Auxilius

Automate your clinical trial accruals and stay audit-ready.

Happy Friday and a mid‑year check‑in: What’s really happening with biopharma capital and investor sentiment in 2025? I highly recommend reading this insightful summary of the recent discussion between Auxilius' Erin Warner Guill and Sean MacGregor, Executive Director at J.P. Morgan, on the tough yet dynamic funding environment facing biotech. https://lnkd.in/eha3qrVJ

Clinical trial expenses are notoriously hard to audit. Don't believe me? Ask literally anyone who been involved in a biotech audit. But it’s not just because the dollars are high. It’s because... ...Accounting has poor visibility into trial activity and expenses ...Sponsors rely on third parties that are consistently awful at financial reporting ...Data is sitting in silos across CTMS, EDC, CRO portals, spreadsheets, email, physical notepads, and Suzie from ClinOps' memory ...CROs often backdate changes to historical periods in their reporting without warning (or good explanation) ...There's tons of manual entry and error-prone processes ...There's key man risk if the person that owns the accrual model leaves ...There are no access controls or change logs in an Excel model ...Trials are often in multiple currencies ...Invoicing from sites and CROs is often delayed ...CRO contracts are vague on financial deliverables (or lack SLAs for data sharing) ...Site activation, enrollment, and milestone data are often outdated or incomplete ...Trials change and the expense model needs to be updated constantly ...The auditor you're working with doesn't have much biotech industry experience and thus you have to explain to them clinical accounting To people new to biotech, this seems crazy. To us, this is just audit season. What am I missing?

Think it takes forever to close your books? For better or worse, you’re not alone. According to our research, nearly 7 in 10 clinical-stage biopharmas take 9+ days to close. The problem? Clinical accruals and the delayed data behind them. - Vendor estimates can take days (or weeks) to arrive - Even if you have your own patient tracker, EDC data can be delayed and push back your investigator expense estimate On top of that, there's heavy QA needed to make sure all the numbers tie together. The result? Delayed closes, frustrated teams, and more working lunches. Closing the books shouldn’t feel like a scavenger hunt, but for too many, it does. Want more interesting insights? Check out our Mid-Year Outlook in the comments.

Close your books in days (not weeks) with clinical accrual automation.