When it comes to the redefinition of the front office for Life Sciences, Model N continues to drive market share through thought leadership
Redwood Shores, California (PRWEB) May 24, 2010
Model N, Inc., the leader in Revenue Management solutions, today announced that another top ten global pharmaceutical leader has selected Model N's entire Pharmaceutical Revenue Management Suite to align its pricing, contracting, settlements, and regulatory compliance processes across its North American operations. The new Model N solutions will form the foundation for all commercial and government contracting for the customer's businesses across a broad portfolio of products including generics, vaccines, consumer, and specialty products. The selection comes after an extensive evaluation of competitive offerings, including products from its legacy contracting vendor.
"When it comes to the redefinition of the front office for Life Sciences, Model N continues to drive market share through thought leadership," said Lara Cecere, Partner, Altimeter Group. "This recent purchase of the Revenue Management Suite by another Global Top Five pharma manufacturer is a testimonial to Model N's market differentiation."
"The pharmaceutical industry is in a period of rapid change. In addition to market pressures and M&A activity, manufacturers are also grappling with the impacts from health care reform legislation in the world's largest pharmaceutical market," said Sujay Jadhav, General Manager, Life Sciences, at Model N. "Given these circumstances, manufacturers are making investments in Revenue Management as a foundation to drive new global business strategies and the improvements in operational flexibility they will require. This important win and our continued momentum among global pharma leaders reflect the confidence the industry has in the proven Model N platform and in our commitment to building long-term partnerships in the industry."
Selection Continues Top Pharma Market Momentum
With this important customer selection, Model N continues its momentum as the preference for global top ten pharma and biopharma evaluating Revenue Management over the past eighteen months. Industry innovators are increasingly turning to Model N's proven, best-of-breed Revenue Management solutions to address growing pricing and contract complexity and ever-changing regulatory mandates such as the recent health care reform act (HCR). In response to these challenges, Model N has enhanced its Revenue Management Suite with impressive new functionality, powerful analytics, and unique capabilities for both the domestic and global market.
- Model N will allow the company to enhance visibility and control over its entire revenue life cycle by aligning the complex interrelationships between commercial and government business, which has become more essential than ever in light of the operational and strategic impacts of health care reform
- Integrating Model N's powerful Revenue Management Intelligence (RMI) analytics platform with the transactional applications in the Revenue Management Suite will give the company access to in-depth, actionable information and tools, from dynamic, real-time performance metrics data to advanced modeling capabilities that can help gauge the effect of regulatory mandates on commercial business and the bottom line
- Seamless integration with customer's SAP ERP infrastructure will accelerate time to value and enhance the order-to-cash process across the various business areas
- Deployment will form the Revenue Management backbone of the newly reorganized company, replacing both custom systems and a legacy contracting vendor's systems implementations
About Model N
Model N is the leader in Revenue Management solutions, offering an integrated suite of applications for analytics, price management, contracts, compliance, rebates, fees, and chargebacks optimized for the industry practices of Life Science 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; Medtronic, Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; and Pfizer, Inc.. 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.
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