Velocity Clinical Research, the leading fully integrated site organization, has 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.
Raghu Punnamraju, Chief Technology Officer at Velocity, said: “Velocity’s partnership with Palantir is one more example of how our size and scale is bringing new types of partnerships and innovation to the clinical trials sector. Automating the AR reconciliation process is a game-changer for clinical trial sites. Our collaboration turns months of manual effort into near-instantaneous insights, enabling our finance teams to focus on strategic, high-value work instead of wrestling with spreadsheets. ”
Payments, frequently tied to patient visits or performance-based milestones, vary significantly across studies and sites. This variability makes forecasting revenue, managing cash flow, and aligning payments with budgets extremely challenging for finance teams.
Velocity’s journey to address this issue began last year when its technology team piloted generative AI (Gen AI) agents to identify missed revenue opportunities, such as unrecorded monitoring visits. This initiative laid the foundation for a broader automation project. When Palantir approached Velocity to explore life sciences use cases for its advanced AI technology, automating accounts receivable (AR) reconciliation quickly emerged as a natural fit. Velocity brought deep clinical operations expertise, while Palantir contributed its industry-leading AI systems and modeling capabilities.
With financial workflows now automated through this partnership, Velocity is exploring opportunities to expand intelligent automation into other operational areas, aiming to build a continuously learning financial system that optimizes processes while keeping human experts in the loop. The ultimate goal is to empower teams to focus on strategic growth and patient-centered outcomes.
