FM - Considerations

Overview

StudyTRAX handles financial management-related data in the same manner as all other data points.  In other words, there is not a formal concept of financial data in the application.   However, the breath of functionality available in StudyTRAX makes it a reasonable option the financial management.  Below are guidelines and considerations with regard to determining whether the financial management capabilities of StudyTRAX would work for your group. 

Determining The Fit:

In big-picture terms, the IDEAL conditions for the use of StudyTRAX to manage financial data are: 

• The total number of standard core fees to be tracked is about 150 or fewer items, not including occasional items here and there that are not a part of this core set.
• Study-related fees (e.g., IRB review) and subject-related fees can be invoiced separately.
• For any given study, the fees remain the same throughout the entire study and, relatedly, the fee for a given item does not vary across subjects.

The types of requirements that DO NOT fit well for using StudyTRAX for managing financial data are:

• A need for budget projections.
• Milestone tracking and reporting.
• A need to integrate fees with a separate financial management system.

For additional discussion about whether managing financial data would work for your please, please contact StudyTRAX support staff ( support@sciencetrax.com ).