Are we leaving cash on the table? What is our capacity for new business? How can I see at any given moment a snap shot of our unbilled labor, aged AR, and revenue projections for this month?
As a CEO of a CRO, your number one priority is running a profitable business, but how can you do this without accurate revenue recognition? How can you expand worldwide if you do not know your working capital?
Over the last 15 years, the number of clinical trials has increased 250% and many CROs are having a hard time keeping up with their rapid expansion. Just imagine what this rapid expansion is doing to your accounting and study management system.
AccuNet has a CRO Accounting & Study Management system built on Microsoft Dynamics that gives you the dashboards and KPIs you need every day to determine study profitability, track revenue recognition, and free up working capital. For example, Chiltern International was able to cut their billing time in half each month with the AccuNet CRO Accounting & Study Management system. Just by cutting their billing time,
Chiltern was able to cut their pass-through expenses from $700,000 to $500,000 and free up $200,000 extra capital per month. Stop financing your Sponsor’s study and free up working capital.
