With coronavirus (COVID-19) firmly established as a global pandemic, organisations in the medical field, healthcare, pharmaceuticals, bio-pharmaceuticals and other related industries need to effectively manage drug development contracts and obligations, clinical trials and manufacturing of medicine. Our leading enterprise contract management software – Contract Insight – provides the solution to these challenges.
Leverage contract management software for clinical trials
An organisation is typically required to undergo a clinical trial to get any new drug or a combination of older medicines approved. Here’s how Four’s contract management software Contract Insight can help you with clinical trials:
- Adding users: Contract Insight allows you to add users (such as doctors, nurses, scientists, administration, paralegals, caretakers, providers and key opinion leaders) in a secure software system that helps you track key information for your clinical trials.
- Third-party tracking: The contract management system enables you to track vendors, suppliers, scientists, health facilities, legal staff, principal investigators and other third-party personnel involved in your clinical trials, and you can interact with them via the collaboration gateway. You can also track credentials, insurance certifications and supplier compliance.
- Creating records: You can create records (including contract records, request records, sourcing records) and track and share data with key users.
- Tracking key data fields: Your team can track key data fields related to your clinical trial such as study type, study start date, estimated study completion date, treatment, description, enrolment, products, medical information, molecules, drug names, product branding and formulas using configurable fields (that you as an administrator can easily add without the assistance of IT experts).
- Budget tracking: Four’s contract management platform allows for detailed budget and finance tracking so you can oversee how you’re funding the trial (whether you’re leveraging internal funds, state funds, federal funds, grants, or investments).
- Contract lifecycle management (CLM): Your team can track workflow tasks, approvals, key dates and checklists (milestones) for each step of the contract lifecycle. Calendar integration, email reminders and workflow task escalation promote accountability within your organisation.
- Contract writing: Our robust contract management suite helps with contract writing thanks to tools that allow you to draft agreements from templates as well as clause merging from your organisation’s clause library. Additionally, the approval process is streamlined and digitised with built-in electronic signatures.
- Secure repository: You can upload and manage important documents, agreements, insurance and filings within a centralised repository.
- Online collaboration: Your team can track the parties involved in a trial and its corresponding contracts with the collaboration gateway, which allows your team to work online with key opinion leaders, scientists, vendors/suppliers, internal users, doctors/nurses, payers, providers and other notable participants.
- Clinical trial feedback: You can send surveys to obtain feedback on quality, treatment and progress, and track results.
- Funding compliance: Your team can track payments to ensure compliance with funding availability and payments to health care providers (HCPs).
Get started managing clinical trials with Contract Insight
Healthcare and pharmaceutical administration, legal professionals and clinical researchers face a myriad of complex challenges. With a flexible contract management software system, organisations can expect the rapid implementation of a solution that helps with the tracking of contracts, clinical trial information, tasks, legal documents and other related legal information.
Contract Insight from Four
Contract Insight is a cloud-hosted (SaaS) or deployed (on-premise) contract management solution. The acclaimed platform is trusted by thousands of professionals for their contract management, legal document management, procurement and sourcing needs. Used by many Fortune 500 companies, Contract Insight gives you real time visibility into your contracts. It doesn’t just shore up your security; it will help you meet contract compliance regulations, centralise your contract management and improve your overall contract administration process.
For more information, contact John O’Brien, CEO at Four Business Solutions, global business consultants and software integrators providing business processes improvements in Finance, Supply Chain & Operations, across a broad range of industries.