Model N Announces Vertical Applications to Unify CRM and Revenue Management in Vertical Markets

Delivers Solutions for Vertical Pharmaceutical, Manufacturing, Medical Devices, Semiconductor, and Component Manufacturing markets REDWOOD SHORES, CA – April 23, 2014 – Model N, Inc. (NYSE: [...]

Delivers Solutions for Vertical Pharmaceutical, Manufacturing, Medical Devices, Semiconductor, and Component Manufacturing markets

REDWOOD SHORES, CA – April 23, 2014 – Model N, Inc. (NYSE: MODN), the leading Revenue Management solutions provider, today announced the immediate availability of two applications, REVVY CPQ, REVVY Global Price Management, on the Salesforce1 AppExchange, empowering businesses to connect with customer, partners and employees in a whole new way.

Model N is delivering vertical-specific applications built on the Salesforce1 Platform for the pharmaceutical, manufacturing, medical devices and semiconductor, and component manufacturing verticals, enabling companies to maximize their revenues.

Companies in these verticals face the challenge to grow their revenues in a complex, global eco-system that is driven by sophisticated buyers who deploy global procurement strategies, multi-tier distribution channels and an increased regulatory environment. The integration of revenue management solutions with CRM is a strategic imperative to drive competitive advantage.

The first two offerings are immediately available on the Salesforce1 AppExchange athttp://www.appexchange.com:

  • REVVY Global Price Management: Enables pharmaceutical and medical devices companies to maximize their global revenue by providing a global single SaaS platform to manage price
  • REVVY CPQ: Enables effective and efficient configuring, quoting and pricing for products and subscription services

In addition, REVVY Sales Application Suite for semiconductor and component manufacturers was jointly announced today at Model N’s Rainmaker Conference.

“We are delighted to deepen Model N’s relationship with salesforce.com,” said Zack Rinat, Founder & CEO of Model N. “The combination of salesforce.com solutions and Model N’s deep vertical expertise and solutions will enable our customers to fulfill their vision of a unified end-to-end CRM and Revenue Management solution.”

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.

Model N Announces Vertical Sales Management Solution for Semiconductors and Component Manufacturers

REVVY Sales Application Suite addresses the complexity of global design-to-revenue life cycle REDWOOD SHORES, CA – April 23, 2014 – Model N, Inc. (NYSE: MODN), the leading revenue management [...]

REVVY Sales Application Suite addresses the complexity of global design-to-revenue life cycle

REDWOOD SHORES, CA – April 23, 2014 – Model N, Inc. (NYSE: MODN), the leading revenue management solutions provider to the life science and technology industries, today announced a new sales solution built on the Salesforce1 Platform for the semiconductor and component manufacturing industry.

As a Cloud Alliance partner of salesforce.com, Model N will deliver REVVY Sales Application Suite, a vertically designed cloud solution that will allow semiconductor and electronic component manufacturers to strategically manage their entire direct opportunities pipeline and channel design registrations with out-of-the-box functionality, designed to address their very specific vertical requirements.

REVVY Sales Application Suite will track distributors, manufacturing reps and contract manufacturers associated with an opportunity, and manage the global collaborative sales process that sees the ownership of the opportunity transfer between stakeholders throughout the deal’s life cycle. This visibility will enable companies to correctly reward channels based on their contribution to demand generation. The solution, which is built on the Salesforce1 Platform, will be integrated with Model N’s Revenue Management Suite.

“We are delighted to expand our partnership with salesforce.com” said Zack Rinat, founder & CEO of Model N. “The combination of salesfoce.com solutions and Model N’s deep vertical expertise and solutions will enable our customers to fulfill their vision of an integrated end-to-end CRM and revenue management solution.”

“As a Model N and salesforce.com customer we are excited about the new opportunities we will deliver to the semiconductor industry,” said Peter Austin, VP WW Global Sales & Marketing Operations at NXP. “A CRM solution bolstered by Model N to include the unique needs of the semiconductor industry for Revenue Management quoting, pricing and channel management capabilities will allow the industry to truly manage the design to revenue process end-to-end, across direct and channel businesses.”

“Maxim started using salesforce.com before it implemented Model N,” said Rick Gould, executive director of sales operations at Maxim Integrated Products. “It was really up to us to figure out how to make CRM and revenue management work side by side. This new partnership will allow us to explore how we can streamline CRM and Revenue Management, pulling back key transactional data and connecting it to opportunities and design registrations making it accessible easily to our sales teams.”

