Chief Revenue Officers, Market Access Leaders, and Channel Chiefs
Can Deliver Increased Intelligence and Quickly Respond to Market Demands
SAN MATEO, Calif.--(BUSINESS WIRE)--
Model
N, Inc. (NYSE: MODN), the leading provider of cloud revenue
management solutions for the pharmaceutical, medical device, high tech,
semiconductor and electronic components manufacturing industries, today
announced the general availability of its new Revenue Execution Cloud.
This latest release empowers Chief Revenue Officers, Market Access
Leaders, and Channel Chiefs to create more efficient sales
organizations, more sophisticated channel incentive programs, and to
deliver increased insights and intelligence on their revenue-driving
programs and activities. Combined, these innovations allow Model N
customers to increase top-line revenue, improve margins, and respond to
market demand more quickly.
Model N life sciences customers will benefit in key areas of their
revenue strategy, execution and risk management processes with Model N
Revenue Execution Cloud for Pharma and Revenue Execution Cloud for
MedTech.
Highlights for life sciences customers:
Revenue Strategy
- Assessing a “Healthy Deal” quickly using Advanced Analytics -
The newest feature in Configure, Price and Quote (CPQ) enables MedTech
sales teams to utilize a 0-100 scale for quick feedback about the
health of a deal.
- Navigating Complex IRP Rules - To respond to the evolving
dynamics of global pricing, enhancements made to Model N Global
Pricing Management (GPM) enable users to simulate more realistic price
rules within International Reference Pricing (IRP), such as using
multiple “reference” baskets to better support country-specific
irregular rules.
- Enhanced Visibility - Global Pricing managers can now get a
bird’s eye view of pricing dynamics in their sphere of influence. This
shows recent changes in prices in relevant markets and products, price
governance actions pending approval, and a ready- reckoner to find
current product prices in different markets. This enables
prioritization and management by exception for the revenue under their
control.
Revenue Execution
- Streamlined Processes - Provider Intelligence module provides
analytics and intelligence that gives sales leadership, operations,
and field teams the insight needed to leverage against compliance and
KPIs.
- Experiencing Improved Efficiency across Model N and Flex platforms
- The new chargeback module, significantly improves usability and
efficiency for the analysts, and is available to both the Model N and
Flex customer bases.
Revenue Compliance
- Reduced Discrepancies - Increased efficiency when producing
ROSI and PQAS reports under Medicaid rebates with the ability to
generate those reports electronically.
- Enhancing the Model N Intelligence Platform - The newest
addition to the Intelligence Cloud offerings, Government Pricing
Intelligence, gives our customers the ability to create ad-hoc reports
easily for GP price lists, transaction data and workbook results.
- Remaining Compliant with Regulatory Updates - All users,
regardless of application, will be able to submit according to updated
ASP requirements on CMS’ new online platform. With this new platform,
CMS has also modified the filing format.
Model N high tech, semiconductor and electronic components customers
will benefit from advancements in key areas of Model N Revenue Execution
Cloud for High Tech, including flexibility and efficiency, incentive
management, and intelligence and insight.
Highlights for high tech customers:
Flexibility and Efficiency
- Mobile Deal Management: The power of Model N is extended to the
mobile workforce. Large, distributed sales teams can fully manage
deals while on the move, making them more responsive to customer needs
and creating a more efficient sales team.
- Channel Management: New options for calculating price
protection based on effective price date make it easy to move products
through the channel.
Incentive Management
- Rebate Management: New sliding-scale rebates enable finance to
grant payments upon partial achievement of rebate goals, motivating
channel sales organizations to continually meet sales goals.
- MDF Management: New ability to allocate a single fund to
multiple partners by percent. This increased flexibility makes it fast
and easy to allocate funds and quickly improve channel sales.
Intelligence and Insight
- Deal Intelligence: Enhanced real-time analysis of end-customer
patterns at quote and contract definition time makes it easy to set
prices, reduce contract negotiations, and create contracts with a
higher probability of compliance.
- Price Intelligence: Price distribution dashboards for both
channel sales and direct sales provide greater predictability when
pricing products, helping to preserve margins and closing deals.
- Revenue Intelligence: Extended management with the new
opportunities/registrations performance dashboard enables sales
leaders to predict revenues more easily and make improvements more
quickly.
- Channel Data Management: New revenue, inventory, and partner
performance dashboards provide better self service and broader
insights for channel sales and marketing.
“Model N has consistently shown its leadership in revenue execution by
responding to the needs of its diverse set of customers,” said Neeraj
Gokhale, senior vice president and chief product officer at Model N.
“This release was no exception. For example, the new intelligence and
insights capabilities will allow our customers to make better, timely
decisions on individual opportunities as well as make improved long-term
strategic choices.”
About Model N
Model N is the leader in revenue management solutions. Driving
mission-critical business processes such as configure, price and quote
(CPQ), contract and rebate management, business intelligence, and
regulatory compliance, Model N solutions transform the revenue lifecycle
from a series of disjointed operations into a strategic end-to-end
process. With deep industry expertise, Model N supports the complex
business needs of the world’s leading brands in pharmaceutical, medical
device, high tech, manufacturing and semiconductors across more than 120
countries, including Pfizer, AstraZeneca, Sanofi, Gilead, Abbott,
Stryker, AMD, Micron, Seagate, STMicroelectronics, NXP, Sesotech, and
Southern States. For more information, visit www.modeln.com.
Model N® is the registered trademark of Model N, Inc. Any other company
names mentioned are the property of their respective owners and are
mentioned for identification purposes only.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181105005142/en/
Model N
Sherri Walkenhorst, 801-373-7888
swalkenhorst@modeln.com
Source: Model N, Inc.