Read the latest insights from the Camms team.
Adam Collins | October 2, 2020
We are excited to announce that our industry recognized Risk Management Software Solution, Camms.Risk, was yet again named as a “High Performer” in the GRC software category by G2 in their Fall 2020 report. This marks the 3rd consecutive quarter in 2020 Camms.Risk has been recognized by G2 in its quarterly Grid report.
Daniel Kandola | October 1, 2020
Transferring products from A to B quickly and efficiently is the name of the game in the constantly moving world of transportation and logistics. Unfortunately, a myriad of variables means this process is rarely as easy as ABC at the best of times – and 2020 is proving more algebra than alphabet. Navigating a clear course within the sector has never been so challenging. Existing risks have been overshadowed – or in some cases accelerated – by an unprecedented global event that has brought the importance of organisational resilience into sharp focus: the COVID-19 pandemic.
Beau Murfitt | September 25, 2020
Major banking institutions have been at pains to stress their determination to overhaul their ability to combat financial crime of late – following a string of high-profile corruption scandals. Unfortunately, these claims appear to be words without substance after a disturbing tale of leaked documents, dirty money, and international crime emerged – one that sounds more like something from a Netflix crime drama than the world of regulatory compliance.
Daniel Kandola | September 17, 2020
The rapid spread of the COVID-19 pandemic has completely blindsided society in 2020, with devastating effect. But was this cataclysmic event a black swan? It appears not. According to the National Risk Register – an overview of the risks of major emergencies that could impact the UK in the next five years – the threat of a pandemic was firmly on the government’s radar: “experts agree that there is a high probability of another influenza pandemic occurring, but it is impossible to forecast its exact timing or the precise nature of its impact.” In fact, of all the high consequence risks outlined in the register – from severe weather to terrorist attacks – a pandemic was considered to have the highest potential impact.
This threat wasn’t classified information reserved for senior figures in Whitehall; it had filtered down to local government level. Take Camden Council, for example, which – like other local authorities – already had information about pandemic risk fed to them by Public Health England. Camden subsequently rated a ‘pandemic flu’ as a 4/5 likelihood and 5/5 for potential damage on its risk register – proof that more high-profile risks like terror and cyber-attacks weren’t their only focus when it came to organisational resilience.
Daniel Kandola | September 10, 2020
What a difference a year can make. Cast your mind back to 2019: the global defence sector was on the offensive due to budget increases and military modernisation was the plan of attack, as growing security concerns forced governments to invest heavily in new equipment. So much so that international defence expenditure was forecast to grow between 3% and 4% in 2020 to reach an estimated US$1.9 trillion – driven by increased spending in the US, Russia, China and India.
Daniel Kandola | September 2, 2020
Successful organisational resilience relies heavily on the four sights: insight, foresight, oversight and hindsight. Unfortunately, anticipating and preparing for sudden
Warwick Kirby | August 24, 2020
McKinsey & Company published an insightful article in March 2020 – Beyond coronavirus: the path to the next normal.
Kevin Sneader and Shubham Singhal stated, that to win the war against Coronavirus required action across five horizons: Resolve, Resilience, Return, Reimagination, and Reform.
Brad Smith | August 5, 2020
The impact of the massive global disruption from the COVID-19 pandemic during 2020 has been felt in virtually every organizsation, workplace, and household around the world. With or without an effective vaccine, the pandemic’s far reaching impacts will be felt globally for some time to come.
Brad Smith | July 28, 2020
We all know that reporting safety incidents in the workplace is essential to managing risk, but with the advent of COVID-19 the relationship between risk and incident has taken on a whole new meaning.
Camms | July 23, 2020
Camms has continually evolved since we were founded in 1996! With nearly 25 years of experience in business software solutions, we have continually invested in making our software right for supporting organizations to achieve their goals.
Camms | June 11, 2020
To provide our customers with assurance around Camms' ongoing commitment to information security management, we are pleased to announce that we have recently achieved certification of the ISO 27001:2013 standard for our major offices around the globe. This followed an in-depth set of assessments over the past 6 months including onsite audits in all locations.
Camms | June 4, 2020
The largest implementation partner of Adaptive Insights in the APAC region, GK Horizons, are trusted by their customers across various industry verticals to improve not only their financial insights but their business agility and overall performance.
Brad Smith | June 1, 2020
Today’s climate proves that both local and global events can significantly impact the strategy and operations of an organisation. With key attributes in today’s volatile and uncertain environment being agility and flexibility,
Camms | April 21, 2020
Tomorrow needs pace, agility and quick decisive management. Today is the day to invest in the right risk management software. Rapid change is a constant in today’s environment.
