Reduce Costs By Taking Control of Your Payment Process
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Most financial systems don't have the functions or the flexibility needed to efficiently track payments specific to clinical trials. And manual clinical payment calculations can involve extensive sorting through trial activity and contracts. TranSenda's Clinical Payment Manager automates the clinical payment process to put users in control of spending and performing to budget. Sponsors and CROs gain full insight into what's been paid, what is owed and what is projected for a specific time period. Investigative grant payments can be made with the confidence that they are both accurate and based upon verifiable clinical activity.
Clinical Payment Manager is offered as both a stand-alone system or fully integrated with TranSenda's proven CTMS-Clinical Trial ManagerTM.
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Product Sheet
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Key Benefits
- Streamlines clinical site payments to save time and money by automating the translation of clinical activities and achieved milestones into accurate invoices
- Control of the payment process starts with a flexible wizard, enabling the set up of complex payment rules according to each unique contract
- Reduces time required to produce a real-time views of payment status, included accrued payments due for the current period
- Accurate and on-time payments will enhance company relationships with service providers and increase peace-of-mind
- Payment details help ensure compliance with Sarbanes-Oxley
Key Features
- Flexible study budget includes multiple contract version tracing, allowing study payment rules methodology to be uniquely applied to each service provider and investigator on a site-specific basis
- Actual payments due calculated on verifiable subject activity and achieved milestones according to each contract's payment rules
- Tracks payments made to date, including accrued, in real-time against total study budget at study, site and subject levels
- Ability to handle multiple payee types including investigators, vendors, contractors, and ad hoc
- Supports currency exchange rate calculations for international sites
- Multiple options available for connecting to 3rd party applications, such as accounting systems and EDC, including use of TranSenda's patent-pending ClinBUSTM data interchange technology
- System validation is facilitated through embedded features, test scripts and documentation
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