Navigating clinical trials with confidence: Oracle's integrated approach

Achieving success in the evolving life sciences industry requires effective clinical trial planning and financial management. A recent webinar on the integration of Oracle ClearTrial with Oracle Cloud EPM brought together industry leaders to discuss how this powerful combination can transform the way life sciences organizations operate. The session featured a deep discussion from Brad Fisher, Prasad Joshi and Mario Prohasky from Baker Tilly and Kristin Ludwig from Oracle, who shared their insights and enthusiasm for these two fabulous Oracle SaaS innovative products. 

Understanding ClearTrial 

Kristin Ludwig, Senior Principal Engineer at Oracle’s Life Sciences business unit and a 17-year veteran of ClearTrial, began by explaining the core functionalities of Oracle Life Sciences ClearTrial. ClearTrial is designed specifically for planning and outsourcing clinical trials, tailored for life science customers. The primary customer base consists of sponsors responsible for overseeing and managing their clinical development pipeline. For sponsors, ClearTrial enhances clinical trial planning and sourcing, improving speed, efficiency and accuracy. 

Contract research organizations (CROs) focus on preparing proposals to submit to their sponsor clients. They benefit from ClearTrial's framework, which offers pre-built clinical intelligence to understand the complexities of a trial based on phase Therapeutic area and indication. This allows CROs to benchmark themselves before submitting proposals back to their sponsor clients. For CROs, ClearTrial streamlines the RFP development process, reducing cycle times and leveraging validated benchmarks.  

This tool is designed to improve the overall efficiency of clinical trial planning and delivery, ensuring that life sciences organizations can make informed decisions quickly. 

ClearTrial also plays a crucial role in mitigating risk, helping life sciences organizations navigate the complexities of clinical trials, through scenario planning and trial design optimization with greater confidence and precision. 

Integration with Oracle Cloud EPM 

Prasad Joshi, Senior Manager at Baker Tilly with over 20 years of implementing EPM solutions and extensive experience in healthcare and life sciences, emphasized the significance of integrating ClearTrial with Oracle Cloud EPM. This bundled solution offers unmatched visibility and control over research and development (R&D) spending, enabling life sciences companies to plan and assess the financial impact of clinical trials with greater granularity. The integration facilitates real-time synchronization, accurate forecasting and proactive strategic planning, allowing organizations to optimize their R&D spending and improve financial planning.