This is yet another example of our commitment to empowering our customers with maximum business agility.
Redwood Shores, California (PRWEB) February 24, 2010
Model N, Inc., the leader in Revenue Management solutions, today announced at RAINMAKER 2010 its new Contract Authoring solution, which extends the Model N Revenue Management Suite by allowing business users to rapidly develop contract documents and templates, negotiate and redline contracts, and manage workflows and approvals in the offer development process. Model N Contract Authoring integrates directly into the full life cycle processes of the Model N Revenue Management Suite, enabling Life Science and High Tech organizations to cut contract cycle times, boost productivity, and enhance contract compliance. Model N Contract Authoring is available immediately for current Model N customers, and is also available as an optional extension to Model N's Contract Management application for new Model N customers.
"We are continually looking for ways to enhance Revenue Management life cycle process efficiency and to enable our customers to more quickly and effectively respond to market opportunities," said Ariel Zach, Vice President of Product Development for Model N. "After delivering major process improvements and enhancing flexibility in managing pricing and incentive programs within contracts, we turned our attention to improving how our customers develop contract documents and collaborate among their sales, finance, and legal teams, as well as their customers, to deliver efficiencies in the offer-to-contract process. Contract Authoring is a natural extension of the Revenue Management Suite."
Model N Contract Authoring incorporates Selectica, Inc.'s (Nasdaq: SLTC) best-of-breed Contract Lifecycle Management (CLM) into Model N's industry-leading Revenue Management Suite. Model N chose Selectica's solution after an extensive evaluation process to incorporate the most robust, comprehensive, scalable, and flexible contract authoring technology as a foundation for the Model N Contract Authoring application.
Model N Contract Authoring is a highly collaborative solution for creating and managing agreements, offering enhanced capabilities for building customer and deal-specific pricing strategies. Key contract data and terms are automatically synchronized with downstream Model N applications, ensuring seamless integration of transactional, legal, and financial information in the revenue life cycle, from contract management and compliance to rebate management and regulatory reporting. This seamless approach is the hallmark of Model N's integrated Revenue Management platform and ensures that customers accurately capture contract terms and consistently track milestones and compliance measurements, while streamlining all aspects of the contract lifecycle, including offer development and approvals as well as contract execution, amendment, and renewal management.
Collaborative Features Ensure Speedy Execution while Maintaining Control and Visibility
Model N Contract Authoring allows customers to leverage advanced contract authoring capabilities that greatly enhance offer development efforts and promote vital cross-functional collaboration in the contract life cycle. Key features include:
- Seamless MS Word integration; drag-and-drop contract template creation using a library of approved language and terms
- Dynamic clause library support for managing legal and contractual terms and conditions
- Highly-configurable dynamic workflows with serial and parallel approvals; graphical views of contract approval status
- Third-party contract support with ability to import documents in MS Word, PDF, or via fax and extract and map critical terms and clauses
- Customizable notifications based on key events as well as external system updates
- Flexible and sophisticated reports and dashboards with full audit trail down to the field level
"These new contract authoring capabilities will allow Life Science sales, finance, IT and legal teams to rapidly transform innovative and complex business strategies into reality," said Sujay Jadhav, Life Sciences General Manager at Model N. "This is yet another example of our commitment to empowering our customers with maximum business agility."
"Our semiconductor, component, and high tech manufacturing customers are very interested in pursuing innovative pricing and contracting strategies that improve margins and market share without incurring unwanted compliance issues," said Rich Fitchen, High Tech General Manager at Model N. "By integrating world-class contract authoring into our High Tech Revenue Management Suite, Model N is delivering the only comprehensive solution in the market that supports growth while mitigating compliance risk."
About Model N
Model N is the leader in Revenue Management solutions, offering an integrated suite of applications for analytics, pricing strategy and execution, contracts, compliance, rebates, fees and chargebacks optimized for the industry practices of Life Sciences and High Tech companies. Enabling the creation of a seamless, end-to-end process from price setting through settlements payment, Model N's uniquely integrated approach eliminates revenue leakage and delivers the visibility and controls needed to avoid the risks of non-compliance to government reporting regulations such as Sarbanes-Oxley and government pricing requirements. Customers include: Boston Scientific Corporation; Bristol-Myers Squibb Company; Cypress Semiconductor Corporation; Intersil Corporation; Linear Technology Corporation; Medtronic, Inc.; Microchip Technology Inc.; Micron Technology Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; ON Semiconductor, Inc. and Pfizer, Inc.; and STMicroelectronics. Model N is located in Redwood Shores, California. For additional information, visit http://www.modeln.com.
Model N is a mark of Model N, Inc. All other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.