Most trial finance approvals still happen by email, so nobody can see at a glance whether an invoice is waiting on finance, the study manager or a budget owner. Cloudbyz CTFM runs approvals as configured workflows, showing the exact status of every budget, invoice, payee change and payment, who it is waiting on, and the full approval history. It suits large pharma, global multinationals, biotechs, CROs and device companies.
How it works today
- An invoice is forwarded by email for approval.
- It waits in someone's inbox, sometimes for weeks.
- The site asks for an update; nobody knows where it is.
- Approval is a reply email, filed in a personal mailbox.
Why it matters
- Internal controls. Publicly listed companies must maintain internal control over financial reporting under Section 404 of the Sarbanes-Oxley Act. Clear approval steps and segregation of duties, so the person who requests a payment is not the person who approves it, are basic controls auditors test.
- Electronic signatures. Where FDA-required records are kept electronically, 21 CFR Part 11 expects electronic signatures to be linked to their records and attributable.
- Site relationships. Site payment terms often run from receipt of a correct invoice (Applied Clinical Trials), so an approval stuck in an inbox is a payment stuck too.
What can go through a workflow
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Item
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Typical approvers
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Site budget and amendments
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Budget owner, study manager, finance
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Payee changes and bank details
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Finance, with segregation of duties
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Site invoices and exceptions
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Study manager, finance
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Payment runs
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Finance lead
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Change orders
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Clinical operations lead, finance
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Today versus Cloudbyz CTFM
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Question
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Today
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Cloudbyz CTFM
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Where is this invoice?
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Ask around
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Status shown on the record
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Who is it waiting on?
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Unknown
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Named approver
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How long has it waited?
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Unknown
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Visible and reportable
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Who approved it?
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Search email
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Approval history with electronic signature
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What changes by department
- Finance: no chasing approvers; overdue approvals are visible.
- Clinical operations: approve from the record, with context alongside.
- Senior management and audit: approval controls are consistent and documented.
- Sites: can see whether an invoice is pending, approved or paid.
How Cloudbyz CTFM does it
Cloudbyz CTFM is built natively on Salesforce, with configurable workflows and approvals for budgets, invoices, payee changes and payments. Every item shows its exact status and approver, notifications prompt the next person, and approvals are recorded in the audit trail. Book a demo or visit cloudbyz.com.
