Complimentary Webinar
Feb 28, 2012
3:00 PM – 4:00 PM EST
CRO Accounting: Connecting Operations & Finance with One Source of the Truth
Are clinical studies draining your cash?
Pass through expenses not paid by the sponsor or not captured erode your study profits – essentially financing your sponsor’s study.
- Do you know which pass-through expenses have been paid?
- Which expenses have yet to be paid?
- Can you monitor aged AR?
- Are you paying your vendor before your sponsor pays you?
- Can study/project managers answer their questions about budget, billing, and milestones?
In this webinar you will learn how to:
- Connecting Operations and Finance with one source of the financial truth
- Give study/project managers key financial information so they can be more effective. You can get operations and finance on the same page.
- Eliminate duplicate spreadsheets and often triple entry of the same information.
- Streamline the processing of Investigator Payments.
- Most CRO’s will admit that 2 to 3% of pass through costs do not get rebilled, that can be avoided
- Many CRO’s have a 120 day cycle from expense incurred to collection from the sponsor, are you financing your sponsors study?
- Eliminate manual bill/re-bill match-up – Intuitive work environment
- Eliminate error and lost re-bills – keep reconciliation current and within the correct period
- Reduce billing time – visibility of open, released and pending invoice.
- Use role based dashboards to give your people the information they need
- Accounts Payable Will have no need for Excel and paper copies to support their manual billing and re-bill match-up. Can use electronic documents work flow approval to release manual billing and rebill match-up tables, eliminating spreadsheets and paper copies.
- CFO can bill more quickly to free up more capital and increase profits.
- CEO now has the ability to monitor unbilled pass-through expenses in order to realize more billing opportunity and ultimately more cash flow. Can be a stronger partner with their sponsors providing budget visibility and forecasting.
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