Total penalties from compliance-related violations have crossed over US $20 Billion since 2000.
qordata’s Data-Driven Compliance platform enables life sciences companies to improve the effectiveness of their compliance program. This one-stop solution offers comprehensive coverage by combining all the essential tools, training, and services.
This includes Global Compliance Monitoring, Risk Assessment and Mitigation, CMS Open Payments Reporting, Global Transparency Reporting, Global HCP Engagement, Grants and Sponsorships, and Integrated Data Analytics.
Together, these offerings allow compliance officers to proactively monitor compliance, identify and mitigate risks, enhance the HCP Engagement process, and assure compliance at all levels.
An advanced data-driven modular suite of SaaS solutions such as Aggregate Spend Reporting, Compliance Monitoring, Compliance Analytics, HCP Engagement, and State Price Transparency Reporting. Our products empower life sciences companies to ensure compliance at all levels, focus on insights to identify and mitigate risks.
Total penalties from compliance-related violations have surpassed $20 billion since 2000. This underscores the substantial financial impact of non-compliance in the life sciences industry.  
Regulatory adherence is imperative in this sector, where the slightest deviation can lead to severe consequences such as hefty fines, reputational damage, and even legal ramifications.  
With 73% of compliance officers citing heightened regulatory expectations and scrutiny as primary sources of pressure, data-driven compliance emerges as an indispensable tool for ensuring regulatory adherence.  
With qordata’s data-driven compliance platform, compliance officers can utilize data analytics and AI to improve their compliance program’s capabilities, safeguarding their organization’s financial stability and reputation.
| Conventional Compliance | Data-Driven Compliance |
|---|---|
| Compliance relies on manual monitoring of processes, policies, and activities. | Automating routine tasks and processes reduces manual efforts, minimizes human error, and improves data collection, analysis, and reporting. |
| Compliance tends to be reactive, addressing issues after they occur or when they are detected during audits. | Allows real-time monitoring of compliance activities to identify control failures, ensuring proactive identification and remediation of risks. |
| Different functions operate in silos and manage compliance independently. This limits the view of compliance across the organization. | Breaks down silos by integrating functions. It fosters collaboration, enhances communication, and provides a unified view of compliance efforts. |
| Policies are communicated and enforced without effective training. This affects the overall compliance stature of the organization. | Collaboration, open communication, self-accountability, and information transparency across all functions contribute to building a compliance culture. |
| The limited use of advanced technologies restricts real-time data analysis and proactive risk management. | Using data analytics and AI, compliance officers can leverage predictive models to forecast potential compliance risks. |
Consisting of an advanced, data-driven modular suite of SaaS solutions, qordata’s data-driven compliance platform assures that your compliance program is effective and covers all functions globally and locally.
This empowers compliance officers and life sciences companies to assure compliance at all levels, leverage data analytics to augment decision-making, focus on insights and derive foresight, and identify and mitigate compliance risks.
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