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R- Squared Implements SpendTracker® for French Sunshine Act
Date:1/14/2014

Princeton, NJ (PRWEB) January 14, 2014

R-Squared Services & Solutions, Inc. (R-Squared), a leading developer of compliance software for the life sciences and healthcare industries, today announced that in under three months’ time, a team implemented SpendTracker® for a global life sciences organization to manage its aggregate spend reporting in France, consistent with the evolving requirements established by the Conseil National de l'Ordre des Médecins (“CNOM”).

Similar but broader than the U.S. Sunshine Act/CMS Open Payments requirements, the French Law, known as the Loi Bertrand or the French Sunshine Act, requires life sciences manufacturers to report both transfers of value and agreements with physicians and other parties. R-Squared’s SpendTracker® with CiR2us customer master was designed to handle demands of international Transparency reporting, and includes functionality (including geo-location), such as robust language translation, processing of international IDs and addresses, currency conversion, and the ability to report contracts and manage cross-border compliance requirements.

“We have been following closely all international developments in this area and believe that we will see widespread global transparency disclosure requirements for life sciences companies in the coming years,” said Michael Bell, President and CEO of R-Squared. “Consequently, we have positioned our organization and our fourth generation SpendTracker solutio
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