Research & Data Services

How Ikigai Labs cut month-end close time by 50% and doubled approval speed with Vectura

How Ikigai Labs cut month-end close time by 50% and doubled approval speed with Vectura

How Ikigai Labs cut month-end close time by 50% and doubled approval speed with Vectura

$1.8M

Research budgets tracked in real time during first year

45%

Faster reporting cycle from data collection to review

Strategically positioned at the intersection of India's first High-Speed Rail corridor, conventional rail, metro connectivity, BRTS, road networks, and regional transportation infrastructure.

About

Ikigai Labs is a global research and data services innovator specializing in large-scale analytics for healthcare, life sciences, and government agencies. With operations spanning multiple continents and thousands of data points generated daily, the company partners with leading institutions to deliver insights that drive critical decisions.

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Research & Data Services

THOTH'S ROLE

500 – 1,000 employees

Founded

2015

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The Company

Ikigai Labs brings order and speed to complex financial operations

Ikigai Labs is a global research and data services company specializing in large-scale analytics for healthcare, life sciences, and government agencies. With teams spread across multiple continents, the organization manages complex projects that require precise financial tracking, vendor oversight, and rapid reporting. Its finance department plays a crucial role in ensuring every project meets both budget and compliance requirements.

The Motivation

Scaling research while managing complexity

As Ikigai Labs expanded its client portfolio, the number of financial transactions grew exponentially. From vendor contracts to grant disbursements and inter-departmental budgets, finance had to manage hundreds of moving parts. Traditional tools and manual processes could no longer keep up.

Leadership realized that without a modern system, they risked losing track of commitments, delaying projects, and eroding client trust. They needed financial infrastructure that could scale with their mission-driven work.

Ikigai Labs’ finance team relied on a mix of spreadsheets, email threads, and outdated approval systems. Approvals often took days, project managers struggled to get accurate budget updates, and finance staff spent valuable hours reconciling reports instead of analyzing trends.

This lack of efficiency wasn’t just frustrating — it slowed down critical research projects where timing and accuracy were essential.

The Solution

Transforming finance into a strategic enabler

Ikigai Labs adopted Vectura to centralize financial operations. With real-time reporting dashboards, automated expense tracking, and structured approval workflows, the finance team finally gained the visibility and control they needed.

Department leads could instantly check budget status, while project managers received faster approvals — keeping projects on schedule and within budget. Meanwhile, the finance team reduced time spent on manual reconciliation, freeing them to focus on analysis and forecasting.

The Results

Unlocking efficiency and confidence at scale

With Vectura, Ikigai Labs turned its financial operations into a reliable backbone for growth. The improvements were both immediate and measurable:

  • 50% reduction in month-end close time

  • Approval workflows completed 2x faster

  • Real-time insights available to department and project leaders

  • Greater accountability, with every expense tied to the right budget line

By replacing fragmented systems with Vectura, Ikigai Labs enabled its teams to move faster, make better decisions, and focus on delivering groundbreaking research to its clients.

woman wearing blue dress shirt

“Vectura gave us back control over our finances. Now, instead of chasing numbers, we’re driving strategy.”

“Vectura gave us back control over our finances. Now, instead of chasing numbers, we’re driving strategy.”

Daniel Hwang

CFO