Life sciences companies frequently leverage third-party partners to help produce and commercialize their products. While there are many benefits related to these relationships, there are risks that also should be weighed. In particular, risks associated with monetary contract compliance are especially important as failure to properly oversee these agreements could mean costly contractual missteps and lost profits. To uncover these risk areas, a comprehensive contract compliance audit should be completed on existing contracts to ensure optimal compliance.
The video below provides important insight around key triggers to prompt a contract compliance audit as well as the benefits of having a robust contract management strategy. For additional information on this topic, check out the infographic below.
