FinTrustEase: A Dynamic SaaS Tool for Pharma Vendor Due Diligence and Financial-Compliance Risk Screening

"Compliance Guidelines for Pharmaceutical Enterprises to Prevent Commercial Bribery Risks" Released on January 14, 2025The document requires: “Pharmaceutical enterprises shall establish a selection mechanism for outsourcing service providers, encourage the adoption of competitive methods in selecting partners, adhere to the principles of openness and transparency during the selection process, and maintain complete records of the selection; pharmaceutical enterprises shall require outsourcing service providers to provide necessary documentation, including but not limited to registration certificates, qualifications, financial statements, tax records, facility information, personnel details, operational capabilities, records of legal violations, and social credit records; pharmaceutical enterprises are encouraged to conduct due diligence on outsourcing service providers.”

However, traditional pharmaceutical companies face numerous challenges in conducting due diligence and implementing access-related risk control measures for outsourcing service providers. For instance, the scope of due diligence items is extensive, covering registration certificates, qualifications, financial and tax records, operational capabilities, as well as legal violation histories and social credit records. These complexities are further compounded by paper-based information management and conventional manual review processes, resulting in prolonged due diligence cycles and elevated costs.

Moreover, the reliance on paper-based information storage, coupled with prolonged due diligence cycles and high due diligence costs, prevents enterprises from implementing dynamic monitoring, making it difficult to promptly identify potential compliance risks. Furthermore, the overwhelming volume of information, combined with pharmaceutical companies’ lack of experience in implementing the detailed aspects of compliance policies, may hinder their ability to conduct in-depth and precise due diligence, thereby further elevating the risk of non-compliance.

Yao Yiyun's Fengxin YiCapable of efficiently conducting in-depth, precise, and dynamic due diligence and access risk control for service providers.

On Monday, September 15, at 16:00, VCBeat invitesLegal Advisor to the State Administration for Market Regulation,Wang Zhijian, Director of Zhonglun Wende (Chengdu) Law Firm, and Jin Chunmei, Vice President of Yi Yun TechnologyThe two guests presented the Yi Yun–Fengxin Yi product and shared insights on corporate compliance risks.

Wang Zhijian

State Administration for Market Regulation | Legal Counsel

Zhonglun Wende (Chengdu) Law Firm | Managing Partner

With many years of experience in the pharmaceutical industry, I have long provided legal and compliance services to regulatory authorities, enterprises, and public institutions. I was recognized as a Leading Lawyer by Chambers, an international legal ranking agency, for 13 consecutive years from 2013 to 2025, and as a Leading Lawyer by LEGALBAND, another international legal ranking agency, for 11 consecutive years from 2015 to 2025. I was also ranked among the Top 15 Client-Preferred Compliance Generalists by LEGALBAND in 2020 and 2021, and served as the lead lawyer in a case selected by Xinhua News Agency in 2024 for its showcase on foreign-related compliance legal services.

Jin Chunmei

Yao Yiyun Technology | Vice President

With years of experience in providing tax and financial compliance services to the pharmaceutical industry, I provide tax and financial compliance support for business-finance synergy solutions in the pharmaceutical marketing service supply chain, and have assisted numerous pharmaceutical companies in building compliance systems within their marketing operations. Previously served as a Director at Ernst & Young.

Shenzhen Yaoyi Cloud Technology Service Co., Ltd. addresses the industry-specific pain points in financial and operational management within the pharmaceutical marketing services sector. By leveraging a SaaS system to manage the data chain encompassing the planning, execution, and delivery of certified marketing activities, the company supports pharmaceutical manufacturers in overseeing the business-financial operations and dynamic risk control of their service providers, down to frontline sales personnel, thereby reducing costs and enhancing efficiency. The founding core team comprises senior executives and experts with extensive experience at renowned domestic and international enterprises in fields such as finance and tax consulting, pharmaceutical marketing, and data operations, dedicated to providing professional and innovative services to the industry.

“Artery New Product Showcase” is a live-streaming program designed to support medical enterprises in launching innovative products, with the mission of facilitating the milestone release of every medical innovation.