Greenphire Releases Latest Innovation in Site Payments Technology Following Multiyear Multimillion-Dollar Investment
25 June 2024 - 10:00PM
Business Wire
Greenphire, a leading innovator in software solutions for
improving clinical research site performance and participant
satisfaction, is launching next generation capabilities within
their Site Payments solution to enhance site sustainability, drive
trial efficiency, and increase financial transparency and
control.
Greenphire’s Site Payments technology has reached a milestone in
supporting more than 1,300 studies and executing more than 7.6
million payments in nearly 80 countries. Having gathered
substantial feedback from sites and sponsors, following a multiyear
investment of over $20M in R&D, Greenphire has kicked off a
series of next generation capabilities, including:
- Bulk payment request module significantly reduces
time and effort for site staff in submitting payment requests
- Greenphire Connect offers real-time data exchange with
any EDC or CTMS and instantly interprets incoming data to automate
payments
- Powerful study setup APIs make it easy for sponsors to
connect us to their data, and keep us connected regardless of data
source
- Robust training, onboarding, and support includes live,
instructor-led trainings, as well as on-demand, in-application
resources, a fully-localized Knowledge Center, and a dedicated,
expert site payments implementation team
- Sophisticated tax functionality will include the ability
to capture multiple tax types/rates, as well as data sharing via
ERP interoperability with enhanced customer and site reporting
- Expanded regional payment rails will offer the fastest
and lowest cost payment transaction costs in the industry, reducing
transaction fees by at least 30% on a global scale
- Optimized client and site analytics experience will
provide portfolio financial summaries, enhanced study forecasting,
site financial management dashboards, and more
“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,” said Kyle Cunningham, Chief Product Officer,
Greenphire. “We have invested heavily in our people, process, and
technology to bring to bear the market-leading platform to execute
site payments across the globe. Feedback from site user groups has
been incredibly positive with one site noting, ‘I wish every
sponsor/CRO would use this solution.’ That’s why hearing from
sites, participants, sponsors, and CROs is so important in fueling
our innovation and the future of the industry.”
As a recognized leader in site payments, Greenphire regularly
publishes thought leadership on the topic and is an active
contributor of the Society for Clinical Research Sites (SCRS) Site
Payments Initiative, a partnership that aims to mitigate various
financial obstacles faced by sites including but not limited to
holdback payments, patient stipend taxes, and delayed payment
frequencies.
You can access the full site payments market report data
here.
About Greenphire Greenphire is a Thoma Bravo-backed
software company specializing in providing comprehensive solutions
for streamlining clinical trials. With a focus on optimizing
patient experiences, Greenphire offers innovative software for
travel and logistics support, automated payment solutions, and
trial budgeting software.
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Greenphire Amy Sitnick Vice President, Marketing
215-609-4315 amy.sitnick@greenphire.com
SCORR Marketing Holli Kroeker PR & Media Manager
308-338-2358 pr@scorrmarketing.com