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Company News Release
Clinverse, Inc. and the Alliance for Clinical Research Excellence and Safety announced today that they have formed a strategic partnership.
Clinverse, Inc., provider of automated financial management technology solutions for clinical trials, and the Alliance for Clinical Research Excellence and Safety (ACRES), a multi-sector non-profit dedicated to excellence in clinical research, announced today that they have formed a strategic partnership. This strategic 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 clinical trial 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 clinical research 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 research 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.
ACRES President and CEO, Dr. Greg Koski, welcomed Clinverse to the rapidly growing family of ACRES strategic allies. "More effective management of funds-flow throughout the clinical trial process is much needed, particularly as globalization impacts the endeavor. Through our strategic alliance with Clinverse, we intend to develop and implement these capabilities within a global system to benefit the stakeholder community – sponsors, CROs, sites, patients and service providers."
The international reach of both Clinverse and ACRES is an important element of their collaboration. ACRES system is global and, given world-wide issues with security, it is critical that integrated, secure on-line 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 that our strategic alliance with ACRES will complement and extend our global reach while fulfilling a critical need for the research community.”