Redwood Shores, CA (Vocus/PRWEB) April 19, 2011
Model N, Inc., the leader in Revenue Management solutions, has announced the general availability of Release 5.5 of its industry-leading Biopharma and Medical Technology Revenue Management Suites. Developed in response to customer feedback and evolving industry needs, the new release further enhances and streamlines core revenue life cycle processes to increase margin and improve business strategy by delivering a powerful new solution on the RM Impact analytics platform, new applications, and enhanced functionality to current and future Model N customers. Release 5.5 builds on Model N’s seamless integration with leading ERP and CRM systems to extend front office capabilities in the contact to contract life cycle while expanding the ability to align revenue and margin goals with deal-time controls and complete visibility and oversight across global operations. Release 5.5 is available on-premise or via RM Cloud, Model N’s SaaS and Managed Services delivery platform.
Release 5.5 Highlights
- Part of the RM Impact analytics platform, Model N Deal Impact allows manufacturers to model, adjust, and maximize the potential of every deal and contract scenario, including discount levels and promotional programs using consistent metrics and KPIs such as best price or revenue risk, margin, and market share potential while evaluating business impact. Deal Impact, along with Model N Performance Impact and Price Impact, expands the ability to provide anytime, anywhere business insights and actionable information to the front office and the front lines by leveraging data in Model N or legacy Revenue Management systems.
- Model N Capital Contracts builds on more than 10 years of experience supporting leading medical equipment manufacturers to allow Medical Technology instrument, device, and equipment manufacturers that sell or lease capital equipment to fully automate the development and implementation of the industry’s most complex pricing and rebating strategies. The application creates an end-to-end process that effectively manages contracts, tracks contract compliance, and executes contract-defined and index-based price increases. It provides extensive out-of-the-box support for commonly used pricing strategies such as lease and rental contracts, CPRR (cost per reportable result), and other procedure-based pricing methods, as well as upcharge-based pricing on disposable and consumable products.
- Model N Contract Authoring delivers advanced contract authoring capabilities that greatly enhance offer development efforts and promote vital cross-functional collaboration in the contract life cycle. Released last year, Contract Authoring in Release 5.5 has expanded the ability to create and synchronize contracts directly in the application; perform comprehensive contract redlining and side-by-side comparisons; include dynamic clauses, alternate terms, and fallback positions; enable bi-directional MS Word integration; and more.
- Model N Strategy Designer provides the ability to define rebate strategies that model, measure, and execute even the most complex performance-based programs. By leveraging an integrated Revenue Management platform, Strategy Designer can be used by advanced business users as well as IT or Model N Professional Services to create, validate, and roll out new strategies to sales, contracting, and pricing operations teams for use in the contracting process.
- New regulatory application features and functionality include new temporal bundle reallocation capabilities for Discount Reallocation Management and Best Price initial forecasting for Government Pricing
“With Release 5.5, Model N is providing the capabilities our customers and the industry at large needs to drive margin improvement and gain competitive advantage in a global Life Sciences market,” said Rich Fitchen, CMO and Senior VP, Marketing and Business Development at Model N. “The new applications and functionality in Release 5.5 reflect Model N’s ability to rapidly respond to changing market dynamics, as well as its commitment to providing customers with best-in-class, domain-specific solutions that are constantly evolving to meet their unique business needs.”
For more information on Model N Life Sciences Release 5.5, click here to register for a complimentary Web Seminar on May 25 at 11 a.m. PST.
About Model N
With over $150B in annual revenues across 50 countries managed in our systems, Model N supports Life Sciences and High Tech manufacturing customers through their entire revenue life cycle across their pricing, deal, contract, compliance, settlements, and channel processes. Our deep industry expertise and best practices, highly configurable applications, and comprehensive services support your organization on premise or in the cloud. Whether you are an emerging business or a global leader, Model N results in revenue. 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.