When we discuss Quality Risk Management, we often focus on the operation, shop floor side of the processes. Today we’ll talk about some of the key aspects of QRM for the top-tiers of the Pharmaceutical Companies and how bringing the digital transformation to Global QRM can have a major impact.

Let’s look again at Digital Transformation

Most research tells us that the pressure to digitise business models and products is still going strong.

However, while digitisation is part of the process, it falls short of digital transformation and the business opportunities it can bring.

digital transformation
Digitisation is the first step. However, it won’t help you reap the benefits of digital transformation.

This is due to silos and fragmentation. Having many separated and different processes will make it difficult to extract any benefits. More even so if your company has a global dimension.

Challenges will come in the shape of collaboration, integration, sourcing, or project management.

But when you have a business application capable of integrating both the data and digitised applications, you will be able to save time, resources and grow faster.

We can look at this from many angles, but our favourite is the Digital QRM perspective.

How can Global Pharma benefit from Digital QRM

Now that we (re-)established the grounds for Digital Transformation, let’s see what Digital QRM can do for Corporate Pharma.

First of all, it can provide global decision-makers with clear, straightforward information on risks. This will enable improvement opportunities on one hand and allow them to measure the efficacy of the actions taken on the other.

But then, it enables better business results by facilitating cross-functional and cross-company cooperation.

Last, but not the least, it makes sure that the Risk Management’s potential to support business process excellence is used to its fullest extent.

What tools aspects are key in this Digital QRM Platform

Global Overview

When all your systems are connected to a Digital QRM platform you can gain global overview. That is, you can know what is going on with the risks in your business as a whole and in each of your sites in specific.

Easy Access

As a consequence of Global Overview, you have easy access. A good Digital QRM platform will let you navigate seamlessly through different business areas, users or risks.

Why is this important? Because it will let you make the comparisons you need quickly regarding the business decisions you need to take.

Visualisation tools

A unified platform will bring together all the data from your organisation – business and sites. This is an opportunity to build advanced visualisation tools that support, in real-time, your decision-making process.

Effective management of risk information

The last stage of Risk Management for Corporate Pharma is the escalation (or de-escalation) of risk decisions to different hierarchical levels.

Having global access to change requests, budget request approvals or any kind of reports in a streamlined and organised manner has a whole lot of business benefits in terms of efficiency and effectiveness.

irisk

How does 4TE support Digital QRM for Global Pharma Management

4TE has a strong expertise in creating digital infrastructure to help organisations manage their risks.

To support the risk management of the global management in Pharma companies, we recommend our proprietary software, iRISK™: Risk Register.

iRISK™: Risk Register is a collaborative platform prepared to streamline upper management Risk Management, whether we’re talking of the whole business, or just a site.

Our work on Risk Management Digitalisation

If you’d like to see more of our work on Risk Management Digitalisation, take a look at this blog post on how Business Continuity can be improved with Digital Risk Management.