Semiconductor and component manufacturers have been slow to move away from the legacy systems and manual processes that currently support their opportunity funnel and deal management, as a solution has not been available in the market.

“Managing the complex design cycles, tying designs to quotes, to contracts and to orders and then extending these capabilities into the channel are strategic imperatives for semiconductor ” said Paul Grimme, Executive Vice President STMicroelectronics. “Together with Model N and salesforce.com, we can offer the industry a strategic path to achieve these goals in less time and for a lower cost.”

“We are excited to work with Model N to expand our footprint and market share in the semiconductor and component manufacturing industry,” said Ron Huddleston, senior vice president of Global ISV and Channel Alliances at Salesforce.com. “Together with Model N, we will help drive increased value to our customers, give them rapid access to our leading cloud solutions, the Salesforce1 Platform and a wealth of our partner ecosystem apps built on the same platform.”

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.

5 Tips to Simplify Rollout and Maximize ROI of CPQ Software

When you make the decision to move from manual quoting to an automated CPQ process, you’re taking a significant step toward stopping profit erosion. You’re liberating your salespeople from the [...]

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When you make the decision to move from manual quoting to an automated CPQ process, you’re taking a significant step toward stopping profit erosion. You’re liberating your salespeople from the time drain associated with configuring complex products with lots of moving parts, so they can spend their time selling more. But you still need to understand the best practices that will maximize your return on investment in CPQ software.

Every CPQ solution requires some degree of upfront planning in order to function properly and efficiently. But, this legwork shouldn’t be too much work itself. The goal is to do this setup correctly, quickly and only once, then reap the benefits for all time.

So how should you approach this start-up process for your CPQ rollout?

Your first step is to assign a CPQ admin to identify dependencies and relationships among your components or product options. When you’re dealing with complex products, selecting one component can have a ripple effect on subsequent choices. Relying on salespeople to remember these dependencies will negate the value of automating CPQ and lead you straight back to delayed and inaccurate quotes.

Take the time to do preliminary modeling and map your component relationshipsbefore you add the components to the CPQ system. Once you know how the components are related, you can quickly create option and option groups and define product configuration rules.

Effective configuration rules are the basis for eliminating quoting errors. Consider that you will need different types of rules including compatibility rules, must-select rules and visibility rules. For instance, if options don’t work with each other, you’ll need a compatibility rule that prevents a salesperson from selecting both options together.

It’s important to outline configuration rules in plain English. Define them in business terms so it’s easier to understand how to create those rules in the CPQ system. Decide it it’s more efficient to describe these rules as positives or negatives.

Most importantly, test that your rules work the way that you expect. Confused salespeople are a surefire way to kill adoption of your CPQ system—you have one chance to get your salespeople onboard with your new automated CPQ system, so it needs to work as expected. Test rules as soon as you’ve created them and test the entire model to ensure the system works as planned.

While this legwork is time-consuming, it’s the foundation for successfully automating your CPQ process. When your CPQ admin takes the time to follow the best practices we’ve described above, your CPQ system will enable salespeople to quickly create accurate quotes, win customers and keep those customers happy.

For more details on these and other best practices for effectively implementing CPQ, download our best practices sheets.

Semiconductor Industry Leaders to Address Key Challenges and Solutions at Model N Rainmaker 2014

Pharmaceutical leaders implement Model N to improve margins and mitigate risk, as surveys highlight growing urgency in responding to global pricing pressures. REDWOOD SHORES, CA – April 7, 2014 – [...]

Pharmaceutical leaders implement Model N to improve margins and mitigate risk, as surveys highlight growing urgency in responding to global pricing pressures.

REDWOOD SHORES, CA – April 7, 2014 – Model N, Inc. (NYSE: MODN) Model N Rainmaker 2014 key segments will focus on the semiconductor industry to address industry pricing, buyer-seller information flow, and rising R&D and manufacturing costs.

Eleven leaders in the semiconductor industry will speak at Rainmaker 2014, the 10th annual Model N Revenue Management Summit for technology companies, which will take place in Savannah, Georgia, April 23-24, 2014.

