6 Steps to Elevate Your
Compliance Program Effectiveness
Leverage AI & Data Analytics to Modernize Your Compliance Program
Our Team
Jim Dawson (SME)
30 years-experience, established and led compliance programs as compliance officer.Thought leader within the compliance space.
Mohammad Ovais (Entrepreneur)
23 years of experience of implementing technology for clients across North America.Known speaker at compliance conferences and webinars.
Salman Kasbati (Orchestrator)
22 years of experience providing software solutions. Served oil & gas, life sciences, financial institutions across the US and EMEA.Known for planning and execution.
Why qordata?
Since 2009, qordata has been serving the life sciences industry with our data-driven compliance solutions, with the sole purpose of serving humanity through meaningful technology solutions.
We have worked with 55+ life sciences clients with an industry-beating NPS of over 70%.
Our passion is to strive towards our vision of compliance teams leveraging technology and data to operate with increased effectiveness and efficiency in running their compliance programs.
We empower the compliance teams with leading edge data-driven solutions, blended with our in-house compliance expertise of 100+ professionals across 4 different time zones.
Penalties And Reputational Risks Await
Total penalties from compliance-related violations have crossed over US $20B since 2000
73% of compliance officers indicate increasing regulatory expectations and scrutiny with boards as well as regulators as the top two sources of pressure
Conventional Compliance
Manual Processes
For monitoring and reporting, this approach can be time-consuming, prone to errors, and less adaptive to regulatory changes.
Reactive Approach
Addressing issues when detected. This may lead to unnecessary delays, causing risks to escalate to critical levels.
Isolated Silos
Different functions operate in silos and manage compliance independently.
Limited Use of Technology
Basic technologies like spreadsheets restricts real-time data analysis and proactive risk management.
Data-Driven Compliance
Automated Processes
For routine tasks and processes, automation ensures efficiency in data collection, analysis, and reporting to the stakeholders.
Proactive Approach
Allows for real-time monitoring of compliance activities to identify control failures, ensuring timely identification of risks.
Cross-Functional Integration
Integrated functions including software systems that are interoperable, providing a unified view of compliance efforts.
AI-Driven Predictive Analytics
Leverage AI for predictive analytics to forecast potential compliance risks, and implement corrective and preventive actions.
Identify and manage risks
- Develop and implement your risk assessment strategy.
- Identify and prioritize your high risk.
- Define your risk mitigation strategy.
- Create a risk mitigation plan.
Automate Compliance Workflows
- Automate processes for risk assessment, mitigation, monitoring; HCP Engagement and other areas.
- Automate routine tasks such as data collection, reporting, and document management.
- Establish automated validation of evolving government regulations and internal policies.
- Focus on areas of highest risk and potential impact, maximizing the return on your compliance investment.
Promote a data-driven compliance culture
- Establish open communication channels with key stakeholders.
- Gain and provide easy access to compliance resources and actionable insights tailored to key roles.
- Share key compliance metrics with key stakeholders.
- Collaborate with key stakeholders to transform insights into actionable strategies.
Leverage AI & Data Analytics for Your Compliance Program
- Leverage data across all functions to identify potential risks and taking corrective actions.
- Leverage AI to proactively predict risks and control failures allowing for preventive measures.
- Provide access to data-driven insights to key stakeholders while summarizing using AI.
Proactively Monitor & Adhere to Government Regulations
- Monitor changes to government regulations and proactively adapt your compliance program.
- Leveraging predictive analytics.
- Engaging external business partners to help identify the impact and take appropriate actions.
Continuously Improve Compliance processes
- Track key performance indicators (KPIs) to assess the effectiveness of your compliance program.
- Explore AI technologies to increase efficiency and effectiveness of your compliance program.
- Conduct periodic reviews of your compliance program effectiveness.
Effectively manage your compliance program using AI-Powered
Data-Driven Compliance Platform
Our Team Is On A Mission To Help You!
If you want to increase the effectiveness of your Compliance Program – let’s jump on a strategy call.
The catch is, we may demonstrate how our Data-driven Compliance Platform can help you.
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