Revenue Cloud enables digital reinvention for pharmaceutical, medical
device, high tech, manufacturing and semiconductor companies
SAN MATEO, Calif.--(BUSINESS WIRE)--
Model N, Inc. (NYSE: MODN), the leading provider of revenue management
solutions for the Pharmaceutical, Medical Device, High Tech,
Manufacturing and Semiconductor industries, today announced the release
of the next generation of its Revenue Cloud platform. Revenue Cloud now
becomes the first end-to-end platform to enable digital reinvention for
companies in these industries.
About Digital Reinvention
Digital disruption has already reduced the average tenure for companies
on the S&P 500 list from 33
to 12 years, and only 8%
of companies believe their business models will remain viable
through digitization. Pharmaceutical, Medical Device, High Tech,
Manufacturing and Semiconductor companies face a stark choice: reinvent
or perish.
Bold digital reinvention strategies begin with placing customers at the
center of companies’ digital activity. Instead of seeing themselves
through the internal lens of functions, products, and processes,
companies now see themselves through the lens of their customers. These
strategies require a deep understanding of unique customer segment
needs, business models, revenues, and profitability, and more.
Companies that embark on digital reinvention strategies must do the
following:
-
Redefine the business they are in
-
Redefine who their customers are
-
Reinvent their offerings to those customers
-
Delight customers in each interaction
-
Position themselves in the digital ecosystem
-
Realign operations with intelligent internal processes
The Platform for Digital Reinvention
While an offensive platform strategy focused on the demand-side is
proven to yield the best results, only 1.5%
percent of companies have adopted one, mainly due to the lack of a
Digital Reinvention platform.
Model N Revenue Cloud is the first Digital Reinvention platform,
designed specifically for Life Sciences, High Tech and Manufacturing
companies.
This release of Revenue Cloud includes the following highlights:
-
Introduction of Model N CPQ, the next generation of Configure,
Price and Quote, which enables companies to reinvent their offerings
and their business models
-
Introduction of Model N Channel Cloud, an end-to-end solution
to manage the digital ecosystem and omni-channel
-
Introduction of Revenue Cloud for Semiconductors and Revenue
Cloud for Manufacturing
-
New versions of Revenue Cloud for Pharma, Revenue Cloud for
MedTech, and Revenue Cloud for High-Tech
Introducing Model N CPQ
Model N CPQ is the end-to-end, enterprise-grade platform that bridges
the gap between Salesforce and SAP with robustness, performance and
scalability that meet the needs of enterprises.
Model N CPQ enables companies to:
-
Reinvent their offering to their customers by configuring solutions
that are tailored to unique customer needs that include products,
software services, data and other elements.
-
Align their business with those of their customers’ by leveraging new
models such as subscription, outcome base and risk-sharing among
others.
-
Delight their customers by digitizing their experience with new
capabilities, such as self-service.
-
Transform internal operations into intelligence processes with new Intelligent
Approvals, guided selling, and business intelligence, cutting
the process cycle-time to a bare minimum hence significantly enhancing
the customer experience.
-
Drive business expansion through digital ecosystems and omni-channel.
-
Rapidly deploy and execute digital reinvention strategies by
interoperating effectively with SAP and SAP Variant Configurator (VC).
Marketing and Sales can now start with SAP VC KMAT models as a
foundation for new offerings that are tailored to unique customer
needs.
-
Understand the profitability of a deal, a contract, customers and
customer segments with insights that help them understand thoroughly
the economics of their digital strategies. Model N CPQ now quotes
based on net-price including rebates, Market Development Funds (MDF),
and other incentives, not just gross-price.
“Model N next-generation CPQ enables companies to leverage their SAP and
SAP VC infrastructure as a stepping stone for their Digital Reinvention
strategy.” said Neeraj Gokhale, SVP and Chief Product Officer at Model
N. “Creating a new value proposition for customers and aligning the
business models with Model N CPQ is enabling companies to grow their top
line.”
Introducing Channel Cloud
Embracing the digital ecosystem and omni-channel are paramount to
Digital Reinvention. McKinsey
research demonstrated that an emerging set of digital ecosystems
could account for more than $60 trillion in revenues by 2025, or more
than 30 percent of global corporate revenues. In a world of ecosystems,
as industry boundaries blur, strategy needs a much broader frame of
reference. Current point channel solutions fall significantly short of
meeting the sophistication of the ecosystem.
Model N’s new Channel Cloud enables companies to leverage a wide
ecosystem that includes global, multi-tier, sophisticated channels as
part of their Digital Reinvention. Channel Cloud combines intelligent
processes, visibility, sophisticated rewards to align business models,
and a comprehensive data platform.
Channel Cloud enables companies to mesh with the digital ecosystem by:
-
Driving their channels’ marketing execution to meet their revenue
goals with Market Development Funds (MDF) Management. It is the
first MDF solution in a fully integrated end-to-end channel solution.
-
Establishing a digital ecosystem for channel collaboration with Channel
Management. Companies can maximize revenue by avoiding channel
conflict and flawlessly executing with the ecosystem.
-
Incenting the channel to drive revenues with Rebate Management.
Companies can balance discounting decisions and post-deal rebating
based on results to optimize revenues.
-
Ensuring a single source of truth with Channel Data Management
(CDM), putting the entire digital ecosystem on the same page.CDM
delivers real-time, accurate, complete channel data, including sales
and inventory, enabling transparency and channel performance.
Channel Cloud is offered as part of Revenue Cloud for High Tech, Revenue
Cloud for Semiconductors, Revenue Cloud for Manufacturing, and Revenue
Cloud for MedTech.
Revenue Cloud Strengthened
In addition to Model N CPQ and the new Channel Cloud solution, Model N
is announcing a completely new Revenue Cloud for Semiconductor and
Revenue Cloud for Manufacturing suites, and new versions of its Revenue
Cloud for Pharma, Revenue Cloud for MedTech, and Revenue Cloud for High
Tech suites, to enable Digital Reinvention in those industries. Full
details of each new Revenue Cloud solution are available at www.modeln.com
or through the media contact listed below.
For more information on Model N Revenue Cloud, please visit modeln.com/products/revenue-cloud.
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 life sciences,
technology and manufacturing across more than 100 countries, including
Johnson & Johnson, AstraZeneca, Novartis, Microchip Technology and ON
Semiconductor. For more information, visit www.modeln.com.
Model N is a 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: http://www.businesswire.com/news/home/20180212005364/en/
Connect Marketing
Holly Hagerman, 801-373-7888
hollyh@connectmarketing.com
Source: Model N, Inc.