Dr Kuno van der Post
OmniComm Systems, Inc.
Integrated Solution Eliminates Potential for Errors and Reduces Costs for Sponsors by Utilizing EDC Data to Trigger Automated Payments
RALEIGH, NC, September 4, 2013 – Clinverse, Inc., a global technology and eclinical commerce network for clinical trials, announced today it has formed a strategic partnership with OmniComm Systems, Inc., a leading provider of EDC solutions.
Clinverse’s ClinPay solution automates sponsor payments to clinical vendors, investigators, and other parties throughout the entire financial lifecycle of a clinical trial. OmniComm’s TrialMaster EDC suite automates data collection and data validation and offers the unique capabilities of centralized monitoring with auto-redaction and automated SDTM export utility, allowing for efficient and costeffective trial management.
Together with ClinPay, the combined solution automatically evaluates study data within the EDC system against contract criteria and directly generates financial transactions and all related accounting information. This combination optimizes cost savings by streamlining an inherently errorprone, manual process and substantially reduces labor costs associated with the payment and accounting process for clinical vendors and investigative sites.
“We are pleased to be in a strategic partnership with such an innovative and forward-thinking EDC provider as OmniComm,” said Steve Ayala, Clinverse President and head of strategic partnerships. “OmniComm’s global footprint expands Clinverse’s reach to a broader international audience of pharmaceutical and biotech companies, CROs, research, and medical device organizations that can greatly benefit from automated payment capabilities in conjunction with their EDC services.”
Clinverse’s open application programming interface (API) allows for seamless integration with existing systems, such as OmniComm’s TrialMaster suite, as well as other external eclinical data sources, such as CTMS, IxRS, ERP systems, and data warehouses. When integrated with OmniComm’s TrialMaster EDC, sponsors and/or CROs are assured that accurate and direct financial transaction data feeds are automatically routed through the appropriate channels resulting in consistent and timely payments, whether by procedure, visit or any other contracted term.
“Most of the clinical sites we work with are required to use multiple EDC systems for various studies. Two of their biggest frustrations are the lack of intuitiveness of most EDC systems and the need for accurate and timely study payments,” stated Kuno van der Post, SVP of Business Development, OmniComm Systems, Inc. “Partnering with Clinverse and offering our TrialMaster EDC alongside their ClinPay solution allows us to make an exceptionally positive impact at the sites by addressing both of these key concerns.”
About OmniComm Systems
OmniComm Systems, Inc. (www.OmniComm.com) provides customer-driven Internet solutions to pharmaceutical, biotechnology, research and medical device organizations that conduct life changing clinical trial research. OmniComm's growing base of satisfied customers is a direct result of the company's commitment to deliver products and services that ensure ease of use, faster study build, ease of integration and better performance. OmniComm's pricing model is easily understood and allows companies ranging from small, to large, to maximize their clinical research investments. OmniComm Systems, Inc. has U.S. headquarters in Fort Lauderdale, FL and European headquarters in Bonn, Germany, with satellite offices in New Jersey and the United Kingdom, as well as sales offices throughout the U.S. and Europe.
About Clinverse, Inc.
Clinverse, Inc. is a global technology and financial services company that delivers highly secure, cloudbased financial management and payment solutions for the clinical trials industry. Founded in 2008 and headquartered in Raleigh, NC, the company delivers clinical financial solutions through the only truly collaborative and transparent financial management and payment platform. Used by leading BioPharma companies, Clinverse has developed ClinPay®, a fully-configurable, game-changing SaaSbased platform which manages tens of millions of dollars in financial transactions for thousands of global sites while supporting payments in 140 different currencies. For more information, please visit www.clinverse.com.
Safe Harbor Disclaimer
Statements made by OmniComm included in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as the Company's ability to obtain new contracts and accurately estimate net revenues due to uncertain regulatory guidance, variability in size, scope and duration of projects, and internal issues at the sponsoring client, integration of acquisitions, competitive factors, technological development, and market demand. As a result, actual results may differ materially from any financial outlooks stated herein. Further information on potential factors that could affect the Company's financial results can be found in the Company's Reports on Form 10-K and 10-Q filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.