6 TECH OUTLOOKDecember - 2020EditorialStacey Smith Editor-in-Chiefeditor@pharmatechoutlook.comThe pharmaceutical industry is currently experiencing times of heightened regulatory scrutiny across the globe. This scrutiny is taking place in several areas, which include income and marketing practices, drug charge reporting, or the privacy of a patient. And most pharmaceutical businesses are going through the tough balancing act of using business innovation and achieving goals while simultaneously mitigating compliance risk.Given the nature of regulatory compliance, its importance to the pharmaceutical sector becomes clear. The criticality of ensuring people's wellbeing is precisely where the significance of regulatory compliance in pharmaceutical organizations needs to be understood. Recent research findings suggest that effective compliance programs cannot be artificial or assigned as `add-ons' to legal or other departments. Instead, they must grow out of an organization's business goals and become ingrained in their culture. With today's evolving business models, compliance risk has become more interconnected and complex, creating a unique challenge for pharmaceutical companies. Amid this state of affairs, companies are increasingly looking for compliance automation solution and service providers to help them bring more significant control over applicability, legal updates, and real-time status tracking. A skilled regulatory compliance solution and service provider will help them perceive root causes, enhance corrective and preventive action plans, and mitigate associated risks effectively, without taxing the company's internal resources. Pharma organizations assisted by solution and service providers have reported considerable maturity in their organizational compliance program. As a domino effect, organizations are now gaining access to the real-time status of thousands of compliance submissions without spending any non-productive time in follow-ups. To make the most of this indispensable part of business operations, multiple organizations need that leading-edge partner to reduce costs and ensure regulatory approvals. We hope this edition enables you to find the right compliance solution and service to stay ahead of the competition.Let us know your thoughts.Compliance to Enrich LivesCopyright © 2020 ValleyMedia Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.DECEMBER - 18 - 2020, Vol 06 - Issue 32 (ISSN 2644-2787) Published by ValleyMedia Inc. To subscribe to Pharma Tech OutlookVisit www.pharmatechoutlook.com *Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEditor-in-ChiefStacey SmithVisualizerAsher BlakeEditorial StaffAaron Pierce Ava GarciaJenna VegasCarolynn Walters Justin SmithPaul BarberSalesBrian Thomasbrian@pharmatechoutlook.comsales@pharmatechoutlook.comeditor@pharmatechoutlook.commarketing@pharmatechoutlook.comEmail:John GothamTECH OUTLOOKTECH OUTLOOK
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