SAN FRANCISCO, June 10, 2020 /PRNewswire/ -- Strategikon Pharma, developer of the industry's only SaaS platform for clinical trial business operations, today announced the release of Clinical Maestro LEAD™ for ongoing trial budget management.
Even when a Sponsor knows precisely what is happening in their trials, that doesn't always correlate cleanly to the budget. Relationships with clinical trial Providers are frequently managed using an Excel-based 'budget grid'. Clinical Maestro LEAD drives transparency and continuity into the clinical trial accrual reporting and forecasting process. As a result, Sponsors can see the trajectory of their program and focus resources on proactive change management. LEAD helps Sponsors attain 'budget certainty', make better informed decisions, and identify risks sooner to maximize what is seen and limit the unforeseen.
"Input from our life sciences customers is that only tracking project milestones doesn't offer enough insight into the actual completed tasks and study progress," said Anca Copaescu, Founder and CEO of Strategikon Pharma. "They need to know what has been spent against what was planned without turning their entire team upside down. Clinical Maestro LEAD offers a new, modern approach to budget spend analysis and accrual reporting by introducing system-driven due diligence, and multi-dimensional spend and operational driver comparisons. This provides greater visibility into the timing and rate of expense. Having access to Earned Value Analysis (EVA) in real time keeps study teams ahead of the change curve and decreases incidence of unnecessary change orders."
"With the complexity level of today's clinical trials, the use of manual, static tools like Excel to manage budgets is unsustainable. Especially with the impact of COVID19, understanding forecast changes is critical," said Farah Ahmad, CCO for Strategikon Pharma. "Clinical Maestro LEAD automates the entire EVA process with structured actual spend reporting and metrics so Sponsors can bring order to their accrual and forecast process. Ultimately, Sponsors get greater transparency that helps to deepen their Provider Partnerships."
LEAD is part of the Clinical Maestro Sponsor Edition, the industry's first and only suite of unified clinical business operations applications for planning, budgeting and managing clinical trials on a single cloud platform. Actual units performed and milestones achieved are reported by Service Providers directly into Clinical Maestro LEAD. LEAD uses this data combined with the baseline plan and budget to provide Sponsors with actual reporting and study budget reforecasts with only a single click.
About Clinical Maestro™ by Strategikon Pharma Clinical Maestro is the cloud-based platform that modernizes outsourcing for clinical programs. It enables all participants in clinical trials, Sponsor Companies, Vendors and Service Providers, to plan studies, model and manage clinical contracts in an entirely systematic way. Budget, source and manage, faster, more accurately, and with less effort. For more information, please visit www.clinicalmaestro.com.