This is time consuming and expensive as indicated by recent research findings:

• W. Mark Crain and Thomas D. Hopkins, public policy researchers, estimate regulatory compliance can cost as much as $7,000 annually per employee.
• The 2006 Gartner EXP CIO Survey found very similar results. When asked what percentage of the IT budget was being spent on compliance, more than 1,400 CIOs estimated that nearly 12 percent of their IT budget goes towards compliance. When asked where they see that number going in the future, they stated they expect that figureto grow to 14.2 percent by 2009 (Source: Gartner)

Rather than viewing compliance as a burden, savvy life science organizations such as HGSI (Human Genome Sciences), a manufacturer of protein and antibody drugs, and Janssen Pharmaceutica, a manufacturer of prescription medications for the treatment of schizophrenia and bipolar mania, are using compliance as an opportunity to achieve new efficiencies and
overall business value.

Through automation, these organizations are documenting tangible, bottom-line benefits based on process modifications, reduction in document cycle times, improved collaboration across the enterprise and cost reductions associated with the avoidance of regulatory
penalties. Additionally, these organizations have identified that the adoption of an enterprise compliance management system that is configurable versus highly customized is critical to the early realization of benefits. Furthermore, the Total Cost of Ownership (TCO) differences between these two approaches are significant and undeniable.

QUMAS has developed this white paper to provide insight and guidance into the TCO process and its place in the overall solution sourcing and management process. Using this guidance, the TCO calculator and the TCO ‘truths,’ you will be able to build a best-in-class TCO model that will assist you in differentiating and analyzing alternative solutions.