Compliance in Bio-Tech and Pharma industries.

Biotech and Pharmaceutical companies today face an ever increasing burden of managing risks and complying with myriad regulations. Specific business challenges include:

• Managing multiple supply chain members and increased competition

• Pricing challenges from competition, reimbursements and government policies

• Environmental, health & safety (EH&S) risks

• Managing reputation risk

• Challenges and costs of skilled resources recruitment and retention

• High cost in research and development and achieving return on investment

It is in this environment, that Chief Risk Officers and Chief Compliance Officers need to operate effectively and efficiently. Specifically, the risk and compliance functions require solutions that:

• Provide a complete and accurate enterprise view into risk

• Ensure compliance with myriad regulations across multiple geographies within cost and time constraints

• Contain internal fraud

• Link risks to root causes, events, hazards and other elements of governance, risk and compliance

• Manage project risk and govern investments

• Create a single, integrated view of risk and compliance across the organization

• Manage information duplication and redundancy