Medidata, a global provider of cloud-based technology and data analytics for clinical research, announced that after an exhaustive 18 month selection process that encompassed all of the leading site payments technologies, Worldwide Clinical Trials has selected Medidata Payments Cloud to streamline accurate, timely payments on behalf of their clinical trial sponsors.
Medidata Payments Cloud is the industry’s only global site payment technology that’s driven by EDC. Focused on executing predictable, successful studies across a range of therapeutic areas, including neuroscience, cardiovascular diseases, immune-mediated inflammatory disorders (IMID) and rare diseases, Worldwide will leverage Medidata Payments Cloud to automatically trigger, calculate and disburse payments directly into an investigative site’s bank account. These capabilities will further enable Worldwide to transform the CRO experience for sponsors and sites – shortening payment cycle times, increasing accuracy and eliminating hours allocated to reconciliation and reporting.
“Worldwide’s success as a CRO is down to our ability to partner successfully with our trial sponsors and sites—going above and beyond in the delivery, operation and support of all of our services,” said Anthony Doyle, chief financial officer, Worldwide. “Medidata Payments Cloud stood out as a truly end-to-end solution, driven by EDC, and for the opportunity it provides us to reimburse sites as quickly and accurately as possible—important as we invest in processes and technology that help Worldwide continue to stand out as a top-ranked performer for service and customer loyalty.”
Medidata’s unified, cloud-based platform, including industry leading EDC Rave which is fully integrated with Payments, is the only end-to-end solution on the market with full support for global tax calculations and disbursements to ensure accurate and timely payments. With on-demand funding, Medidata Payments enables organizations to establish a more robust financial strategy. In addition, companies are able to save significant resources usually spent on reconciliation thanks to real-time access to accrual and forecasting reports.
“Timeliness and accuracy in payments are critical to the success of contract research organizations, and achieving both can be incredibly challenging,” said April Mulroney, managing director of Payments at Medidata. “We’re proud that Worldwide has selected Medidata Cloud Payments, which will help them create an industry-leading site payment operation, ensuring sites are easily paid on time, and reporting to sponsors is accurate and timely.”