Today’s life sciences and healthcare providers manage thousands of complicated, global third-party relationships, from R&D through product sales and distribution.
They’re vital, yet introduce major risks, from global bribery and corruption to GDPR compliance, to vendor/supplier and data privacy risks, potential HIPAA violations and beyond.
Without a third-party risk management (TPRM) strategy and technology platform to address your third-party risk, your enterprise can face significant consequences – from data breaches to fines to damage to brand and shareholder value.
Manage your third party risk more effectively, with Opus. We can help you:
Hiperos 3PM™: An award-winning, market-leading solution to Life Sciences challenges
As today’s Life Sciences and Healthcare providers converge into full-scale life sciences enterprises, the opportunities are multiplying – and so are the challenges, including:
- Global bribery and corruption, including stringent FCPA violation enforcement and DoJ/SEC oversight
- Vendor/supplier risk from lack of visibility into customers and suppliers across the extended life sciences enterprise
- Information security risks to sensitive PII and PHI and potential HIPAA violations
- Fragmented data, processes and technologies, which can result in regulatory exposure as well as a major drain of time and resources
- Applying stretched resources to more effectively identify and act on third party risk priorities
With Hiperos 3PM™ you can:
Create a single, accurate view of your third parties across multiple data sources
Collect third party data across your enterprise and answer the most important question first: who I am doing business with? Accurately identify all your third parties - then manage, assess and monitor them.
Understand your third party relationships and automatically manage and monitor them in accordance with their risks
Take a risk-based approach to your third parties and intermediaries - applying appropriate due diligence and risk assessment. We'll help you tailor your approach based on your organization's risk tolerance and model - and can even complete assessments for you.
Improve efficiency, effectiveness and reduce silos
Through automated technology, Life Science can reduce inefficiencies and duplicative efforts. Continuously assess, monitor and manage third parties from onboarding through risk determination, compliance requirements and performance, across even the largest life sciences organizations.
Life Sciences Regulations
Hiperos 3PM ensures compliance with many Life Sciences regulations requiring third party management including:
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Manage Third Party Risk in Life Sciences with Hiperos 3PM
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Managing risk to stay ahead in a fast-moving, complex, and highly regulated space
Tackling Third Party Risk Challenges in Life Sciences and Beyond
Join renowned industry analyst Michael Rasmussen from GRC 20/20 for this webinar on managing third party risk and compliance in today's global life sciences business environment.