How to turn risk management into competitive advantage

This week's Expert View considers ways of maximizing the value of compliance data to drive commercial decisions, and is written by Johan Holm, a principal at healthcare consultancy IQVIA.

The life sciences industry has always been subjected to transparency requirements. To help avoid compliance violations that may lead to penalties, many life science organizations have ramped up their efforts to collect compliance data and streamline the reporting process.

Data collection and reporting provides a clear and tangible benefit in the form of meeting complex regulatory requirements. However, organizations may be missing out on an opportunity to use this information outside the compliance department. With the right compliance management systems in place, it’s possible to generate actionable insights from compliance data and enable proactive decision-making across the organization.