Managing clinical trial finances is no small feat. Between tracking site payments, invoice approvals and forecasting future costs, trial sponsors and CROs often find themselves lost in a maze of spreadsheets. And while Excel may have its place, it’s no longer enough to support complex, multicentric trials.
This is where budget visibility in CTMS becomes critical. A Clinical Trial Management System with built-in budgeting and invoicing tools can transform your operational efficiency and help you finally leave those scattered spreadsheets behind.
The risk of spreadsheet chaos
Many trial teams still rely on static tools like Excel to manage dynamic financial processes. That often leads to versioning issues, delays in approvals, and a lack of visibility across departments. When finance, operations and monitoring teams don’t share the same view of the trial budget, errors become inevitable.
With budget visibility in CTMS, everyone is working from the same, up-to-date data, reducing confusion and manual work while boosting financial control.
What to look for in a CTMS budget module
Not all systems are created equal. If you want true control over clinical trial finances, your CTMS should offer:
- Centralised budgeting that adapts to protocol amendments
- Real-time tracking of costs, payments and pending invoices
- User-specific permissions for finance, legal and operational staff
- Integration with your accounting or ERP tools
At Xolomon, our CTMS is designed to support budgeting from start to finish. You can define budgets per site, assign costs to visits or procedures, and even track deviations or reforecast when needed. Everything is traceable, and ready for audit at any time.
From forecast to final Invoice, without leaving the platform
One of the biggest advantages of handling budget visibility in CTMS is that invoicing becomes part of your day-to-day operations, not an afterthought. With tools like automated invoice generation, status tracking, and document archiving, you’ll never wonder again if a payment has been made, or what’s still pending.
Xolomon’s CTMS ensures that budgets are not only accurate but actionable. You can forecast, validate, and close with confidence.
Ditch the excel sheets and simplify oversight
Improving budget visibility in CTMS is about more than saving time, it’s about enabling better decisions. When your team has access to accurate, real-time financial data, your clinical trials run smoother, your costs are controlled, and your compliance is easier to prove.
