Cloudbyz Clinical Trial Budget Management (CTBM) is a centralized automated budgeting solution that helps organizations gain visibility and insight into the financial health of their clinical trials. The solution enables control of all aspects of a study budget with a high level of efficiency. It enhances decision-making, maximizes resource utilization and increases operational efficiency.
Budget management is based on activity based planning with the ability to define budget templates and supports study specific or site specific budgets. Define costs as per protocol based events/ assessments and procedures to calculate unit costs and aggregate to study or site level costs.
Set up multiple budget versions per site. Manage and track advance payments to sites, partial payments, unscheduled and invoiceable items payments and holdback payments. Set up different payment frequency per site such as monthly, quarterly, etc. Set up a budget approval process and workflows from within the system.