Global Payment Management

The administration of investigator grant payments on a global scale is difficult, if not impossible, without the use of integrated technologies that can automate the complex calculation of grant dollars earned and efficiently administer payments to the sites. Many organizations continue to use manual, stand-alone spreadsheets and databases to manage the grant calculation, increasing financial risk and the probability of error. Furthermore, once the grant is calculated there is no integration with the Accounts Payable department so manual processes are used to provide this data to Accounts Payable. CFS has overcome these challenges by developing a highly controlled and fully integrated payment processing environment. Our environment leverages the latest technologies from EMC, SAP, Force.com and Microsoft and integrates them with our own proprietary investigator grant calculation engine. This technology-enabled process allows us to pay investigative sites around the world both quickly and accurately via electronic funds transfer (EFT). In addition, a detailed electronic remittance and statement is provided to the investigative sites essentially giving them a complete inception-to-date financial summary with every payment. This information can be provided to sites in their local language and local currency, making CFS your one-stop shop for global payment processing services.

Strategic Benefits

By outsourcing this function to CFS your organization will enjoy:

• Improved productivity

• Improved Investigator relationships

• Improved Reporting

• Improved Cash Flow

• Enhanced business intelligence, compliance, and control

• Significantly more value from your EDC investment

• A quick payback and ROI

Key Features

Key features of our process and technology include:

• Timely and accurate electronic payments in local currency

• Detailed remittance via internet in local language available 24 x 7 (see value of electronic payment)

• Project and portfolio dashboards that support tactical project and strategic program management, facilitate collaborative communication, and serve as an online data repository

• Flexible integration options that allow subject visit information to be captured via web services XML, secure FTP upload or Microsoft Excel CSV file

• Proprietary application that automates the grant calculation process and provides seamless integration with our ERP solution

• Electronic e-billing transaction and internal purchase order creation for improved financial control

• No software implementation or conversion issues...ready to go...NOW !