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 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.
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.