Each country has its own payment rails, currency, tax requirements and banking details, so global site payments need country-level configuration rather than one payment process for all. Cloudbyz CTFM supports country-specific configuration parameters, such as payment mode (EFT, ACH, SEPA or wire), currency and payee details, so each site is paid the way its country and agreement require. It suits large pharma, global multinationals, biotechs, CROs and device companies.
How it works today
- Payment methods are noted in the contract or an email, then set up separately in the finance system.
- Bank details arrive by email or PDF and are typed in by hand.
- Currency conversion and tax treatment are worked out in spreadsheets.
- When a site changes bank or payee, the change may not reach every system.
Why it matters
- Payment rails differ. US sites are commonly paid by ACH, sites in the euro area by SEPA transfer, and many other countries by international wire, each with its own details and timelines.
- Personal and banking data must be protected. For EU sites and investigators, payee and bank details are personal data under the GDPR, so access must be controlled and changes recorded.
- Tax and reporting rules vary. Withholding tax and VAT depend on the country, and in the US, payments to physicians and teaching hospitals are reportable under Open Payments.
- Wrong payee details cost money. A payment sent to an outdated account is slow to recover and damages the site relationship.
Today versus Cloudbyz CTFM
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Area
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Today
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Cloudbyz CTFM
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Payment mode
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In emails and contracts
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Configured per country and payee
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Bank details
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Typed from PDFs
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Held on the payee record, with access control
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Currency
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Converted in spreadsheets
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Local currency per site, reported in study currency
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Payee changes
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May miss a system
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Approved and recorded once
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Audit
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Hard to trace
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Full audit trail
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What changes by department
- Finance and treasury: payment instructions come from one controlled record.
- Clinical operations: fewer payment escalations from sites.
- Compliance and data protection: access to bank details is limited by role, and every change is logged.
- Sites: paid through the method they agreed, in their currency.
How Cloudbyz CTFM does it
Cloudbyz CTFM is built natively on Salesforce. Country-specific configuration parameters, such as payment mode (EFT, ACH, SEPA or wire), currency and payee details, are set per country and payee, and payments can be split between institutions, SMOs and investigators. Book a demo or visit cloudbyz.com.