Cloudbyz Clinical Trial Budget Management solution helps organizations gain visibility, insight and control across clinical trials and studies. The solution helps in accelerating study budget management with high level of accuracy with faster cycle time. Cloudbyz CTBM enhances decision-making, maximizes resource utilization and increases operational efficiency.
Budget management is based on activity based planning with ability to define budget templates based on in-house research, outsources or combined and also support study specific or site specific budget.
Budget management also supports the ability to define costs as per protocol site visit plans and procedures to calculate unit costs and aggregate to study or site level covering number of subjects, sites, IRB and site pass through costs.
This solution has the capability to help define budgets right at the study level based on different scenarios. The budgets are allocated based on different factors such as subject visits, sites, etc.
With the integration of this solution, site budget preparation is convenient. Moreover, managing it is easy by setting fixed costs &pass through expenses. It determines a total budget meant for site.
It has featured integrations with budget templates that consist of pre-estimated costs for different assumptions and scenarios. It is eventually meant for speeding up the process of budget creation.
Budget management team can now collaborate with sites in real-time with integration of this capability onto the solution. It will help the team to share draft, review, negotiate, & get approvals done.
This solution has dashboards that are meant for displaying metrics on budget tracking, forecast variance, and other such reports. Along with that, it also allows the team to create new reports.
Generate payments, create detailed invoices, view payment tracking history, and manage study and site level budgets with the Cloudbyz CTBM solution. Leverage template-based modules to set up multiple budget versions at the study and site level. Simplify accounting practices by managing and tracking advance payments to sites, partial payments, unscheduled and invoiceable items payments and holdback payments. Designed to fit your financial needs, set up different payment frequencies per site such as monthly or quarterly payments along with robust approval workflows to keep your business on track.