Protect your market access data: the value of ISO27001

Written by Darren McBride

In this market access update, Darren McBride summarizes the importance of reviewing your supplier’s information security standards.

What is ISO27001?

ISO27001 is a globally recognized security standard that outlines the approaches an organization needs to take to safeguard data to ensure business continuity.

It reaches across all physical, technical, and legal controls involved in information security and risk-management processes. This includes the security of assets such as intellectual property, financial information, and employee details.

Why should pharmaceutical and biotechnology market access professionals be interested in ISO27001?

Our market access clients are increasingly using new technology to collect, analyze, and manage data to solve value challenges and gain strategic advantage. Data security must always be beyond the remit of only internal IT teams, and be the responsibility of everyone within the organization and its suppliers.

PRMA Consulting is a supplier of digital market access solutions and ISO27001 certification demonstrates our company-wide commitment to the protection of client data. It provides confidence and trust that we are safeguarding their business, and that is something we are all incredibly proud of.

Can the same processes be achieved without certification?

I have seen organizations achieve their security objectives by following processes without an information security management system (ISMS) framework; however, ISO27001 certification is formally awarded after a rigorous third-party audit and is maintained with ongoing external assessment.

This is important to us as it shows that robust security standards are implemented consistently throughout PRMA Consulting, and are being monitored and developed to meet the rapidly evolving demands of our clients’ businesses.

If a supplier is not ISO27001 certified, what questions should an organization ask them?

A good place to start is by asking why they don’t have certification.

“A supplier must be able to demonstrate secure data management and compliance in the key areas of access control, storage, handling, transfer, retention, and destruction.”

How do you see data security developing within market access?

Digital technology is transforming market access processes and results. As organizations capitalize on this transformation to gain competitive advantage, an increasing wealth of data are being digitally collected, analyzed, and transferred. Implementing and improving information security standards is therefore a priority that should become part of everyone’s professional daily lives.

PRMA Consulting is an independent consultancy solving some of the most challenging pricing, reimbursement, and market access issues facing international pharmaceutical and biotechnology companies today.

Our tailored services include a suite of digital applications that transform market access processes. These dynamic applications enable clients to unlock and optimize product value from early development through to successful country HTA submissions.

Discover how >>

FREE Article

Digital transformation in market access

Free download

Latest insights

Market access for biotechnology

Menopause and work: initiatives to support employees

LGBTQ+ History Month in the workplace