Let’s Hit Pause
Ever seen a carefully planned study schedule slip because a site invoice went missing? It happens all too often, and it should not.
We have autonomous vehicles on city streets, yet in clinical research, teams still chase down paper checks and reconcile spreadsheets manually. Clearly, something is off.
The Hidden Expense of Clinical Trials
Clinical trials have evolved into complex, global operations. Protocols expand, regulators tighten requirements, and budgets swell with every protocol amendment.
Yet many sponsors and CROs continue to rely on outdated methods such as:
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Fragmented point solutions
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Manual copy-and-paste rituals
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Siloed spreadsheets like “Budget_FINAL_v21.xlsx”
The predictable fallout includes:
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Blown budgets
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Delayed site payments that drift far beyond net 30 terms
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Compliance gaps discovered during audits
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Longer delays for patients waiting for new therapies
What the Data Tells Us About Clinical Trial Delays
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70% of clinical trials experience start-up delays, according to a survey by Thermo Fisher Scientific's PPD unit. That's nearly three out of every four studies losing valuable time before even enrolling their first patient.
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91% of research sites report that delayed sponsor or CRO payments create operational challenges, based on a global survey conducted by Greenphire and the Society for Clinical Research Sites (SCRS). Issues like invoicing headaches, cash flow gaps, and staff distractions are the rule, not the exception
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These numbers aren’t just statistics-they’re a wake-up call for anyone still managing clinical trial finances the old-fashioned way.
Why Traditional Financial Tools Fail Clinical Trials
Modern clinical trial financial management demands real-time visibility, automated compliance, and seamless global operations. Traditional tools cannot keep up because they lack:
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Support for region specific service scopes and pass through costs
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Live tracking of payables, accruals, and contract limits
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Multi-currency functionality for international trials
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Instant, audit ready document trails
If this sounds familiar, it is time to modernize your financial management approach.
How Cloudbyz Simplifies Clinical Trial Financial Management
1. Dynamic Budget Planning and Forecasting
Cloudbyz uses historical benchmarks and externally available Fair Market Value (FMV) datasets to provide budget templates that can update automatically with every protocol change.
This speeds up negotiations, improves forecast accuracy, and prevents financial surprises.
2. Automated Payments and Live Tracking
Sites achieve milestones and receive immediate payment, keeping engagement high and project timelines on track.
No more calls asking, "Where is my money?"
3. Built-In Audit Readiness
Customized dashboards, automatic audit trails, and real-time reporting ensure you are always one step ahead of regulatory audits.
4. One Unified Ecosystem
Cloudbyz connects your CTMS, EDC, and finance systems into one platform. Sponsors, CROs, and sites share documents, approve budgets, and track financial status in real-time.
No more "swivel-chair" analytics between disconnected systems.
Why Financial Strategy is Critical for Future Clinical Trials
As clinical trials become more global and complex, financial operations can no longer remain an afterthought. They are a strategic advantage.
By modernizing your financial management with Cloudbyz, you can:
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Accelerate study start-up and execution
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Ensure site satisfaction and retention
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Breeze through audits with complete confidence
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Base decisions on real-time, reliable financial data
At Cloudbyz, we help you transform financial chaos into clarity because every saved dollar and every reclaimed day gets life-changing treatments to patients faster
