How One Company Saved Millions And Streamlined Processes With RegDesk
Situation
A global health and wellness medical device company with over $2B in annual revenue needed to streamline its complex registration process due to the number of countries and divisions involved. In addition, they wanted to gain control over their data which was in disparate sources and spreadsheets.
Compounding complexity made their processes arduous, time-consuming, and prone to errors. Moreover, it was difficult to understand the performance of the registration process and even more difficult to use that data to make informed decisions.
Objectives
When this client started looking for a solution to streamline their global registration process, they had five key objectives which were:
- Track the status of all global registrations
- Automate their registration process
- Provide real-time visibility to key stakeholders
- Generate key reports efficiently
- Alert users of any changes in data automatically
- Improve accuracy and reduce manual errors
Why They Chose RegDesk
One of the most important things for this company was to reduce the complexity they were facing. Therefore, they wanted a modern, elegant solution to streamline their regulatory tracking process to efficiently monitor status, analyze data and store the myriad of documents involved in their process.
By implementing RegDesk’s holistic Regulatory Intelligence Management System (RIMS), they were able to:
- Automate tracking to ensure they met regulatory requirements on time
- Visualize their regulatory information simply with an intuitive dashboard
- Generate reports automatically for their regulatory obligations
- Meet deadlines efficiently
- Receive automated renewal notifications
- Reduce paperwork and low-value manual tasks
Results
This well-known, global brand not only saved countless hours and reduced errors, but also saved millions of dollars in lost revenue because they were fully aware of their renewal deadlines.
Summary of Challenges
- Potential for lost revenue by missing critical deadlines
- Complexity due to managing multiple countries and divisions
- Disparate data sources
- Time-consuming and error-prone processes
- Lack of reporting and insights into performance
Summary of Results
- Saved millions of dollars in lost revenue by meeting regulatory deadlines
- Accelerated their time to market
- Improved the quality of their submissions
- Accessed all of the necessary documents in a single platform
- Eliminated future risk of missing essential deadlines
- Increased the team’s productivity
