In any industry, there are a number of key concerns which have to be addressed in order to maintain compliance and safeguard your company from risks. In the life sciences industry, these concerns are even more pressing given the high standards for security and regulatory oversight.
A managed security service provider can assist you in meeting these challenges to ensure your life science organization meets regulatory compliance regulations, while protecting your data and networks.
What is an MSSP?
A managed security service provider (MSSP) is a third-party cybersecurity provider which specializes in managing and safeguarding the network and assets of companies, including systems, data and people. MSSPs can offer a wide range of services, including:
- on-site protection
- remote monitoring
- incident response
- data backup and recovery
- vulnerability assessment
- threat intelligence analysis and response
- and much more
By partnering with an MSSP, life science companies can reduce costs, minimize risk exposure and improve the overall effectiveness of their security programs and IT infrastructures.
Life science and regulatory compliance: why does it matter?
Regulatory compliance is a top priority for any organization which develops, manufactures or distributes drugs, biologics, medical devices and medical supplies. As such, it is an essential part of the life science industry. In order to work in this field, you need to be legally compliant with all of the relevant rules and regulations, including HIPAA, the FDA, GMP regulations and other government agencies. It can also include local laws and guidelines, as well as industry standards for quality control and safety.
Regulatory compliance is so important because it helps ensure products are safe and reliable. It also protects life sciences companies from legal liability.
Life science companies are subject to extensive regulations in the areas of safety, efficacy, process validation, clinical trial performance and manufacturing site qualifications. In addition to regulatory compliance tasks, life science organizations need to be involved in ongoing research and development projects to ensure their products meet the needs of customers.
As part of the regulatory compliance program, it’s important to track all activities related to clinical trials and other regulated activities.
MSSPs and regulatory compliance: how can they help?
c8b04fe" data-element_type="widget" data-widget_type="text-editor.default">By outsourcing to an MSSP, they can streamline your life sciences’ regulatory compliance requirements by providing services such as:
- data protection
- corporate network security
- access control risk assessment
- employee training
- incident response
An MSSP’s main goal is to keep your company’s data safe and secure, while simultaneously ensuring all employees comply with relevant regulations. By providing these services, MSSPs can help your organization become more compliant and reduce the risk of fines and penalties. This will ensure your business is running in an environment which complies to all applicable laws and regulations.
MSSPs can also help reduce the cost and complexity associated with managing regulatory compliance requirements. They are a source of expertise as they have been working with regulated industries for many years, and have in-house experts who can provide guidance on specific regulations or processes. This allows them to provide customized solutions to meet the unique requirements of each client.
Why should I outsource my regulatory compliance management?
Life sciences organizations face increasing pressure to modernize their compliance by taking on digital transformations to utilize evolving technologies that will enhance their compliance monitoring. A recent report by Deloitte stated transformative technologies such as robotic process automation, natural language processing and generation, predictive analytics, and artificial intelligence and machine learning will improve an organization’s ability to protect its business.
However, undergoing a digital transformation is a lengthy and time-consuming process, involving the study and review of new technologies and evaluating which are most suitable to your business’s specific compliance details.
An MSSP is perfectly positioned to handle your life science company’s digital transformation. They’re well-positioned to take on these challenges because they have the expertise in IT infrastructure, data center operations and automation required to make digital transformation a success.
Some businesses choose to outsource regulatory compliance management because they want to focus on other things, like growing their business. Others chose to outsource regulatory compliance management because they can’t afford the time or resources to do it themselves.
Your partner for a secure, digital future
A managed security service provider is a trusted partner which can help you maintain compliance with regulatory requirements. They can take care of all of the compliance requirements for your digital data and help you prevent potential issues from arising.
BCS365 specializes in providing regulatory compliance management, guidance and digital transformations for life science companies. Talk to them today about your organization’s unique needs, and how they can future-proof your business.