The Challenge
Despite being a leader in genetic testing, the company faced significant inefficiencies in clinical trial budgeting and financial tracking. Their key challenges included:
- Disconnected systems – Multiple platforms lacked integration, causing data silos and manual tracking inefficiencies.
- Complicated financial workflows – Budget creation, invoice processing, and accruals management were time-consuming and error-prone.
- Lack of real-time financial visibility – Decision-makers struggled to track trial-related costs and financial performance in a centralized manner.
- Inability to integrate with third-party EDC systems – The existing setup prevented seamless financial data flow, further complicating reporting and analytics.
To scale their clinical trial operations efficiently, the company required a cloud-based budget management solution that would unify financial data, automate workflows, and integrate with external systems.
The Solution
The company partnered with Cloudbyz to deploy a fully integrated Clinical Trial Budget Management (CTBM) and Clinical Trial Management System (CTMS)—a cloud-based solution designed for efficiency and scalability.
With Cloudbyz’s platform, the company:
- Automated budget management – Implemented a template-based approach to streamline invoice generation, budget approvals, and accruals tracking.
- Achieved seamless integration – Connected their third-party EDC system with Cloudbyz’s CTBM, enabling real-time data synchronization.
- Enabled real-time financial visibility – Designed custom reports and dashboards to provide executive teams with actionable intelligence on trial budgets.
- Centralized data access – Provided a single source of truth for financial and trial-related data, eliminating manual inefficiencies.
By implementing Cloudbyz’s cloud-native technology, the company transformed its financial management operations, reducing complexity and improving budget control, compliance, and decision-making.
The Results
With Cloudbyz’s solutions in place, the genetic testing company achieved:
- Centralized trial financial management – All financial data was housed in one unified platform, ensuring real-time access to budgets, invoices, and accruals.
- Increased efficiency – Automated workflows reduced manual effort, minimized errors, and accelerated financial approvals.
- Seamless compliance and audit readiness – Real-time tracking and digital records ensured the company remained compliant with regulatory requirements.
- Scalability for future growth – Cloudbyz’s cloud-native solution provided the flexibility needed to scale clinical trials efficiently.
- Actionable financial insights – Executive teams gained access to custom dashboards and reports, improving budget forecasting and cost control.
By leveraging Cloudbyz’s cloud ecosystem, the company transformed its trial budgeting process, reduced costs, and strengthened financial oversight, enabling it to focus on delivering breakthrough genetic testing innovations.
