ClearTrial Launches Industry-first Software Platform for Integrating Clinical Trial Operations from Plan to CashTM, Driving Operational Efficiencies and Accelerating Clinical Development
Version 3.0 featuring new ClearTrial TRACK provides integrated planning, outsourcing, project tracking, reforecasting, accrual management, and reporting across clinical development
Chicago, IL - September 28, 2009 - ClearTrial (www.cleartrial.com), the leading provider of Clinical Trial Operations (CTO) software, announced today the release of v3.0 of its award-winning web-based clinical trial software. Following the rapid industry adoption of ClearTrial PLAN and ClearTrial SOURCE software, ClearTrial v3.0 introduces ClearTrial TRACK -- the only system in the industry enabling fast and accurate project tracking, management of accrued liabilities, and reforecasting for change orders and midstream study adjustments. ClearTrial v3.0 seamlessly combines all three products, providing the industry's first integrated management platform for clinical trial planning, forecasting, outsourcing, and project and financial tracking.
ClearTrial v3.0 eliminates one of the biggest barriers to operational efficiency in clinical operations today: the lack of a fast, accurate, and consistent framework for managing clinical trial information from Plan to CashTM. With v3.0 and ClearTrial TRACK, life sciences companies can quickly create clinical trial cost, resource, and timeline forecasts they can trust; efficiently negotiate and manage outsourced studies and licensing arrangements; and easily track projects against a detailed operational plan to pinpoint cost variances, underperforming studies, and accrued liabilities.
"Given the intense pressures today on pharmaceutical and biotechnology companies to support growing levels of global clinical research activity under tighter budgets, aggressive time lines and heavy capacity constraints," said Ken Getz, senior research fellow at Tufts Center for the Study of Drug Development, "there is a huge premium that sponsor companies -- and their contract service providers -- are placing on more effective resource planning and management solutions."
Since the introduction of the groundbreaking ClearTrial PLAN and ClearTrial SOURCE clinical trial operations software, Top 20 biopharmaceutical companies, Clinical Research Organizations (CROs), medical device companies and small biotechs have embraced the software. These organizations have come to rely on ClearTrial's industry intelligence, embedded clinical knowledge, and activity-based scenario planning to add speed, flexibility, accuracy, and consistency to their clinical operations.
Now, with v3.0 and ClearTrial TRACK, these organizations can gain visibility and control over project status, accruals, and change order management by providing a fast, accurate, and consistent means of tracking actual study progress against planned budgets and timelines.
Key benefits of ClearTrial TRACK:
Instant visibility into project health
ClearTrial TRACK provides a "dashboard" view of studies, with early warnings to budget overruns and underperforming projects, as well as Earned Value Management (EVM) metrics tailored for use in clinical development. Easily compare planned against actual progress; quickly obtain schedule and cost performance as well as percent complete; and get detailed analyses of project trends, including time to project completion and its estimated cost at completion.
Fast, accurate accruals management
ClearTrial TRACK offers a consistent, repeatable process showing accrued liability, integrated with the financial forecast. Automatically calculate cost accruals based on actual work performed; get accurate accruals updates when projects change; and achieve greater accuracy from unit-based costs, leveraging your study assumptions and ClearTrial's industry intelligence.
Quick reforecasting for midstream study adjustments or change orders
ClearTrial TRACK can easily reforecast and rebaseline studies that are underway. Get fast, accurate, and consistent reforecasting for change orders, protocol amendments, and other specification changes; maintain an audit trail of changes to assumptions and their downstream impact; and automatically calculate the budget, resource/FTE, timeline, and unit price impact for the remainder of the study.
In addition, ClearTrial v3.0 further enhances the software's ability to help life sciences companies plan and manage global clinical trials, with the addition of expanded currency support and the setting of exchange rates. Combined with country-specific industry intelligence such as regulatory delays, patient enrollment rates, and monitoring costs, the enhanced ability to plan and track projects in the currency of choice provides unmatched capabilities for conducting single-country, regional, or global studies.
"As the industry strives for greater efficiencies and performance in R&D, ClearTrial delivers greater visibility into and control over clinical trial costs, resources, timelines, and project status," noted ClearTrial CEO Mike Soenen. "By linking clinical and operational data in a single, integrated system, we are the first to provide senior management in life sciences with the means to effectively streamline their clinical development."
About ClearTrial®
ClearTrial is the leading provider of Clinical Trial Operations (CTO) software, a seamlessly integrated system for clinical operations planning, forecasting, outsourcing, and project tracking. ClearTrial's award-winning software helps life sciences companies streamline their clinical operations from Plan to CashTM without sacrificing quality of results, providing executives and functional leaders in clinical operations, resource planning, finance, outsourcing, and project management with a common platform that promotes speed, accuracy, and consistency throughout the organization. For more information please visit http://www.cleartrial.com.
ClearTrial® and the ClearTrial logo are registered trademarks, and Plan to CashTM is a trademark, owned by ClearTrial, LLC, which may be registered in certain jurisdictions. Any other company or product names mentioned in this release are hereby acknowledged as registered trademarks or trademarks of their respective owners.