Life Sciences is a highly regulated industry, and meeting compliance demands is highly imperative for companies. In addition, the evolving nature of the rules and regulations mounts pressure on organizations and compliance professionals as both are required to keep up with the government’s expectations.
However, with the inception of technologies and data-driven compliance solutions, Life Sciences companies and compliance professionals rapidly shifted to more technologically empowered compliance, enabling them to simplify compliance.
With solutions specifically aimed at managing highly sophisticated and challenging compliance tasks, ensuring timely remediation of compliance risks, and enabling companies to meet global reporting obligations, the foundation of an effective compliance program that meets the ever-evolving rules and regulations enacted by the government can be achieved.
However, there’s an ever more compelling reason for organizations and compliance professionals to consider onboarding a data-driven compliance solution, and that is integrated dashboards.
Integrated Dashboards & the Strategic Advantage
Prior to data-driven compliance solutions, organizations struggled with analyzing compliance data mainly due to siloed processes and decentralized sources.
Analyzing and deriving actionable insights from scattered data had become a nightmare for compliance professionals; however, through centralized solutions, compliance data was aggregated in a central repository to be evaluated and presented to stakeholders conveniently.
Centralization allowed Life sciences companies and compliance professionals to perform various compliance-assuring activities such as compliance monitoring (live & virtual), analytical reporting, and identifying risks before the government does.
In addition, the strategic edge comes in the form of integrated dashboards, an example of which can be qordata’s insightful dashboards that act as a “single pane of glass” for all compliance data across the organization, providing compliance professionals with the ability to get insights into activities, HCP engagements, risks, spend and distribute these critical details among stakeholders effortlessly.
With integrated dashboards, compliance teams can instantly track total spending on HCP/Os and proactively monitor compliance operations under one roof. Moreover, off-label activities can be addressed before propagating into costly circumstances.
Industry benchmarking, comparing internal data with publicly available data sets such as the CMS Open Payments database, and tracking spend based on nature and purpose, or even geographical location are some capabilities that are only a few clicks away for compliance professionals when they’re leveraging qordata’s data-driven compliance solutions that come integrated with insightful dashboards.
Million and billion-dollar Life Sciences organizations have chosen qordata over the years as their trusted data-driven compliance solution provider based on our innovative offerings, such as insightful dashboards integrated into our compliance solutions. To learn more about qordata’s Compliance suite, book a demo today.
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