Global Spend Transparency Reporting Services
Global Spend Transparency Reporting Services
Baker Tilly’s life sciences team has more than 15 years of experience delivering global spend transparency services to life sciences, medical device and pharmaceutical companies. We specialize in taking what appears to be a complex web of disparate source systems, data and requirements and simplifying it through a streamlined approach.
Our specialized professionals have a deep understanding of spend transparency regulations from states, Open Payments in the US, and global spend transparency requirements through EFPIA, French Sunshine Act and other countries with spend transparency laws. We know reporting needs from what to where to when.
The spend transparency environment continues to evolve and expand in both complexity of requirements and new geographies. Once a company thinks it has its transparency solution in place, a new country or trade organization joins the mix, requiring changes to business operations and systems. As such, the industry needs flexible, scalable solutions which allow companies to be agile and pivot when necessary.
Aligned solutions
We understand organizations need solutions aligned with their stage of maturity and can advise companies on the type of solution needed at each stage of development:
- Conduct assessment and spend discovery exercises to identify all available data and related sources for aggregation
- Create tactical roadmaps to transition from current state to future state spend transparency solutions to ensure compliance with all relevant requirements
- Develop spend transparency policy and procedure documentation
- Develop assumptions documents based on clients legal interpretations
- Deliver aggregate spend data analytics and visualization
- Integrate spend transparency systems, including defining all system functional requirements
- Support spend transparency via outsourced services, including data aggregation, data quality and remediation, data stewardship, report formatting and preparation as well as submission
- Monitor, and communicate client alerts regarding, changes to existing spend transparency requirements as well as new, emerging spend transparency laws around the world
Protecting your value
Our focus on value protection means we remain engaged with our clients to support their ongoing strategy execution, but advise on ways to execute the right way, within the spirit of spend transparency guidelines.