Finance and Accounting
With access to IMS GrantPlan ® plus a large proprietary internal database of procedures and costs, CFS Clinical works with you to develop a realistic and fair investigator grant budget and payment schedule. If you have already developed a budget, our experts can provide a consultative review and analysis – helping ensure that your budget is in line with both protocol requirements and the latest industry trends.
CFS Clinical has built the CFS Payment InSite™ system to properly calculate and efficiently administer payments to investigator sites. Our highly controlled, fully integrated payment-processing environment allows us to manage grant payments and pass-through expenses for investigative sites around the world. We deliver payments through electronic funds transfer (EFT) and provide detailed reports to payees in their local language and currency.
Partnering with CFS Clinical for Contract and Regulatory Services and Global Payment Services offers a host of benefits for your finance team:
- Improved budgeting, planning and consolidations
- Reduced manual data redundancy
- Improved reporting and analytics
- Virtual audit capabilities
- Consistent visibility of your global operations
- Accurate and timely accruals
- Decreased financial risk by ensuring that payments are in line with contracts
Moreover, as a result of the CFS Clinical initiative to adopt SSAE 16 standards as part of our control environment, our internal controls meet the requirements of Sarbanes-Oxley Section 404.
Outsourcing your accounts payable function to the Global Payment Services team at CFS Clinical reduces both your costs and your workload tremendously. Missing and late investigator payments are no longer your concern because we manage all site payments and associated customer service to your research partners and make sure those payments are accurate and valid. In fact, our efficient business processes and integrated technologies significantly reduce the number of payment-related issues and questions from investigators. However, should a site have a question, a CFS Clinical representative will be on the case using a sophisticated case management application that tracks and documents the reason for the call and follows it through to resolution.