This large, top-five CRO grew significantly in a short period of time. Due to the CRO's fast growth, they found investigator payments to be a significant challenge. Approximately 100 team members were tasked with handling just grant payments, and they had difficulty getting payments to the sites in a timely and accurate fashion considering the organization does about 350 to 400 global trials at any given time. Due to the increasing complaints the CRO had been receiving from sites about payments, which affected their relationships with the sites as well as their sponsors, the CRO recognized that their current model was not scalable. If they wanted to continue to grow the organization significantly, they needed to find a technology solution to solve this problem.
This CRO performed a significant, in-depth evaluation of many potential financial management solutions and decided to use ClinPay. 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. The CRO chose ClinPay because it was the only end-to-end solution that could handle all of the unique challenges and characteristics of a clinical trial. The CRO was particularly interested in ClinPay's ability to effect global payments and understanding of country-specific requirements.
The CRO's goal was to start using ClinPay for all of their new trials as well as many of their existing trials. The CRO wanted to use ClinPay to pay their sites accurately and on time as well as achieve a significant amount of cost savings. Additionally, they wanted to use ClinPay to increase efficiency with their clinical operations team so that they could focus more on the trials and less on site payments.
The CRO is already streamlining their processes, gaining significant efficiencies and allowing many of their team members to turn their attention to more vital tasks. The CRO was particularly attracted to ClinPay's self-service model; Clinverse was able to teach the CRO how to use the technology so that they could be self-sufficient moving forward. With the help of ClinPay, this CRO is working towards a more scalable model with improved efficiency, accuracy and timeliness.