Rave Clinical Trial Financial Management (CTFM) is a comprehensive suite of solutions designed to streamline and optimize the financial aspects of clinical trials. It combines Rave Grants Manager for planning and contracting, Rave Site Payments, and integrates with Rave EDC to provide sponsors and CROs with a unified platform for managing trial finances from study budget planning to site payments.

Key Features

Study Budget Planning Rave Grants Manager Planning enables quick and accurate study budget creation

• Utilizes benchmarks for therapeutic area, phase, geography, and site-specific details
• Allows real-time scenario planning and assessment of site/patient burden

Site Budget Negotiation Rave Grants Manager Contracting facilitates efficient site negotiations

• Automated workflows and interactive dashboards
• Transparent tracking of negotiation progress and metrics

Accurate & On-Time Site Payments Rave Site Payments ensures timely and precise payments to research sites

• Handles complex budgets and payment terms
• Automated cost calculations triggered by EDC data
• Streamlined approval queues and funding processes

Data-Powered Reporting & Analytics Unified data enables comprehensive financial insights

• Smart accrual tracking and forecasting
• Proactive financial decision-making capabilities
• Complete visibility for compliance requirements

Benefits

Improved Operational Efficiencies Streamlines financial processes throughout the trial lifecycle

• Automated workflows reduce manual effort
• Faster site negotiation and payment processes
• Ensures study timeline targets are met

Full Financial Transparency Provides clear visibility into all financial aspects of the trial

• Comprehensive view from budget planning to site payments
• Robust reporting and dashboards for all stakeholders
• Increased financial transparency for research sites

Data-Driven Decision Making Enables smarter financial management through integrated data

• Unification of study and financial data
• Real-time financial tracking and analytics
• Facilitates faster, proactive decision-making