Pharmaceutical & Life Sciences

Third-Party Risk Management and Compliance Solutions for the Pharmaceutical and Life Sciences Industry

With increasing geographical expansion, pharmaceutical and life sciences organizations must often rely on third-party intermediaries for promotional and non-promotional activities. Regulations such as the US Foreign Corrupt Practices Act and UK Bribery Act have made it clear that outsourcing an activity doesn’t transfer responsibility for ensuring compliance. Simultaneously, governments and associations are enacting or revising other regulations and standards that cover a multitude of risk domains, from consent and data privacy to supply chain. In a world of long product cycles, pharmaceutical and life sciences are under pressure to bring products to market while efficiently navigating these compliance pressures.

Aravo Third-Party Risk Management

Aravo’s cloud-based application is designed to help pharmaceutical and life sciences firms manage third-party relationships in accordance with increased and expansive regulatory expectation.

Customer Success

Three of the five largest pharmaceutical companies in the world, work with Aravo to manage, track, and mitigate third-party risk. One of those pharmaceutical giants reported they were able to reduce third-party onboarding time by more than 90% by using Aravo to manage 40,000 third parties in 100 countries and 33 languages.