The new facility in Hyderabad is in a prime location to serve the domestic Life Science industry and the Asia-Pacific High Tech industry
Hyderabad, India (PRWEB) June 30, 2010
Model N, Inc., the leader in Revenue Management solutions, has announced that it is expanding its India operations to bring its best-of-breed Revenue Management platform to the burgeoning Asia-Pacific Life Science and High Tech marketplace and better support its growing global customer base.
The state-of-the-art facility is located in DLF Cyber City, in Gachibowli, Hyderabad. The company is investing 80 to 100 crores in its India operations over the next three years by hiring aggressively in the areas of product development, professional services, and customer support services. Model N plans for its India operations to double over the next six months and grow to 250 people over the next year.
"The new facility in Hyderabad is in a prime location to serve the domestic Life Science industry and the Asia-Pacific High Tech industry," said Srikanth Gadamsetty, General Manager, Model N India. "In addition, a talented and energetic India workforce will help expand our product management and development capabilities, deliver services worldwide with greater efficiency, and enable us to more easily scale to meet the needs of the increasingly globalized Life Science and High Tech industries."
"I am excited about the role our India operations will play in bringing the highest quality products and services to the growing Asia-Pacific market and our customers worldwide," said Zack Rinat, Founder and CEO, Model N. "More and more industry leaders are partnering with Model N as part of their international business strategies and we are committed to delivering the support they need to leverage the benefits of Revenue Management across their global operations."
"The growing presence of niche software companies like Model N has helped Andhra Pradesh to be the leader in the information technology industry," said Dr. Konijeti Rosaiah, Chief Minister of Andhra Pradesh. "Our industry-friendly measures and policies are helping global companies like Model N to make long-term investments in the Hyderabad region. Model N's investment in Andhra Pradesh will not only benefit the region's pharmaceutical and high tech industries but will also create good jobs."
"Our decision to establish our Asia headquarters in Andhra Pradesh was largely driven by Dr. Rosaiah's vision for the region to become a hub for the pharmaceutical and high tech industries," Rinat added. "I would like to thank him for his support of emerging companies, and Model N aspires to exemplify the Chief Minister's vision."
Over the past eighteen months, Model N has experienced unprecedented momentum as the industry's choice for Revenue Management by gaining a record number of new customers among the top global pharmaceutical, biotech, generics, medical technology, and high tech companies. The Model N India expansion is part of a broader ramping up of worldwide operations that will accelerate the company's ability to address its growing global market. In addition to the growing presence in India, Model N is also expanding its U.S. operations and plans to increase its overall workforce 20% by the end of September.
About Model N
Model N is the leader in Revenue Management solutions, offering an integrated suite of applications for analytics, pricing, contracts, compliance, and settlements optimized for the industry practices of Life Science and High Tech companies. Enabling the creation of a seamless, end-to-end process from price setting through settlements payment to analytics, 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: Atmel Corp.; Boston Scientific Corp.; Bristol-Myers Squibb Company; Cypress Semiconductor; Medtronic, Inc.; Microchip Technology Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; Pfizer, Inc.; and STMicroelectronics. Model N's worldwide headquarters are 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.