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September - 2014 - Special issue > Company of the Year - Revenue Management Solution

Model N: Strengthening Revenue, Strengthening Businesses

Kavitha G.
Wednesday, October 8, 2014
Kavitha G.
With the advent of Revenue Management solutions, companies have seen a significant transition in their business strategies. But to succeed under modern quality focused payment models they have to go beyond the conventional Revenue Management framework. The traditional standards, or dark ages as Model N refers to them, such as spreadsheets and home-grown systems not only lead to revenue compliant risks, but also create billions of revenue loss to the enterprise, leveraging a fatal business failure. As per an IDC study, pharmaceutical companies are undergoing a huge loss of 4.4 percent of overall revenue ($11 billion) per year by mismanaging incentives and rebates.Semiconductor and component manufacturers leave as much as $50 million on the table, per deal, due to poor volume price compliance. Aiding this colossal confrontation with its integrated end-to-end Revenue Management platform suite is Model N, Inc. headquartered in Redwood City, Calif.

Revenue Management is a process that manages every dollar that touches the top line of the Income Statement. It encompasses pricing, contracting, incentives and rebates. Incepted in 1999, Model N is the leading provider of Revenue Management solutions both in the cloud and on-premise platforms for the Life Science and Technology industries. This vertical specific platform brings together pricing processes, contract creation, rebate management and regulatory compliance into a system of integrated applications. With Model N's approach enterprises can gain more visibility and control over pricing, contracting, incentives and deal execution. With embedded industry best practices and robust analytics, Model N's comprehensive Revenue Management solutions enable an optimization, automation and execution, thereby maximizing profitable revenues, augmenting market access and managing compliance risk. Model N's Revenue Management applications address thePharma, Medtech and HighTech verticals, catering to over 49,000 users who range from Fortune 500 to emerging businesses across 100 countries.

Model N employs a business process which not only helps organizations in cutting down the cost of all functions, but also enables them to expand beyond the strategic boundaries into different channels. Integrating and automating analytical capabilities in their solutions, the top-notch crew of Model N manages the pricing revenue strategies of their customers and helps them replace irrelevant strategies with compatible frameworks, enabling a sturdy growth. The exclusive service suite of Model N is also engineered to deliver measurable ROI, boosting up the revenue rates.

Firmly rooted in the belief that 'Innovation is the key to Success', this customer-centric organization vests its excellence around four core values, named DARE. As the name suggests, employees are trained to: Demonstrate respect for the individual and their personal choices;Adhere to hierarchy of responsibilities; Reach for the dream; and Exemplify uncompromising integrity and passion at Model N.

Model N has also developed the next generation of Revenue Management solutions on its Revvy platform in a partnership with Salesforce.com. The all new Revvy Sales Application Suite (SAS) will be showcased at salesforce.com's Dreamforce 2014 along with Revvy Configure Price Quote (CPQ) and Revvy Global Price Management (GPM). Model N pioneers the integration of Revenue Management solutions with CRM, cited as a strategic imperative to drive competitive advantage for companies seeking to grow their revenues in complex global eco-systems.


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