Top executives of regulated companies are increasingly under pressure to be accountable for their organizations' regulatory compliance, making product quality and safety part of the executive quality management purview. From CEOs and CFOs to Senior VPs and VPs, the ranks of executives in regulated companies are getting more involved in quality and compliance.
Watch the video below to see executive's perspective on quality and document management systems, and how they help comply with strict regulations and streamline quality processes.
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The smart executive understands that regulatory compliance is part of doing business in the competitive global market. It is an essential aspect of his or her executive quality management responsibilities.
For life science companies, it is not enough to invest vast sums of money in developing novel drugs, medical devices, and therapies. It is just as important to ensure that those innovative products are safe and compliant. Without the appropriate marketing authorization or approval from the appropriate regulatory body, even the most cutting-edge therapy will simply not see the light of day. If you are an executive in a regulated company, the question is: Have you made compliance part and parcel of your executive quality management responsibilities?
While generating profits is critical for any competitive organization, equally important is reducing costs and optimizing resources. For top executives of regulated companies, this includes reducing overall compliance costs and making cost reduction a part of their executive quality management purview.
An area that can easily drain precious compliance budget is quality management. Many companies that maintain paper-based quality processes think they are saving money by doing things manually. In fact, paper-based processes waste time and money because of manual errors, delays, and other inefficiencies that should be a consideration in senior management's executive quality management responsibilities.
Regulated companies, especially those that are competing globally, are increasingly switching from manual to electronic quality management system to remedy the most common inefficiencies in their daily operations. Executives realize that they can leverage technology for both efficiency and compliance.
Accountability is key to any top executive's corporate role. For regulated companies, accountability expands to the area of quality and compliance, which is at the heart of product safety. MasterControl understands that cost and compliance are essential components of executive quality management goals.
For busy top executives, it is not just what they have to do, but what they don't have to do that counts. Here is MasterControl's "Do Not Do List" for top executives:
To learn more about executive quality management and MasterControlâ€™s quality management software, please contact a MasterControl representative.