QUMAS At-A-Glance
Challenge
Organizations in highly regulated industries face a common problem that cuts across their compliance activities: how to capture, assess, and manage compliance risk. Today, compliance, risk and business managers are unable to proactively capture and/or remediate regulatory violations across the enterprise in a consolidated and consistent way. Organizations are further challenged to establish and enforce a systemic process for capturing events. Those companies that rely on paper-based systems, spreadsheets, etc., find it extremely difficult to access information that is fragmented across departments and geographies. Even when an organization proactively catches an issue, it must also be able to provide documented evidence to auditors that it was successfully remediated and an ongoing process with effective controls is in place to mitigate risks in the future.
Overview
QUMAS delivers a closed-loop compliance model that standardizes and integrates the common elements of compliance tasks across the organization. Enterprises are able to effectively converge all of their compliance programs onto a single platform, radically reducing the cost of compliance and creating competitive advantage. With its proven track record in two of the of the most stringently regulated industries - financial services and life sciences - QUMAS has proven that it is best positioned to provide centralized compliance for any company, regardless of industry. Its solutions ensure corporate compliance with the full spectrum of global regulations.
Value proposition
The QUMAS solution facilitates an informed, risk-based response to compliance challenges across any business. The QUMAS Compliance Framework channels and focuses resources, providing certainty to a company's state of compliance as well as meaningful reporting to stakeholders. The result is an optimized closed-loop compliance environment.
With the QUMAS closed-loop compliance environment, the goal is to provide organizations with a complete and comprehensive view of compliance and serve as the compliance system of record when dealing with regulatory bodies.
A closed-loop compliance approach provides continuous compliance activities for tighter business process control and performance.
QUMAS Products
Customers
Focused primarily on the life sciences and financial services industries, QUMAS products are used by over 250,000 people across 29 countries.
More than 80 life sciences clients rely on QUMAS to automate quality and regulatory processes including:
- Eight of the top biopharma companies
- Five of the top medical device companies
- 20+ customers using software on the R&D side of the business
The "Big Three" financial titans in asset management, wealth management, and investment banking, rely on QUMAS to operationalize policies and procedures and automate regulatory processes.