Digital Solutions
Clinical Trial Financial Management (CTFM)
Enhancing forecasting accuracy by harnessing data to unlock insights through automation
Managing Clinical Contracting & Trial Management Complexities
Rapid Growth → Maturity Gaps
80% of trials are sponsored by small biopharma, with 5.8 years avg. since founding to exit
Changing Scope
Frequent changes in scope and specifications
Timelines and Deadlines
Contract change orders impact study timeliness and missed milestones
Highly Complex, Highly Outsourced
The majority of R&D is outsourced to 3rd-party vendors, sub-vendors and sites. Decentralization places burden on sponsors.
Multi-Stakeholder Involvement
Managing collaboration amongst various stakeholders
Version Control
Confusion, delays, disputes, increased costs, and strained relationships
Rapid Growth → Maturity Gaps
80% of trials are sponsored by small biopharma, with 5.8 years avg. since founding to exit
Approval Processes
Multiple levels of approvals and timely coordination
Budget Management
Scope changes and misallocation of funds/budget overruns
Continuous Improvement: Automate Accruals by Leveraging Data
Configuration
Forecast function and activities with flexibility using configured logic to model costs
Confirmation
Reduce the burden of manual reporting by providing workflow and evidence for easy verification and refinement
Calculation
Translate clinical trial data into financial impact in real time, leveraging the best available evidence
Refinement
Leverage predictive models to layer trial trends into logic and compare baseline forecast/accruals to actuals quickly
Improve Accuracy
R&D spend is the most material P&L line item
Drive Efficiency
Accelerate, secure, and optimize accounting and FP&A processes
Support Audit Readiness
Auditable, defensible, and predictable processes