“This model has exceeded our expectations.We very much like the consistent assessment criteria…
… [which] helps us feel confident in the scope of the audit. When I do the math and calculate the average cost per audit, it comes out to be lower than what I would spend on a standard, routine audit.
The readily available VQAs [audit reports] and RFIs have shortened the time to qualification.”
The Challenge
- Cerevel faced a significant vendor qualification backlog for key services and sought a solution to relieve the associated time & cost burden.
- Additionally, the disparity in approach and experience of 3rd party auditors resulted in difficulty in identifying qualification risks.
The Diligent Solution
- Implemented Diligent Pharma subscription to support risk-based provider qualification activities for pre-qualified Providers (i.e., access to RFIs & Audit Reports).
- Conducted Diligent qualification of new Providers of interest.
- Leveraged use of RFI comparison tool to view and evaluate Provider risks.
- Leveraged RFI Risk Scoring services to assess relative vendor risk profiles.
- Participated in pre-scheduled audits.
Our Impact
- Internal audit staff freed up for higher priority activities and scheduling flexibility.
- 64% reduction in audit costs compared to industry averages.
- Qualification timelines reduced from 90+ days per provider to 2-3 days.
- Increased regulatory compliance & risk management by leveraging Diligent process and approach.
- Leveraged Diligent for requalification activities as well as new qualifications.
