A secure online TOV solution designed for life sciences organisations

Efficiently manage transfer of value payments.

Effortlessly capture and manage transfer of value payments

ApprovalFlow TOV allows you to capture and manage a wide range of transfer of value payments, including company-sponsored events, third-party sponsorships, advisory boards, travel grants, and consultancies. Our unified platform eliminates the need for multiple systems, bringing all related expenses and transfers into a single, streamlined workflow. Say goodbye to manual tracking and hello to effortless management.

Streamline your approval workflow

Our application provides a structured and linear approval workflow, ensuring you quickly review and approve each event or sponsorship. From creating a meeting to reconciling financial information, ApprovalFlow TOV simplifies the process. Confirm all financial values, and once approved, our system generates a detailed transfer of value report, leaving no room for errors or oversights.

Gain insightful reporting and analytics

Harness the power of data with ApprovalFlow TOV's comprehensive reporting and analytics capabilities. Automatically compile transfer of value data into detailed reports, ready for immediate use. In addition, download data as CSV files, enabling further analysis and integration with your preferred business intelligence tools. Gain valuable insights to inform strategic decision-making.

Robust security to keep your data safe

We take data security seriously. ApprovalFlow TOV is hosted on Amazon EC2, a leading cloud hosting provider renowned for reliability and security. We encrypt your sensitive data in transit and at rest, ensuring protection from unauthorized access. Capture and store data with confidence, knowing your data is secure.

ApprovalFlow TOV benefits

Securely capture information related to various transfer of value types in a single, user-friendly platform.
Track individual transfers of value and ensure accurate financial reconciliation.
Use an intuitive interface that requires minimal training, saving you time and resources.
Effortlessly generate transfer of value reports.
Access the browser-based application without the need for proprietary installations.
Utilize time-based audit logs for detailed records, facilitating auditing and accountability.

improves compliance

easY to use

instantly accessible

real-time reporting

Audit trail

saves time

THE IMPORTANCE OF TRACKING AND MANAGING TRANSFER OF VALUE PAYMENTS

The pharmaceutical industry plays a crucial role in healthcare by developing and providing life-saving medications. Given its impact on patient well-being, it is imperative to ensure transparency and accountability in the industry's financial transactions. Tracking transfer of value (TOV) payments is a critical practice that promotes ethical standards and fosters trust among stakeholders.

Enhancing transparency

Tracking TOV payments allows for greater transparency in financial relationships between pharmaceutical companies and healthcare professionals (HCPs) or healthcare organizations (HCOs). Transparent disclosure of payments, such as research grants, speaker fees, consulting fees, and sponsorships, helps shed light on potential conflicts of interest. This transparency cultivates trust among patients, healthcare providers, and regulatory authorities.

Regulatory compliance

Many countries and regions have implemented regulations and guidelines to govern TOV payments in the pharmaceutical industry. Tracking these payments ensures compliance with legal requirements and industry standards. By accurately documenting and reporting TOV payments, pharmaceutical companies can demonstrate their commitment to adhering to regulations and ethical practices, mitigating legal risks and protecting their reputation.

Preventing unethical practices

Tracking TOV payments acts as a deterrent against unethical practices such as bribery, kickbacks, or undue influence. It provides a mechanism to identify any suspicious financial transactions that may compromise patient care or distort medical decision-making. By promoting transparency and accountability, the tracking of TOV payments helps maintain the integrity of the pharmaceutical industry and fosters fair competition.

Improving patient trust

Patients place significant trust in their healthcare providers and the medications they receive. Tracking TOV payments and publicly disclosing these relationships help build and maintain patient trust. When patients have access to information about financial relationships between pharmaceutical companies and healthcare professionals, they can make more informed decisions and have confidence in the integrity of their treatment options.

Driving ethical collaboration

Tracking TOV payments facilitates ethical collaboration between pharmaceutical companies, HCPs, and HCOs. It encourages fair partnerships based on scientific expertise, rather than financial incentives alone. By disclosing these relationships, the industry promotes responsible interactions, fosters innovation, and ensures that medical decisions are driven by the best interests of patients.

Interested in seeing the product in action?

Contact our sales team for a demonstration.

Features to help you capture transfer of value payments faster

Powerful features that enable you to capture, manage and reconcile transfers of value

INTUITIVE INTERFACE

Our user-friendly interface ensures a seamless experience, allowing you to capture all transfers of value.

APPROVAL WORKFLOW

A simple, sequential workflow designed to fast-track your approval process.

DOCUMENT LIBRARY

Upload supporting documentation for each event.

TIMELINE

Stay organized and track all key events seamlessly with our integrated timeline feature. A detailed audit trail of activities ensures transparency and accountability.

RECONCILIATION

The system provides an end-to-end process to capture manage and reconcile each transfer of value payment.

PDF DOCUMENT SUPPORT

Effortlessly upload and mark up supporting PDF documents.

Approval Flow

Transfer of Value

CAPTURE, MANAGE and reconcile transfer of value payments

Compliance

Ease of use

Analytics