Why a new pharmaceutical brand chose to improve their audit trail
A new pharmaceutical company needed the rapid implementation of a risk solution that they could trust. What was especially needed was a single platform to integrate structured and unstructured data sources for all due diligence research to be carried out in one environment. There were inconsistencies in investigations, and insufficient insights into compliance to correctly adhere to regulatory requirements.
The new head of compliance at the company, an Arachnys client at her previous organization, chose to have a meeting with us, initially interested in the Investigator product. However, the client then quickly saw the added benefits of Navigator to the business, in particular the integrations of LexisNexis and BVD, and an enhanced audit trail. An added challenge was the team being split across different jurisdictions: Switzerland, USA, and Brazil.
Arachnys and the client worked collaboratively to review which sources they would need from our library of 23,000 sources, to then be used in risk assessment across their supply chain. Given the company was doing business globally on a daily basis, the upholding of their reputation was a key strategic deliverable for them. Thankfully they chose to move forward with Arachnys on a three year contract, trusting us as their long term provider.
A dedicated account manager and a data expert from Arachnys were brought in to design and implement the due diligence process, and within one month the client was fully live on the platform. Full training for their users was also then provided by our team. The client was so impressed that they’ve since helped to provide references to other pharmaceutical companies.
- Configured optimum data sources from Arachnys’ 23,000 source library, and third-party premium data suppliers, to provide a single investigative working environment for global teams.
- Implemented a guided step-by-step investigative process for all analysts in all regions to ensure compliance with company processes and policies.
- Go-live from contract signature to fully live platform in one month, including complete training for compliance team users.