Velocity Clinical Research announced a strategic partnership with Palantir Technologies to automate and streamline the notoriously complex payments reconciliation process in clinical trials. This collaboration marks a milestone in applying advanced artificial intelligence (AI) to one of the industry's most persistent administrative challenges. Reconciling invoices and payments in clinical research has long been a fragmented, time-consuming, and error-prone task.
Sites often use multiple siloed systems to manage invoices, while Sponsors and CROs maintain their own financial systems, creating inconsistency and inefficiency. Velocity and Palantir's automated reconciliation solution integrates Palantir's agentic AI technology with Velocity's proprietary workflows. The application successfully processed and reconciled customer payment report entries, saving Velocity's Finance Collections team a significant amount of time and freeing them up to work on high-value tasks.
The partnership between Velocity and Palantir represents a significant step toward modernizing clinical trial operations and unlocking efficiencies that will benefit sponsors, sites, and, most importantly, patients.