TJ Rodgers, CEO, Cypress Semiconductor, and Jim Camp, CEO, NegotiatorPro, will explore how manufacturers can take a more professional, scientific and analytical approach to deal negotiation, abandon age-old concepts around the importance of relationships and how buying decisions are always based purely on logic. End-customer expectations for continued ASP decline are sharply contrasted by rising costs of R&D and manufacturing. Semiconductor and component manufactures need to start resetting those expectations.

Ron Jones, CEO, N-Able Group, and George Stelling, co-founder of MarginXL Capital Partners and former CIO of NVidia, will chair two panel discussions on the role of sales team in demand creation, in an industry in which end-customers typically dictate both design and volume. Panelists include leaders from Microchip, PMC, Atmel, CSR and NXP.

Additional expert panel discussions will pursue this theme and look at how sales can add value when customers have all the information they need and how sales intelligence can influence business performance.

“This summit will highlight the growing consensus in the semiconductor industry that they can no longer support their customers’ expectation that prices will continue to drop every year,” says Chanan Greenberg, senior director, strategic markets, Model N.

“With R&D costs and manufacturing costs rising, accelerated ASP erosion will directly hit margin. As a result, companies have to find new ways to ensure volume agreements are met and stand their ground when negotiating contracts and prices.”

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.

Four Multi-national Pharmaceutical Companies Go Live with Model N Global Price Management

Pharmaceutical leaders implement Model N to improve margins and mitigate risk, as surveys highlight growing urgency in responding to global pricing pressures. REDWOOD SHORES, CA – April 7, 2014 – [...]

Pharmaceutical leaders implement Model N to improve margins and mitigate risk, as surveys highlight growing urgency in responding to global pricing pressures.

REDWOOD SHORES, CA – April 7, 2014 – Model N, Inc. (NYSE: MODN)

Four global pharmaceutical giants have gone live with Model N Global Price Management (GPM) in the past three months, as they look to optimize margin performance and reduce risk. This reflects increased momentum in the pharmaceutical industry to adopt revenue management solutions in the face of greater commercial and regulatory pressures.

The largest firm has implemented the Model N solution to establish effective global pricing strategies across a large portfolio of 100+ products and 10,000 SKUs in more than 120 countries, by ensuring centralized transparency and control over all aspects of pricing.

The company recognized the need for an enterprise-grade solution to help mitigate the risk in pricing decisions and reduce profit erosion. “With mounting pressures on price such as international referencing now more common at both launch and on an ongoing basis, we can no longer adjust price in one country without thoroughly understanding the potential chain reaction across other countries and its impact on the return for our innovations,” says a senior pricing executive.

“Model N’s Global Price Management allows us to spend more time on higher-value activities such as next-generation analytics supporting price decisions and less time on lower-value activities such as error-prone data manipulations or endless international calls and email chains to enforce governance processes.”

Building momentum

Model N is building on its existing successful relationships with the top 20 pharmaceutical companies, with the implementation of enterprise-wide price management initiatives in a further three leading biopharmaceutical firms, the largest of which operates in more than 200 markets.

In each case, Model N is driving substantial improvements in new product launch sequencing and in the execution of global price cut mitigation strategies, as well as reporting, industry governance and analytics, by replacing existing home-grown or spreadsheet-based systems. The cloud-based Model N solutions are cost-effective, versatile and future-proof, allowing pharmaceutical companies to simplify complex approval processes and react swiftly and intelligently to market changes.

Right solution right time

A series of Model N surveys over the past year have pointed to a growing understanding of the need for change, although there is a still long way to go in the adoption of best-practice strategies and solutions to meet industry challenges. For example, 87% of pharmaceutical companies are becoming more proactive in managing pricing but are finding that a lack of data visibility is hampering progress. However, more than a third (34%) are actively addressing the issue and are re-engineering their pricing and revenue management processes with this goal clearly in mind.

Reinforcing this, Mark Hill, senior director, market access EAME at Gilead Sciences, spoke at a recent Model N/Gilead webinar attended by 700 senior industry managers. He emphasized the importance of adopting automated solutions to provide centralized visibility, so that firms can make well-informed pricing decisions in the face of increasing commercial, regulatory and social pressures.

“Industry analyst Gartner has recognized the growing maturity of the sector, confirming revenue management is now more widely understood and closer to mainstream adoption,” says Model N director solutions, James Robinson. “Model N is leading the way here, reflected in our growing success with many leading pharmaceutical companies who recognize our unrivalled sector expertise and proven solutions.”

