Greenphire Releases Latest Innovation in Site Payments Technology Following Multiyear Multimillion-Dollar Investment

KING OF PRUSSIA, Pa.--(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.