CRO Accounting : Connecting Operations & Finance with One Source of the Truth

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.

REGISTER HERE

Integrated Accounting for CRO’s: Connecting with Operations

Integrated Accounting for CRO’s: Connecting with Operations

Are 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:

• 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 invoices
• Use role based dashboards to give your people the information they need
• Accounts Payable has no Excel and manual copies to track anymore reducing their manual billing and re-bill match-up.
• CFO can bill more quickly to free up more capital and increase profits.
• Operations 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.
• Empower study managers with self serve portal for financial questions. You can get operations and finance on the same page.

REGISTER HERE

Workflow Automation & Alerts: Clinical Accounting Business Process

Clinical Accounting: Workflow Automation & Alerts

Join us to discuss best practices within the Clinical Industry to lower your operating costs.

See how “Event Triggers” can automate things like:

• Reconciliation of Percent Complete
• Milestone Billing
• Pass‐through expenses
• Investigator Billing
• Document Management

Aberdeen Group (2010) reported that it costs the average business $18.27 to process a single invoice. With automation, this cost can be reduced to $4.84. Imagine the savings not to mention the number of days it takes to process the invoice 14.2 days on average - well cut that down to 3.7 days to process an invoice.

Attend this FREE one hour webinar and learn how to improve your business processes while providing better visibility into each study. We will show how to automate every day operational tasks such as time reporting or patient visits to trigger events like billing and study updates.

In this webinar you will learn how to:

• Eliminate manual bill/re‐bill match-up - in an Intuitive work environment Increase capital by billing more quickly and reducing the amount of unbilled revenue waiting to be invoiced.
• Eliminate errors - keep reconciliations current and within the correct period
• Reduce billing time - visibility of open, released and pending invoices
• Use role based dashboards to give your people the information they need

REGISTER HERE

Investigator Billing for Study Financials

Investigator Billing for Study Financials. REGISTER HERE

The AccuNet Investigator Billing module automates and streamlines the billing process of patient visits, site protocols, and sponsor re-bills. AccuNet has designed and built this solution to fully integrate with Microsoft Dynamics SL Project Accounting system as well as with various CTMS systems. Investigator Billing bridges the disconnect between CTMS systems and a CRO’s accounting department by providing the following functions:

• Track high level study financial information, including grant deposit balances, aging AR, unbilled summary, and sites stages.
• Quickly drill down into studies by site and subject to view stages, visits earned, and fees paid/unpaid.
• Forecast and manage grant money expenditure and request.
• Spend more time managing the study rather than looking up study protocol, tracking down unapproved vouchers, and searching for sponsor requested financial data.
• Automate and integrate billing and workflows with Dynamics SL.
• Integrates with CTMS.
• View role based dashboards for the study manager, CEO, and CFO.

Attend this webinar to learn about this CRO specific solution to help automate and streamline your investigator billings.

Investigator Billing for Study Financials. REGISTER HERE

Is QuickBooks holding up your CRO's growth potential?

QuickBooks is the world’s most popular small business accounting system with a reported 3.5 million users. There is no denying the success of this product. For the money, QuickBooks provides a good value and a reasonable assortment of features to meet the needs of small and entry level businesses.

While QuickBooks offers a good entry-level solution, it has limitations that prevent the product from meeting the needs of many companies and organizations – especially growing companies and larger organizations.

At the 20th Annual Partnerships in Clinical Trials, a Wall Street analyst said that CROs are poised for 5% growth in 2010 and 10% growth in 2011. The number of clinical trials has increased 250% in the last 15 years.* Are you growing? Are you using QuickBooks?

Is QuickBooks holding up your CRO's growth potential?

Attend this one hour free webinar to learn about why you are leaving money on the table by using a QuickBooks system you have outgrown and what systems are out there that scale with your growth and offer these great benefits:

• Investigator Billing
• Pass-Through Expense Management
• Master Schedule
• Accounting & Study Management
• Study Costing
• Advanced Forecasting

If you would like to see this webinar, please contact AccuNet here to request a special presentation

*reported at 2nd Annual Clinical Trial Forecasting & Budgeting Conference 2009.

5 Ways CROs Can Improve Financial Efficiency

5 Ways CROs Can Improve Financial Efficiency

Attend a free webinar entitled: 5 Ways CROs Can Improve Financial Efficiency. We’ve compiled this webinar based on our experience as accounting and study management software auditors and our inside knowledge of the CRO industry.

5 Ways CROs Can Improve Financial Efficiency

• How much time are you spending tracking investigator payments and reconciling billings to sponsors?
• Learn how to shorten the timeline for processing and collecting pass-through expenses and Investigator Fees. See immediate results on improved customer service and happier project team members.
• Do you use multiple spread sheets to track study financials and manually enter the information into an accounting system?
• Learn how to free up your Study Manager’s (and other high-cost people’s) time that is spent collecting and tracking information.
• Do you have an up-to-the-minute status on profitability of each study?
• Learn how to manage current unbilled expenses and manage budgets vs. actual.
• How difficult is it to manage and monitor multiple contract billing rules, like milestone, percent complete, percent hold back, and unit billing?
• Learn how to better manage multiple billing rules but see how you can use invoice templates to accommodate the most demanding sponsors.
• Do you have stacks and stacks of papers and contracts floating through your business for each study?
• Learn how to “Go Green” eliminate the paper and filing of contracts while lowering your costs of print, paper and postage.

If you would like to see this webinar, please contact AccuNet here to request a special presentation