Clinverse, a Durham, N.C.-based provider of automated financial management technology solutions for clinical trials, and the Alliance for Clinical Research Excellence and Safety (ACRES), a Cambridge, Mass.-based, nonprofit dedicated to excellence in clinical research, have formed a strategic partnership. The alliance, focused on improving financial sustainability of clinical research sites, brings Clinverse’s investigator payment solutions to ACRES’ global site network.
ACRES uses an alliance model spanning the industry to construct an integrated system for the timely and cost-effective conduct of clinical research globally. ACRES alliance partners are developing an open access global network of sites, a shared technology platform and standards and processes for accreditation, performance and quality metrics.
Currently, the manual processes, including financial operations, used widely across the industry are error prone and labor intensive. This results in inefficiencies and payment problems that negatively impact site productivity and delay research study start-up.
Clinverse’s technology solutions, including flagship product ClinPay, address problems plaguing sites—late or inaccurate payments to investigators—by automating the financial management of clinical trials. By implementing ClinPay, sponsors and CROs reduce workload, time and related costs. ClinPay provides complete real-time, role-based visibility into and control over the financial status of clinical trials, including payments, invoicing and cash management.
The international reach of both Clinverse and ACRES is an important element of their collaboration. ACRES system is global and, given worldwide security issues, it is critical that integrated, secure online clinical trial payment technology solutions be thoroughly audited and approved by industry experts from a third-party organization.
“Clinverse and ACRES share the common goal of streamlining clinical trial processes, including the payment process to sites,” said Steve Ayala, president and co-founder of Clinverse. “We believe our strategic alliance with ACRES will complement and extend our global reach while fulfilling a critical need for the research community.”