The pharmaceutical industry is heavily regulated, and compliance is crucial to the success of companies in this space. Ensuring adherence to regulations and guidelines requires a rigorous monitoring process, effective management of engagements with service providers, and efficient data processing for transparency reporting. Cresen Solutions offers three products that enable companies to achieve compliance seamlessly and efficiently: MonitorMate, EngageMate, and SpendMate. MonitorMate is a global risk assessment and monitoring platform, EngageMate is a global service provider contracting platform, and SpendMate is a global transparency reporting platform. This paper explores how Cresen’s comprehensive suite of solutions can benefit our customers by streamlining their compliance management processes.
The Benefits of Using Cresen Solutions’ Trio of Products
Many companies in the pharmaceutical industry may be using internal processes or different vendors to meet their compliance needs. However, the use of all three of Cresen Solutions’ products can offer several benefits.
Firstly, the use of all three products can help to identify compliance risks more effectively. By using the MonitorMate and EngageMate products in combination, companies can automatically identify risky activities that require monitoring and remediation. It is necessary to need to identify predictors, like the amount associated with an activity or an HCP that is used multiple times throughout different activities. These predictors may also vary by activity. The AI module being developed by Cresen Solutions can assist in this process by using a client’s previously monitored and unmonitored activities as a training data set to train an algorithm which then will suggest which activities should be monitored. Once identified, the activity flows from EngageMate to MonitorMate, where it goes through a remediation lifecycle. The metadata of the activity also flows from EngageMate into MonitorMate, making it easier to track and manage the monitoring process.
Secondly, the SpendMate product can be used to generate various transparency and validation reports. Once the activity is executed, there will be spend associated with it, which would flow from EngageMate into SpendMate. This product provides end-to-end integration for cleansing and processing data, making it easier to generate transparency reports that comply with regulations.
Thirdly, the use of all three products can improve IT security. By having a single vendor that provides a unified solution, companies can better manage IT security risks. Cresen Solutions’ products use secure REST APIs to connect, which enables the information to flow securely between the products. This eliminates the need for companies to manage multiple vendors, reducing the risk of security breaches.
Lastly, by using all three products, companies can have a unified solution for all their compliance needs. All the “Mates” are designed to integrate seamlessly. Information flows between them, making compliance management more efficient. This eliminates the need for companies to manage multiple vendors or internal processes, leading to fewer headaches and less time spent on compliance-related tasks. Let’s be honest, who doesn’t want a little time back in their day?
Conclusion
In conclusion, Cresen Solutions’ trio of products, MonitorMate, EngageMate, and SpendMate, can help companies in the pharmaceutical industry achieve compliance more efficiently. By using all three products, companies can have a unified solution for all their compliance needs. The products are designed to integrate seamlessly, making compliance management more efficient. The AI module being developed by Cresen Solutions can assist in identifying compliance risks more effectively, and the SpendMate product can be used to generate various transparency reports. By using a single vendor for compliance management, companies can also improve their IT security. Overall, Cresen Solutions’ products offer a comprehensive solution to pharmaceutical companies’ compliance needs and assist them in tackling compliance and regulatory challenges.
