Part 3: Maximizing Revenue with Model N
Note: This is part three of a three-part series of blogs focused on Model N’s SaaS delivery model, aimed to showcase the profound expertise of Model N—a driving factor in setting us apart from any other typical SaaS vendor. Read about the benefits intrinsic to all SaaS systems in part one and two.
While a high-level overview of SaaS is redundant for many in the industry, it’s nonetheless necessary when describing Model N’s SaaS delivery model, Revenue Management as a Service (RMaaS) and the expertise we bring to the life sciences industry.
Though other applications easily lend themselves to the cloud, revenue management is far more dynamic and complex, making it a perfect candidate for SaaS. Offering a cloud delivery system for revenue management in the life sciences industry is especially crucial as companies look to build greater value “around the pill” and focus on innovation. With RMaaS, software is kept up-to-date against every version and is seamlessly fine-tuned with support from Model N experts to ensure our customers aren’t exposed to bugs.
While every SaaS delivery model relies on the product, software, and people for its success, a significant part of the value in RMaaS is delivered through our expertise. The adoption of RMaaS comprises of annual upgrades with pre-tested releases that include customer data as well as bug fixes that are regression-tested with the support of our experts, among other benefits.
The value of staying current is a common theme in a variety of different industries as it can severely impact the speed of growth and overall profit. The risk of being outdated in life sciences, however, includes regulatory consequences which come at a very high financial penalty and can negatively impact their reputation. While software changes are one part of staying current, we apply this to performance improvements and our ability to put intelligence against product changes so that our customers are ready to proactively update with our three annual updates.
Model N’s delivery model provides transparency into the driving factors that influence price change across the revenue life cycle. Revenue management in life sciences will continue to be a complex beast, causing headaches for those who choose to apply traditional management techniques to a growing and innovative industry. Model N experts bring over 17 years’ experience to maximizing revenue in life sciences—RMaaS is the next step in our efforts to ensure our customers are able to spend their resources on innovation, rather than on a large-scale software installation project.