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,†has 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.”
