My last post explored the growing revenue execution crisis and the strategic imperative to know and grow your true top line at scale in the wake of digitization. In this post, we’ll look at precisely how companies that strengthen their net revenue have overcome the shortcomings of traditional revenue execution by moving to a commercial system of record, and its benefits.
Traditional revenue execution leaves too much to chance
Companies that stick with traditional approaches are flying blind. Continuing with manual processes and spreadsheets—or doing nothing—means enduring disparate data and outdated processes. Some companies just give up and outsource revenue execution to a BPO, losing control and the ability to put data to work. Others grow a patchwork of point products and siloed processes, proliferating disjointed data flows, managing transactions in isolation, obscuring your visibility and adding integration complexity with the same old results.
All of these options guarantee inaccuracy in knowing and growing your true top line. You simply cannot do the same things and expect different outcomes.
Maximize every revenue moment with an end-to-end platform
An end-to-end unified process for revenue execution gives you the certainty and visibility you need to maximize every revenue moment, scale to infinite possibilities, and change at speed. How does this happen?
A unified revenue execution process interlinks every aspect of every commercial transaction, internally and across channels, including market access negotiation, price and incentive management, and regulatory risk management. As a result, you eliminate silos and gain visibility and control.
You can rationalize pricing across a multiple pricing variables, infinite specific end-customer price points and contracts, incentives, rebates and execution silos. You’re able to optimize every customer price point and quickly configure new offerings, pricing rules, and guided selling to maximize revenue and eliminate revenue leakage. With accurate channel data you also gain new levels of revenue execution insight.
Ultimately, you also always know where you stand. With visibility into every transaction – and its downstream impact – an end-to-end platform provides a reliable single version of revenue truth. Further, you can avoid mistakes before they happen because you have real-time pricing to give the right price to the right customer the first time, so you avoid risk of non-compliance with contracts and regulations.
Model N’s Revenue Cloud Software Platform is built for companies with massive complexity across their revenue execution process. It’s proven with hundreds of the world’s largest companies, processing billions of transactions and keeping pace with emerging business models.
In my next post, I’ll tackle how Model N’s platform and deep domain expertise in key vertical markets help companies in pharma, medtech and high tech maximize revenue and avoid compliance risk.
To learn more about maximizing every revenue moment, request a demo.