Yasith Fernando | November 25, 2019
Sustainable Software Development refers to a set of principles and practices which enables a team to maintain an optimal speed in development indefinitely for the sustainability of the development team and ergo, the company.
A quick check of the global pharmaceutical (pharma) industry’s temperature shows that it is in good health: worth approximately $934.8 billion in 2017, it is estimated to reach over $1,170 billion this year. This encouraging prognosis has been aided by several factors – from rising incomes and enhanced medical infrastructures to rapid advancements in the treatment of chronic diseases and the prevalence of patented products.
However, this does not mean pharma companies are immune to the risks that arise from global growth. Inherent risks have been accentuated by the volume and complexity of change within the industry – not to mention other geopolitical and unforeseen events that have dominated headlines in recent months.
Fast-paced, and unpredictable shifts within the pharma industry have complicated vital strategic planning processes that allow decision-makers to rethink business models, products, customers, and markets. This lack of oversight can compromise key business requirements, such as the ability to properly implement and monitor activities associated with field sales and marketing.
Failure to assess internal policies and external requirements linked to sales and marketing can have serious consequences that also generate financial and compliance risks:
Pharma companies operate in a highly regulated environment, in which non-compliance can have a profound effect on cost, reputation, and, ultimately, the lives of customers or patients. This ever-present risk is being exacerbated by the challenge of finding new strategies to improve the efficacy and efficiency of products against a backdrop of new legislation, evolving interpretations of existing legislation and increased enforcement. For example, in the US, compliance with Risk Evaluation and Mitigation Strategies (REMS) – a drug safety program that is enforced by the Food and Drug Administration – is required to ensure the benefits of a medication outweigh the risks.
The pharma industry is experiencing heightened regulatory scrutiny both in the US and globally across several areas, including: sales and marketing, government drug price reporting, privacy of patient/customer health information, clinical operations, post-marketing drug safety reporting, and quality control activities around manufacturing.
Non-compliance with industry regulations can lead to crippling financial penalties. Recent high-profile investigations and prosecutions have resulted in significant financial judgments and criminal convictions. Most notably in the US, where allegations surrounding abusive promotional practices linked to the opioid crisis have played out in courtrooms, resulting in huge settlements being extracted from pharmaceutical companies. For example, Purdue Pharma – the manufacturer of OxyContin – recently agreed to plead guilty to criminal charges related to its marketing of the addictive painkiller and faces penalties of over $8 billion.
Changes in revenue streams and cost models have also increased financial risk exposure in the industry. Pharma companies face stiff competition caused by pricing pressures, scientific breakthroughs, expanding demand for healthcare access, and emerging digital and analytic capabilities – forcing them to explore unconventional business models.
From a scarcity of new blockbuster drugs and the growing emphasis on global expansion to increased M&A activity and a shift towards outsourcing key functions, the evolution of the pharma industry is having a notable impact on operational risk.
A pervasive operational risk facing pharma companies has been brought into sharp focus by recent events: supply chains. The backbone of the industry, supply chains have become increasingly complex in a globalized economy, with third parties often playing a prominent role. Agile and resilient supply chains are vital in an industry that relies on the production and distribution of high-quality medicine to the right place at the right time – and the stakes are high for pharmaceutical companies. The repercussions of breaks or bottlenecks in this process stretch beyond brand reputation, customer satisfaction, and profit; an ineffective supply chain could disrupt the healing processes of patients and produce negative effects on public health.
This has been exacerbated by Brexit and the Covid-19 pandemic:
The rapidly changing pharma landscape with its rising regulatory complexity, supply chain issues, data-driven innovation, and exposure to world events has brought risk-management capabilities into sharp focus. Unfortunately, pharma companies are often poorly prepared to navigate these choppy waters because their risk controls lack the scope, data, and processes required to identify, assess, treat, monitor, and respond to these threats effectively.
With integrated solutions in risk, strategy, projects and people, Camms software helps businesses make the right decisions, manage risks, align talent, and focus on what matters. Camms.Risk – a cloud-based SaaS solution – facilitates risk, incident and compliance management across all IT systems and processes. This central point of oversight has the power to drive key risk requirements for your business:
Keeping pace with change requires awareness of, understanding of, preparation for, involvement in, and reaction to the changes in question. In the context of rapid changes in the pharma industry and the subsequent impact on risk exposure for companies in this space, Camms software empowers businesses with the right level of understanding, oversight and action by integrating relevant risks into enterprise processes – making them more resilient.
Find out more about how Camms can help you achieve integrated risk management by requesting a demo of our software today.