Deloitte acquired QSpace, a validation lifecycle management system (VLMS), on August 24, 2018 in an aim to expand its information technology (IT) and compliance solutions suite for life sciences organizations.
The company acquired the risk-based platform – designed to address IT quality and compliance, computerized system validation, and Good X Practice (GxP) requirements – from the India-based pharmaceutical manufacturer Archimedis Healthcare Private Limited.
According to Chuck Saia, CEO, Deloitte Risk and Financial Advisory at Deloitte subsidiary Deloitte & Touche, the acquisition brings a “leaner and standardized VLMS” to clients to provide IT quality and compliance to pharmaceutical, medical device, contract research, contract manufacturing, and distribution sectors.
According to the company, the platform provides real-time insights into performance indicators across validation lifecycle and digitizes end-to-end validation processes. Sirkanth Narayan the managing director of Deloitte Risk and Financial Advisory told us that Validation Lifecycle managment systems (VLMS) help reduce risks associated with manual execution through digitizing validation processes. The system is, "Something particularly helpful to multi-national organizations," she added.
"We know executives at leading organizations in the pharmaceutical, medical device, contract research, contract manufacturing and distribution sectors want to improve IT quality and compliance efforts as part of broader compliance modernization initiatives,” said Monica O'Reilly, Deloitte Risk and Financial Advisory principal and leader of its regulatory and operational risk practice.
“QSpace enables that transformation for IT operations, compliance and risk management, while also freeing up resources for organizations to focus more on the business of innovating for the benefit of customers and patients,” she said in the press release.
