Science Exchange Announces New Clinical Development Solution

The Business Process Challenge in Clinical Development

Clinical trials, especially large-scale studies such as oncology trials, involve increasingly complex outsourcing arrangements. The shift from full-service outsourcing (FSO) to functional service provider (FSP) models has created new operational burdens for clinical operations teams. In an FSP model, sponsors directly manage a diverse set of specialized suppliers responsible for various trial components, requiring greater coordination and oversight. Key business process challenges include:

• Study Intake and RFI/RFP Management: Coordinating RFIs and RFPs for specialized services becomes time-intensive, often managed via email and spreadsheets.
• Budget Lifecycle and Rate Card Validation: Ensuring supplier budgets align with pre-negotiated rate cards in MSAs requires meticulous review and introduces risks of errors.
• Collaboration Between Stakeholders: Communication across sponsors and multiple vendors often lacks a central hub and is done via email, leading to potential communication silos and downstream budget errors.
• Tracking Change Orders: Managing budget amendments and ensuring proper documentation is a manual, fragmented process that often relies on complex Excel models and PDFs.
• Spend and Payment Processing Transparency: Consolidating data from diverse suppliers for reporting and analysis is a significant challenge, particularly around invoices and attribution of invoices to specific budget lines.

These challenges are common across the full lifecycle of clinical trials and highlight the critical need for a digital supplier orchestration platform purpose-built for clinical development operations.

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Modernizing Clinical Operations with Supplier Orchestration Software

The Science Exchange Clinical Development Solution addresses these pain points head-on, empowering sponsors with a centralized platform to manage the complexities of FSP and FSO models. Key features include:

• Digital Workspaces: Streamline all supplier engagements, budgets, and contracts on a single platform, providing visibility and control across the trial lifecycle.
• On-Cloud Budget Grids: Digital budget grids enable strong budget compliance and reduce version control errors.
• Rate Card Compliance Automation: Automatically validate budget lines against supplier-specific rate cards in MSAs, flagging discrepancies to ensure compliance at the line level.
• Real-Time Collaboration: Foster seamless communication between sponsors and vendors, eliminating the silos that often delay trials.
• Change Order Log Management: Digitize the process of tracking and approving budget modifications, ensuring an audit trail for compliance.
• Spend Data Mining: Centralize and validate supplier spend data at the budget line level to generate actionable insights and ensure alignment with trial budgets, whether at the study or program levels.

“In an era where R&D budget complexity threatens strategic decision-making, Science Exchange’s clinical development solution acts like a digital Rosetta Stone. By converting fragmented PDF and Excel data into structured, actionable intelligence, they’re not just digitizing budgets—they’re transforming how life sciences organizations unlock hidden financial insights. Imagine having instant, granular visibility into every budget line item, enabling precision cost optimization that was previously impossible,” said Wynn Bailey, a former partner at PwC, Life Sciences Operations practice.

The Science Exchange Clinical Development Solution is a transformative step forward for the industry, addressing the operational burdens of increasingly complex outsourcing models. By enabling sponsors to bring their supplier engagements, budgets, and collaboration processes onto a single technology platform, Science Exchange is paving the way for faster, more efficient clinical trials.

“The shift to FSP outsourcing models has introduced unprecedented challenges for clinical operations teams, particularly in managing a growing network of specialized suppliers,” said Elizabeth Iorns, CEO and Co-Founder at Science Exchange. “Our orchestration platform is purpose-built to address these challenges, providing sponsors with the technology to digitize, automate, and streamline their workflows across all components of clinical development. Whether it’s a central labs study or a complex Phase 3 oncology trial, the solution is designed to deliver efficiency, transparency, and process compliance.”

Source: Businesswire