PCD PHARMA BUSINESS FRANCHISEES AND SECURE TRANSACTIONS

In the context of frequent hacking and cybersecurity threats, pharma franchisees associating with PCD (Propaganda Cum Distribution) pharma companies must exercise caution when it comes to trust, particularly in handling payments and sensitive data. Here’s how to safeguard your business relationship and transactions:

Verify the Credibility of the PCD Pharma Company

• Research Thoroughly: Conduct a detailed background check on the PCD pharma company. Look for reviews, testimonials, or references from other franchisees.
• Check Credentials: Verify the company’s registration, certifications, and compliance with regulatory bodies.
• Direct Communication: Establish direct communication with key representatives of the company to ensure authenticity.

Use Secure Payment Channels

• Prefer Bank Transfers: Use official banking channels for payments rather than unverified apps or links.
• Enable Multi-Factor Authentication (MFA): Secure your bank accounts and payment platforms with MFA.
• Avoid Public Wi-Fi: Never process payments over unsecured public networks.

Insist on Written Agreements

• Document Transactions: Ensure all transactions, including advances or orders, are documented in formal agreements or invoices.
• Verify Bank Details: Double-check bank account details with the company directly before transferring funds. Beware of last-minute changes to account details.

Use Trusted Digital Tools

• Secure Communication Apps: Use encrypted communication tools (e.g., Signal, WhatsApp, or secure emails) to discuss sensitive matters.
• ERP Systems: Consider using Enterprise Resource Planning (ERP) tools for seamless and secure order management and payment tracking.

Stay Alert for Fraudulent Activities

• Be Wary of Phishing: Avoid clicking on links or responding to suspicious emails or messages claiming to be from the company.
• Verify Requests: If you receive an urgent payment request or an invoice update, verify it with a trusted contact from the company.

Audit and Monitor Transactions

• Regular Reconciliation: Cross-check your payments and outstanding balances regularly.
• Payment Alerts: Enable notifications for all transactions to catch unauthorized activities immediately.

Ensure Data Security

• Protect Sensitive Information: Do not share sensitive details like franchise agreements, payment terms, or client lists over unsecured channels.
• Secure Devices: Use strong passwords, encryption, and antivirus software on all devices used for business.

Build a Trustworthy Relationship

• Regular Interaction: Maintain regular communication with the company’s representatives to build trust and transparency.
• Attend Meetings: If possible, meet in person to understand the company's operations better.

Being cautious is the only way forward and this should not come in our way to doing business seamlessly. Its better to connect with known Pharma Companies or the companies which are run by management that has established past records.

Regards,

Amit Katoch,

JAKSTAR PHARMA

Your Trusted Healthcare Partner.