Life Sciences Industry
Successfully Navigate Risk, Compliance, and Cyber Risk Challenges
Life Sciences Industry
Measure Your Program Outcomes
- 90%
reduction in the time taken to manage compliance activities
- 80%
improvement in
risk and control
framework-related operational efficiency
- 67%
improvement in risk reporting visibility and efficiency for the executive management and board
Boost Risk and Compliance Visibility and Ensure Better Outcomes
Pharmaceutical, medical devices, and clinical research companies face an increasing amount of regulatory scrutiny and risks. Over the last few years, organizations have paid substantial fines for non-compliance. Regulators worldwide have started multiple initiatives to get lower-cost drugs and devices to market and accelerate the R&D process. Organizations are transforming their approach to research, clinical trials, manufacturing, supply chain, patient engagements, and promotions which impacted their overall risk profile. MetricStream helps life sciences companies adopt an integrated approach to GRC to effectively manage risk, compliance, audit, cyber risks, third-party, and business continuity programs, enabling resilience and assurance to management, the board, and regulators.
How MetricStream Software Solutions Help You
Implement an Integrated Approach to Risk Management
Efficiently manage and mitigate multiple types of risk, including enterprise risk, compliance risks, quality risks, device risks, marketing risks, and others. With MetricStream Enterprise Risk Management, establish a comprehensive risk strategy that automates risk identification, assessments, monitoring, and acceptance across all the various business units and functions as required. Improve risk visibility and foresight, gain real-time insights, and prioritize investments and actions based on the quantified impact of risks.
Keep Up with Evolving Regulatory Compliance Obligations
Easily navigate the complex web of regulatory requirements governing life sciences organizations. Strengthen compliance by effectively tracking and managing regulatory changes with MetricStream Regulatory Compliance. Adopt an integrated approach to stay on top of changing regulatory obligations, simplify and streamline the management of policies, perform compliance assessments, and manage cases and regulatory audits. Reduce the cost of compliance and eliminate process inefficiencies and redundancies.
Gain Visibility into Third-Party Risk Exposures
Gain an integrated, real-time view of risks across all third parties, including vendors, suppliers, and contractors. Monitor and manage the risks associated with extended enterprise alongside other risks and protect your business from existing and potential threats from third and related fourth parties. MetricStream Third-Party Risk Management simplifies managing risk and compliance across the third-party lifecycle, including onboarding, due diligence, continuous monitoring, performance management, and offboarding.
Strengthen Cyber Resilience
Gain a 360-degree, real-time view of IT and cyber risk, threats, vulnerabilities, and associated controls across the organization. Simplify the identification and analysis of multiple risks in IT operations and contextualize IT risks based on the associated processes, business units, and IT assets. With MetricStream CyberGRC, ensure alignment in strategy and minimize potential issues while adhering to compliance regulations and frameworks such as ISO 27001, NIST CSF, NIST SP800-53, and others all in one place.
How MetricStream Benefits Your Business
- Strong risk-based decision-making and governance across the entire enterprise with accurate and timely risk insights
- Reduce compliance violations and fines, improve confidence with regulators and executive management through a robust, integrated approach to risk, resilience, and compliance
- Gain real-time visibility into IT and cyber risks, threats, and vulnerabilities, and prioritize risk mitigation measures and investments
- Proactively manage third-party, supplier, and vendor risks by automating onboarding, due diligence, continuous monitoring, and more
Related Resources
Frequently Asked Questions
Life sciences organizations, including pharmaceutical, biotechnology, and medical device companies, face GRC challenges that span multiple dimensions: complex regulatory environments related to pricing, marketing, quality, and safety; growing dependence on suppliers and third-party vendors that increases financial and operational risk exposure; sophisticated OT-based cyberattacks; and the need to govern advanced technologies like AI while addressing ethical, privacy, and security concerns. According to the 2024 Ponemon Healthcare Cybersecurity Report, 92% of healthcare organizations faced at least one cyberattack in the past year.
MetricStream's Regulatory Compliance solution helps life sciences organizations navigate the complex web of regulatory requirements governing the industry. The platform enables teams to track and manage regulatory changes, adopt an integrated approach to compliance obligations, simplify and streamline policy management, perform compliance assessments, and manage cases and regulatory audits. This reduces the cost of compliance, eliminates process inefficiencies and redundancies, and helps organizations demonstrate regulatory readiness to auditors and regulators.
MetricStream's Enterprise Risk Management solution enables life sciences companies to manage and mitigate multiple risk types, including enterprise risk, compliance risk, quality risk, device risk, and marketing risk, through a comprehensive risk strategy. The platform automates risk identification, assessment, monitoring, and acceptance across all business units and functions, improves risk visibility and foresight, and enables organizations to prioritize investments and actions based on the quantified impact of risks.
MetricStream's Cyber GRC solution gives life sciences organizations a 360-degree, real-time view of IT and cyber risks, threats, vulnerabilities, and associated controls. The platform simplifies identification and analysis of risks in IT operations and contextualizes IT risks based on associated processes, business units, and IT assets. Organizations can align with compliance frameworks such as ISO 27001, NIST CSF, and NIST SP800-53, all within a single, unified solution that minimizes potential issues and strengthens cyber resilience.
MetricStream's Third-Party Risk Management solution provides life sciences companies with an integrated, real-time view of risks across all third parties, including vendors, suppliers, and contractors. The platform monitors and manages risks associated with the extended enterprise, protects against existing and potential threats from third and fourth parties, and simplifies managing risk and compliance across the full third-party lifecycle, from onboarding and due diligence through continuous monitoring, performance management, and offboarding.
MetricStream's AI-first GRC approach enhances resilience for life sciences organizations by accelerating routine GRC tasks, enabling predictive insights, automating regulatory compliance workflows, and delivering combined assurance to senior management, boards, and regulators. With real-time data connections and advanced AI capabilities, the platform enables life sciences companies to proactively identify emerging risks and optimize controls across the enterprise, supporting both regulatory adherence and operational excellence.
MetricStream helps life sciences organizations reduce compliance violations and fines by providing a robust, integrated approach to risk, resilience, and compliance management. The platform enables organizations to proactively identify compliance gaps, streamline compliance assessments, strengthen control frameworks, and demonstrate a consistent compliance posture to regulators. This builds confidence with executive management and regulatory bodies while minimizing the financial and reputational costs of non-compliance.
According to MetricStream customer responses and the GRC Journey Business Value Calculator, life sciences organizations using MetricStream have achieved a 90% reduction in the time taken to manage compliance activities, an 80% improvement in risk and control framework-related operational efficiency, and a 67% improvement in risk reporting visibility and efficiency for the executive management and board. These outcomes reflect the platform's ability to streamline compliance, strengthen risk governance, and improve executive decision-making.
As life sciences companies shift from product-centric to patient-centric models and accelerate personalized medicine and therapies, they face new challenges across supply chains, clinical trials, manufacturing, and regulatory compliance. MetricStream's integrated GRC platform helps organizations manage these evolving risks by connecting data, processes, and teams across compliance, cyber, and third-party risk functions, ensuring that governance keeps pace with scientific innovation and patient safety remains the top priority.
MetricStream's GRC platform is designed for pharmaceutical companies, biotechnology firms, medical device manufacturers, clinical research organizations, and other life sciences entities operating in complex regulatory environments. Organizations that depend heavily on third-party suppliers, manage significant IT and OT risk exposure, or are adopting AI and advanced analytics in their operations benefit most from MetricStream's connected, AI-first approach to governance, risk, and compliance management.
