Before engaging with Clinverse, this CRO used a manual process to calculate payments for almost all of their studies. The CRO's team members would track payments in spreadsheets and then send the data to accounts payable, who made the payments. This manual and admin-intensive process was resource-intensive, slow and error-prone, and the CRO knew they needed an automated system that could provide accurate payments in a much timelier fashion. Since the CRO conducts a large amount of studies with sites in countries all around the world, it was important that their payments solution was scalable and had global capabilities. Additionally, the CRO wanted a solution that allowed them to truly be in control of their payments process while optimizing time, personnel and resources.
Although the CRO researched several payment solutions on the market, they decided on ClinPay due to its superior functionality, global capabilities and scalability. ClinPay is part of a suite of products designed to automate the entire financial lifecycle of global clinical trials, including contract term translation, contract management, payments, accounting and reporting functionality. With ClinPay, Sponsors and CROs can significantly reduce workload and operational costs, gain access to clinical trial payment information and facilitate multi-currency management.
The CRO also chose Clinverse due to its self-service model. Following a brief training period in which the CRO was guided by Clinverse's team of experts, the CRO was able to manage the payments process on their own, putting the company in complete control. Clinverse's project managers understand the unique challenges involved in complex, global trials with a large amount of sites, and therefore were able to guide the CRO through those challenges during the training process so the CRO would be fully equipped to handle them on their own.
Now that the training period has ended, the CRO has transitioned to become fully self-service and is doing all implementation activities for their studies. Additionally, ClinPay's global capabilities have allowed the CRO to seamlessly make payments to sites around the world. With ClinPay's scalable system, the CRO will be able to make payments for their large amount of global studies in a timelier, more accurate, efficient manner.