Industry Leaders Comply with Complex Disclosure Reporting and Transparency Requirements with Out-of-the-Box, Life Sciences SaaS Solution
PARIS--(BUSINESS WIRE)-- Cegedim Relationship Management today announced that four out of the top-ten global pharmaceutical companies utilize AggregateSpend360™ to manage compliance with disclosure reporting and transparency regulations and laws. These select companies join the ranks of 25 other AggregateSpend360 customers — continuing Cegedim Relationship Management’s position as the market share leader for aggregate spend solutions.
Ever Growing Global, Regional & Local Compliance Regulations
The global trend towards expense transparency has created a need for Life Sciences companies to track and report on expenditures to health care practitioners (HCPs) more than ever before. This growing trend is being driven by a mixture of disclosure and anti-bribery laws in various countries around the world. The complex arena of aggregate spend reporting is coupled with a new host of local, national, regional and global regulations which include: the Patient Protection and Affordable Care Act (PPACA), Section 6002 (formerly known as the Physician Payments Sunshine Provisions) in the US; the US Foreign Corrupt Practices Act (FCPA) and the UK Bribery Act which have international applicability; French regulations which will likely be enacted this year; and budding guidelines and regulations within the APAC region. The inflation of regulations widens the level of risk for companies from financial to reputational to penal, with imprisonment of executives possible in certain cases.
AggregateSpend360 addresses the increasingly difficult requirements of disclosure reporting on expenses associated with marketing activities, clinical trials, samples, gifts and payments to Health Care Providers (HCPs) through its powerful data processing and prebuilt templates that allow clients to automatically generate reports per each regulation. It is an out-of-the-box, SaaS solution that enables users to not only achieve compliance and avoid penalties, but also save time and streamline processes.
Proven Regulatory Compliance Expertise & Experience
Cegedim Relationship Management is cited as the global market share leader for Life Sciences aggregate spend solutions in a recent IDC Health Insights report entitled Business Strategy: Aggregate Spend Compliance — The Next Frontier of Pharmaceutical Sales and Marketing. The company was the first-to-market with an aggregate spend reporting tool in 2006, and today clients continue to benefit from 20-plus years of market leading regulatory consulting services and comprehensive local, national, regional and global compliance capabilities. This valuable solution is available in the U.S., Europe and selected countries in Asia Pacific.
“In the evolving landscape of the Life Sciences industry, companies around the globe are devoting more resources to secure, cost-effective compliance solutions to avoid penalties,” said Bill Buzzeo, Vice President of Global Compliance Solutions at Cegedim Relationship Management. “Our clients benefit not only from the ease of implementing and running this solution, but also from our strong knowledge-base and the experience of our regulatory compliance staff, as well as our unique ability to provide a solution that supports local, national, regional and global transparency.”
To further enhance the AggregateSpend360 offering, Cegedim Relationship Management integrates Nucleus 360™ for Master Data Management (MDM) and OneKey® renowned data services to create its market leading Compliance as a Service solution.
|About Cegedim Relationship Management:||
Cegedim Relationship Management is the Life Sciences industry’s leading provider of Customer Relationship Management (CRM) solutions. Designed specifically for Life Sciences, the company’s innovative business solutions incorporate a thorough understanding of local, regional and worldwide trends. Cegedim Relationship Management enables more than 200,000 users in many of the world’s most innovative companies to stay ahead of market challenges. In addition to CRM, Cegedim Relationship Management also provides marketing, data optimization and regulatory compliance solutions in more than 80 countries. Cegedim Relationship Management is part of the France-based Cegedim S.A. Group.
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Founded in 1969, Cegedim is a global technology and services company specializing in the healthcare field. Cegedim supplies services, technological tools, specialized software, data flow management services and databases. Its offerings are targeted notably at healthcare industries, life sciences companies, healthcare professionals and insurance companies. The world leader in life sciences CRM, Cegedim is also one of the leading suppliers of strategic healthcare industry data. Cegedim employs 8,500 people in more than 80 countries and generated revenue of €927 million in 2010. Cegedim SA is listed in Paris (EURONEXT: CGM).
To learn more, please visit: www.cegedim.com
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