Solutions for Compliance & Governance Professionals
Life sciences companies rely on Reltio for a complete view across all information sources to understand markets, drive revenue opportunities and reduce risk exposure through actionable, real-time predictive insights. Reltio data-driven applications are available for key account management, affiliation management, HCP/HCO master data and more.
It’s not easy being a Compliance Professional! There are constant evolving changes in global data privacy and compliance laws such as GDPR (General Data Protection Regulation.) Coupled with fine-grained rules in regulated industries such as life sciences, accuracy in regulatory reporting of transactions such as those for open payments, EFPIA (European Federation of Pharmaceutical Industries and Associations), sample compliance and adherence with corporate integrity agreements (CIA) are a must.
Your responsibilities go beyond the fines that can be levied on your company, not to mention the thousands of hours lost due to mandated training, and data management to generate complex reports. Beyond these financial challenges, you also have to be concerned about brand reputation, and the security and privacy of your customers, while keeping all of your IT and business teams in coordinated and adhering to standards. We feel your pain!
Reltio data-driven applications keep data safe and secure from an infrastructure and data management perspective, while also providing configurable options that track, audit and report on every click, view, update and merge of data across every source. Reltio has fine-grained, attribute-level tracking for every record stored. With full point-in-time query of information, and the ability to restore and revert values back to it’s original form, Reltio goes beyond any regulatory requirement dictated today.
Rather than just meeting compliance needs, Reltio’s Modern Data Management Platform as a Service (PaaS) allows dynamic analysis of the data, with machine learning revealing relationships and opportunities that can proactively reduce violations, and also help you improve your customer engagement and satisfaction levels. Taking mandated compliance and turning it into an opportunity to personalize, delight and exceed customer expectations.
Some unique capabilities for Data Stewardship and Governance include:
Business Data Stewardship
Comprehensive, configurable DQ and governance built-in
Used by companies across multiple industries with stringent data security and privacy needs (e.g. healthcare & life sciences sector with HIPAA), Reltio customers are able to remediate data, and easily create cases for review.
Data Change Requests (DCR) initiated by frontline business users on mobile devices are entered, prioritized and queued for review in real-time through data-driven apps, integrated with the platform or through their existing CRM app that they know and love. Users can also initiate potential matches on entities for a review process.
IT and business teams on the same page
Everyone uses the same browser-based interface, operating on the same consistent pool of data (no need for separate staging/landing copies that may get out of sync), and granular role based functionality and data access controls. This supports ad-hoc collaboration across teams and structured processes through built-in workflow OOTB which can be configured using a supplied visual workflow tool.
Easy collaboration and communication
No additional tools are needed, Reltio comes OOTB with a choice of work templates for task distribution (e.g. round robin, get next task, allocation by specific record attribute/criteria) managed through a personal task inbox. IT, stewards and users can collaborate by commenting against individual attributes, with Google Docs style “+Joe.firstname.lastname@example.org” mentions that trigger emails delivering comments and links to bring collaborators directly into a review process. Assignment and reassignment is a simple one-click select of next reviewer.
Involving business end-users early and continuously
One of the most unique features of Reltio is rapid and immediate access to the information in context delivered to business users through data-driven apps. This allows for immediate feedback, and business domain support for continuous real-time curation of the data across the enterprise. Users can not only be given the opportunity to correct hard facts, but can vote (yelp or facebook-style) on soft facts such as relationships and affiliations.
Full audit and metrication with dashboards and logs
Dashboards provide statistics of tasks assigned, and a full audit logs, searchable across any combination of criteria, shows work completed, allowing for easy use of gamification (leaderboards), and ongoing training.
Data management is a continuous and collaborative process, with limited resources and always more work than people available. Reltio offers ongoing monitoring of governance and curation efforts. The data gathered helps inform an enterprise which areas can be improved, and can even offer gamification options to make a tedious but necessary job fun and motivating.
Reltio comes with a mobile device-responsive interface that works on any device including your smartphone, supporting customer-facing teams on the field and closed-loop feedback from field on data quality and data change requests.
Full Tracking and Traceability
Full Tracking and Traceability
Through Reltio, everyone in the enterprise, depending on their role and authority, is able to see the status of requests, compare changes made at any point in time, and the complete authorization, workflow and approval chain that drove that request. As an added bonus, being able to compare changes at an attribute-level between any point-in-time is the ultimate goal.
Governance, Industry Support
Configurable industry data and process models
Reltio comes with logical metadata-driven industry data models and other solution accelerators:
Life sciences, Healthcare, Retail, Oil & Gas, Media & Entertainment, Food Distribution and more
A leading end-to-end system integration company used a legacy, on-premises MDM to manage their supplier data but found it unscalable for improving business operations in the aftermath of a merger.
A global company specializing in internet connection services continued to expand into the European region. However, the legacy MDM didn’t allow them to manage transaction and interaction data
10 Steps to GDPR Compliance
Effective May 25, 2018, General Data Protection Regulation (GDPR) will represent the most rigorous data protection regulation ever. Complying is not optional, and the penalties are very high. As companies scurry for total compliance, it makes sense to pause, assess, and use this opportunity not only for compliance but for managing customer data efficiently and gainfully.
MACHINE LEARNING PUTS DATA FRONT AND CENTER FOR BUSINESS
Machine learning is surrounded by fascination and awe. It can drive better personalized experiences with customers, increase workforce effectiveness, and de-risk your organization from security threats and regulations. But, machine learning needs quality data, relevant data, and better context surrounding transactions, interactions, operations and decisions.
Businesses Feeling the Heat of the ‘Amazon Effect’
Over the past 10 years, Amazon’s market value has grown more than 2,000 percent. The entire retail industry is feeling the heat, and companies are investing in digital transformation initiatives to help them compete. Walmart, for example, is rapidly investing in digital capabilities and online brands (it acquired Jet.com, for example).
WHY MASTER DATA MANAGEMENT AND MACHINE LEARNING GO HAND IN HAND
Reltio’s inclusion in the The Forrester Wave™: Machine Learning Data Catalogs Q2 2018, by Michele Goetz with Gene Leganza, Elizabeth Hoberman, and Kara Hartig, Forrester Research, June 2018, sparked (pun intended) several questions. Such as why was Reltio included, how did we receive such strong marks, and why were we the only Master Data Management (MDM) vendor in the Wave?