Clinical Trial Financial Management

Clinical Trial Financial Management

Budget to Payments

Many challenges in clinical trial financial management still exist today and with clinical trials only getting more complex, a solution to address these issues has never been more critical.  Rave Clinical Trial Financial Management (CTFM) provides an end-to-end solution for the financial management of your clinical studies.  

Rave CTFM unifies your study data and financial management in one platform.  Rave CTFM is composed of Rave Design Optimizer, Rave Grants Manager and Rave Site Payments, all paired with the market leading Rave EDC.  

Rave CTFM enables operational efficiencies and financial compliance, collaborative data-driven decision making and greater transparency over planning & execution.

Clinical Trial Financial Management performed on a unified, data driven platform enables your trial financial data to drive knowledge, power operational efficiencies and to make smarter financial decisions.

Increased Operational Efficiencies & Financial Compliance

With data coming from many sources, and most financial compliance tasks managed manually through excel spreadsheets and access databases, it is easy for mistakes to happen and to be exposed to compliance risks.

By unifying the data collected from many sources, then using automated workflows, calculations and real time reporting, it enables Sponsors, Sites, and CROs to not only increase operational efficiencies but also meet regulatory and accounting standards for increased compliance.

Replace risky time-consuming, manual and disjointed processes with automation.

Collaborative Data Driven Decision Making

Medidata’s unified approach provides collaborative data driven decision making by providing a single platform to connect all stakeholders.

This connects both your CROS/Sponsors and Sites, so that everyone has on-demand access to budget and payment information.

This unified approach ensures that all stakeholders are working off consistent data.

Greater Transparency over Planning & Execution

Medidata’s unified approach to clinical trial financial management is proof that greater transparency over planning and execution is possible. It provides complete financial visibility throughout the study lifecycle from optimizing the study design, to site activities and procedures, to payment calculations and disbursements. Throughout the cycle there is real-time reporting of study budget vs. accruals and forecasting capabilities that allow for smarter financial tracking and decision-making. Detailed payment reports are shared directly with sites for greater visibility. The reporting is layered with advanced analytics and benchmarks that enable Sponsors and CROs to learn from your data to then optimize study design, planning, budgeting and execution for every trial.

See why the unified approach with Rave Clinical Trial Management provides the ability to make smarter financial decisions.