“Worldwide implementation of the Model N GPM solution in just six months across our four latest customers also offers a powerful example of how we can work with leading pharmaceutical companies to leverage our joint strengths and quickly deliver outstanding value.”

Emphasizing the growing importance of revenue management, Robinson will speak about global price management at the forthcoming 4th annual Model N and EPP Life Sciences Forum, Pricing under Pressure, at Montreux, 4-5 June 2014.

About Model N

Model N is the leader in Revenue Management solutions. Model N helps its customers maximize their revenue and reduce revenue compliance risk by managing every dollar that impacts their top line encompassing contracting, pricing, incentives, and rebates. Model N leverages its deep industry expertise to support the unique business needs of Life Sciences and Technology companies in more than 50 countries. Global Customers include: Actavis, Allergan, Atmel, Bristol-Myers Squibb, Dell, Johnson & Johnson, Linear Technology, Merck, Marvell, Maxim, Micron, Nokia, Novartis, Novo Nordisk, ON Semiconductor, and STMicroelectronics. Learn more at: modeln.com. Model N is traded on the New York Stock Exchange under the symbol MODN.

Legal

Model N® is the registered trademark of Model N, Inc. Any other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.

Manual Quoting Risks Closing the Deal

When was the last time you wanted MORE risk, when trying to close a deal? Many sales organizations fail to realize that by continuing to employ manual processes for quoting, they are accepting [...]

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When was the last time you wanted MORE risk, when trying to close a deal? Many sales organizations fail to realize that by continuing to employ manual processes for quoting, they are accepting unnecessary risk.

A manual process generally incorporates the collection of spreadsheets, product sheets, and then painstakingly building a quote document. Generating this quote involves multiple steps, all of which drain time and resources that could otherwise be used for more selling. The typical process calls for the salesperson to determine the customer’s needs and then relay this information to pricing and sales support staff that generates the quote using spreadsheets. Before the quote goes to the customer, the salesperson must first obtain internal approval from his boss who may review the quote immediately or may sit on it for a couple days, depending on his schedule. Finally, the quote is ready for the customer, or is it?

While a manual approach to quoting may save the company money on software, it falls short in a number of ways that can put closing the deal at risk.

Costly Human Errors

A manual quoting process is a recipe for eroding profits and damaging sales rep credibility. Most sales organizations have a complex combination of products and services that they need to quickly and accurately quote to customers. However, a manual process relies on people taking into account endless pricing variables—products, packaging, bundling, discounts—that sales teams can often misquote. There’s nothing to prevent mistakes other than the human eye catching an error.

There is also missed opportunity in up-selling and cross-selling, as most often the salesperson is not creating the quote in the CRM system. A manual process is cumbersome for the salesperson to work through different scenarios for up-selling and cross-selling complementary products or services.

<>Lost Cycle Time

In the quoting and proposal stage, manual processes are a road block that slows down the sales cycle. There is often more than one price sheet to hunt down and discounting rules can be unclear. Data sheets to support the quote are held in disparate file stores, draining even more time. Product offerings also change constantly and salespeople cannot be expected to be well-informed about a product list containing thousands of SKUs that change daily. Manually configuring the quote to include the correct components requires that salespeople hunt down the right SKUs, verify the components are compatible and confirm that each required component is specified, which adds unnecessary time to the sales cycle.

In addition, each quote must be reviewed and approved to ensure there is not too much discounting and there is enough margin health. The quote cannot be sent to the customer without every item being approved. And, while a quote goes through your internal approvals, the customer is left waiting and your competitors have time to enter a bid of their own.

In short, a manual quoting process not only leaves money on the table, but it also leaves customers feeling less than satisfied. And a potentially unhappy customer is a risk you can’t afford.

Today, there’s something you can do about it. Cloud-based software solutions make it easy to automate the error-prone and lengthy manual process for generating quotes. Automating configure, price and quote (CPQ) processes enables your company to reduce risk and earn more money from new prospects and existing customers.

Your sales department is charged with generating your revenue and it makes sense to improve their efficiencies and make sure every choice they make is correct, compatible and profitable.

Learn more about what solutions like REVVY CPQ can do to automate everything in your quoting process.