KING OF PRUSSIA, PA — In a significant leap forward for clinical trial efficiency and financial management, Greenphire has introduced a suite of next-generation capabilities within their renowned Site Payments solution. This advanced technology is designed to bolster site sustainability, enhance trial efficiency, and provide unprecedented financial transparency and control.
With a robust track record of supporting over 1,300 studies and executing more than 7.6 million payments across nearly 80 countries, Greenphire has utilized extensive feedback from sites and sponsors to develop these new features. Following a multi-year R&D investment exceeding $20 million, the company has rolled out innovations aimed at simplifying the complex landscape of site payments.
Key enhancements to the Site Payments solution include a bulk payment request module that drastically reduces administrative tasks for site staff, and Greenphire Connect, a revolutionary data exchange tool that interfaces in real-time with any Electronic Data Capture (EDC) or Clinical Trial Management System (CTMS), automating payments based on incoming data. Additionally, new study setup APIs facilitate seamless integration with sponsor data sources, ensuring continuous connectivity.
To support these technical advancements, Greenphire is also bolstering its training, onboarding, and support framework. This includes live instructor-led training sessions, on-demand resources within the application, a comprehensive Knowledge Center, and access to a dedicated payments implementation team. Furthermore, enhanced tax functionality and expanded regional payment options are set to reduce transaction costs significantly, by at least 30%, globally.
Kyle Cunningham, Chief Product Officer at Greenphire, highlighted the importance of these developments, stating, “Navigating site payments is incredibly complex and burdensome for sponsors and sites, with 82% of sites reporting that delays in payments from study sponsors have a negative impact on their business operations.” He added that the positive feedback from user groups underscores the value of Greenphire’s investment in innovation, aiming to set a new standard for site payment execution worldwide.
Greenphire’s latest advancements reflect a deep commitment to improving the clinical trial process for sponsors, sites, and ultimately, patients. By addressing critical pain points around site payments with cutting-edge technology and comprehensive support, Greenphire is paving the way for more efficient, transparent, and cost-effective clinical trials.
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