planning, and Allocations models within Anaplan for Livongo’s Phase 1 FP&A implementation. For payroll and HR specific files, confidentiality and security was added. An integration with Netsuite was also included to share data across the systems seamlessly.