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Veeva Systems has introduced Veeva Vault Payments, a new add-on application for Veeva Vault CTMS that manages the payment and reimbursement process to clinical research sites. Vault Payments automates payment tracking and provides complete financial visibility across study partners. Now sponsors and CROs can speed payments to sites and provide full transparency into payment status and schedules, all within their Vault CTMS workflow. Vault Payments is now available and three early adopter customers already have implementations underway.
“The complexity and global nature of clinical trials have made site payments increasingly difficult,” said Henry Galio, senior director for Veeva Vault CTMS. “Veeva Vault Payments automates the payment process so sponsors and CROs can pay sites accurately and on-time.”
Manual processes and fragmented systems often delay payments, leading to high dissatisfaction among clinical research sites. With Vault Payments, sponsors and CROs can automatically match clinical activities with a site’s fee schedule to pay sites faster with greater visibility and accuracy.
Vault Payments leverages study information such as patient visits, procedures, and milestones in Vault CTMS to create payable items and payment requests for a specific study or site. Customers have the flexibility to configure fee templates and schedules, make adjustments on-the-fly, and generate payments for multiple sites in every country, all at once.
Integration with Vault CTMS enables sponsors and CROs to automate payment processes within their existing trial management activities and workflow to ensure sites get paid. Real-time reports also give sites a complete view of all upcoming payments.
Vault Payments is part of the Veeva Vault Clinical Suite, the industry’s suite of unified clinical operations applications for CTMS, eTMF, study start-up, and payments on a single cloud platform. Vault Clinical Suite enables companies to eliminate system silos, streamline end-to-end trial processes, and improve collaboration across sponsors, CROs, and clinical research sites.