More and more, business is being driven through regulation. Multiple regulations, from Sarbanes-Oxley to HIPAA and beyond, will have a big impact on cost but will do nothing for the revenue side. The question becomes how to minimize the impact on business operations.
What if IT had a single configurable system architecture that met most regulatory requirements? To achieve that, companies are trying to find what these regulations may have in common.
For many years, compliance vendor Qumas focused on the life sciences and regulations related to electronic submission of documents to the FDA. What it discovered was that the processes, policy, and procedures for the FDA had a lot in common with the processes for Sarbanes-Oxley, the Patriot Act, and even new regulations such as Rule 38a-1 for the insurance industry.
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