Clinical Trial Financial Management (CTFM)

Cloudbyz Clinical Trial Budget Management (CTBM) is a centralized, cloud-based solution designed to streamline and automate financial planning across clinical trials. Built on the Salesforce platform, it empowers sponsors, CROs, and sites with real-time visibility, control, and collaboration capabilities. The system supports activity-based costing, scalable budget templates, and automated workflows to accelerate budgeting processes, improve forecasting accuracy, and enhance operational efficiency.

Features

• Study Budget: Define and manage budgets at the study level based on subject visits, site numbers, and protocol-specific procedures.
• Site Budget: Prepare and manage site-specific budgets with fixed and pass-through costs.
• Budget Templates: Use pre-configured templates for faster budget creation across various scenarios.
• Collaboration: Enable real-time collaboration between budgeting teams and sites for drafting, reviewing, negotiating, and approving budgets.
• Reports & Dashboards: Access customizable dashboards and reports for tracking budget metrics, variances, and forecasts.
• Payments: Manage payment workflows including advance, partial, unscheduled, and holdback payments with flexible frequency settings.

Capabilities

• Activity-Based Costing: Supports detailed cost definitions based on protocol visit plans and procedures.
• Financial Forecasting: Automates tracking of actual costs, investments, and subject visit data for accurate forecasting.
• Budget Variance Analysis: Provides real-time insights into budgeted vs. actual costs to improve decision-making.
• Workflow Automation: Automates budgeting processes to reduce manual effort and improve consistency.
• Salesforce Integration: Seamlessly integrates with investigator portals, patient recruitment, and study start-up modules.
• Scalability: Designed to support global operations and multiple study phases without additional hardware investment.

Benefits

• Accelerates budget planning and approval cycles.
• Enhances financial transparency and control across trials.
• Reduces manual errors and administrative overhead.
• Improves collaboration among stakeholders.
• Enables proactive financial management and resource optimization.
• Supports compliance and audit readiness with detailed tracking and reporting.