Condor Software provides an automated intelligence platform for clinical trial financial management. It streamlines R&D expense tracking, offering audit-ready accruals and precise forecasting to improve financial accuracy and visibility.
Funding
Funding not disclosed
Founders
Product
Problem
Managing clinical trial expenses presents significant challenges for accounting and finance teams, often leading to audit discrepancies and inaccurate financial forecasting. The complexity of tracking study spend across multiple vendors and internal departments creates a high risk of material misstatements and budget overruns.
Solution
Condor Software offers an automated intelligence platform designed to streamline financial management for clinical trials. The platform provides audit-ready accruals and precise forecasting capabilities, enabling finance teams to gain real-time visibility into R&D expenses. By integrating with major clinical vendors and accounting systems, Condor automates the reconciliation of clinical activity, budgets, and vendor reporting, thereby simplifying the financial close process. Its robust data validation and control mapping features are engineered to mitigate critical audit matters and prevent financial inaccuracies.
Target Audience
The platform targets accounting and finance departments within publicly-traded biotech and pharmaceutical companies, as well as Big 4 accounting firms that audit these entities.
Features
- Automated accrual calculation for clinical trial expenses, ensuring audit readiness.
- Dynamic forecasting models that allow for scenario evaluation with granular detail.
- Integration capabilities with leading ERP, Procurement, FP&A, and Clinical Operations platforms.
- Control mapping and compliance workflows to reduce financial risk and prevent misstatements.
- Comprehensive audit logs for enhanced transparency and traceability of financial data.
- Centralized platform for unifying communication between accounting, finance, and clinical teams.
- Vendor spend reconciliation against budgets and clinical activity.