Model N Unveils the Latest Release of Its Revenue Management Solutions
Customers can use Model N to realize process improvements while maximizing revenues across the entire lifecycle.
Redwood City, CA – June 22, 2016 – Model N, Inc. (NYSE: MODN), a leading provider of cloud-based revenue management solutions, today announced the general availability of its Revvy Revenue Management and Revenue Enterprise Cloud products for life sciences, high tech, and manufacturing. The Spring ‘16 product release enables enterprise companies to streamline and exert more control over their revenue management activities to deliver material top-line growth.
Pharma companies can leverage the Spring ‘16 release to better address the Average Manufacturer Price (AMP) Final Rule published January 21st, 2016. Under current Medicaid requirements, participating drug manufacturers must report AMP data for covered outpatient drugs to the Centers for Medicare & Medicaid Services on monthly and quarterly bases. The AMP Final Rule transforms government compliance requirements in the pharmaceutical industry and is expected to have significant implications for manufacturers and their operations. Model N’s Government Compliance solution enables manufacturers to comply with the AMP Final Rule for drug classification, not generally dispensed ratio calculation, quarterly AMP formula changes, filing changes, and line extension changes.
The Spring ’16 release also includes many other enhancements to improve security, performance, integration, and revenue optimization. The following items are only a few of these improvements: Best Price Initial Projection calculation projects managed care rebates more accurately and the enhanced price protection capabilities enable sophisticated PBM contracting and predictable rebate calculations for faster reconciliation. Workflow, reporting, platform encryption, and performance improvements enable users to perform many tasks such as managing regulatory workbooks and chargebacks more quickly and securely.
The Life Sciences Revenue Enterprise Cloud solutions are more tightly integrated with both Revvy CLM and Revvy CPQ (Configure Price Quote). Also, Revvy GPM (Global Price Management) boasts new IRP simulations to simplify the creation of complex pricing calculations. Revvy GPM channel dashboards and integrated decision workflow and analysis enable users to see the impact of price change requests within an approval form, shortening the process and enabling better decisions, ultimately helping to boost revenue and improve margin.
“In addition to offering many new capabilities and enhancements, the Spring ‘16 release for life sciences focuses on our customers’ key issues including compliance, performance, security, and analysis,” remarked Marc Baumgartner, General Manager Life Sciences, Model N. “Model N has long standing partnerships with life sciences manufacturers and this release is a shining example of our expertise in this vertical.”
The Spring ‘16 Release for High Tech delivers important new capabilities and process changes, enabling powerful operational efficiencies, better pricing and less revenue leakage.
Quote Matrix / Step Pricing. The Spring ‘16 platform supports the use of a price matrix directly in quotes and orders, enabling customers to offer multiple prices-per-volume across multiple time periods. This capability helps companies increase revenue and margin by avoiding upfront discounts against volume commitments that ultimately are not met. Pricing updates can be automatically reflected in an ERP system, reducing manual work and errors.
Deal Intelligence. All users who make decisions on price concessions now have direct visibility to similar deals (using various attributes including region, product family, and end market) as well as the prices at which the vendor is winning or losing opportunities. By viewing the price regression curve, users can optimize price-concessions decisions in order to win deals while maximizing margin.
Kitting and Bundling. Instead of having to “add” individual parts and components to create a kit or bundle, users can efficiently leverage pre-built kits and bundles to quickly optimize a solution offering. All pricing rules, quoting functionality and contracts support this capability.
Workflow. The enhanced workflow engine eliminates the need for alerts, streamlining the review process while reducing system performance stresses and allowing quotes to proceed through parallel approval flows. This further expedites the approval process and shortens deal cycles.
Quote, Debit and Contract Expiration Dates. Period-based price compliance is improved by the automatic linking of contract expiration dates to quote and debit expiration dates. Customers can achieve greater pricing control and compliance based on price periods while reducing manual effort.
Price Setting. Enhanced price book management allows mass updates by both product family and formulaic pricing, making customers more responsive with their pricing strategies while reducing the effort to update complex price books with external data residing in an Excel spreadsheet.
Integration with Revvy Rebates. Revvy Rebates allows companies to create programs that reduce upfront discounting and mask OEM pricing from contract manufacturers, driving alignment between price concessions and volume consumed. Revvy Rebates is fully integrated with quoting and pricing, allowing users to improve top-line revenue and margin performance by understanding the impact of discounts and rebates.
“The Spring ‘16 evolutions demonstrate Model N’s deep understanding of the complex revenue management needs of high tech and semiconductor companies,” said Chanan Greenberg, Vice President and General Manager High Tech, Model N. “I’m proud of the expansion of our high tech solutions, the depth of product integration, and the important benefits and efficiencies delivered by the latest release.”
REVVY REVENUE MANAGEMENT
Revvy Revenue Management solutions enable the most complex businesses to maximize revenue opportunities while shortening sales cycles. The Revvy configure-price-quote (CPQ), contract management, rebate management, and global price management solutions support Salesforce and are enterprise-grade. The Spring ‘16 release includes innovations that enhance these solutions, interoperability with other systems and performance.
There are many updates to Revvy CPQ. By customizing Revvy CPQ quote lifecycle stages, user actions can be guided and controlled through the entire quoting process, improving quoting accuracy. Sales professionals can save time by dynamically representing multiple instances of products and options within a solution or a product during configuration. Revvy CPQ now offers quote line configuration dependencies to simplify the process for building solutions by allowing the selections made for a product to be shared across other products within a solution. And, sales representative productivity and responsiveness is increased by being able to complete the entire quoting process on an iPad®.
Revvy CPQ for SAP® ERP, the industry’s first Salesforce-native CPQ solution that interoperates with the SAP ERP application, delivers material performance and usability improvements. The largest and most multifaceted KMAT configurable material types in SAP ERP can be configured, priced and quoted directly in Salesforce while complying with business logic defined in SAP ERP.
Revvy Contract Lifecycle Management now supports importing and exporting contract lifecycles and integration with Adobe® eSign services for digital signature capture. And, administrators can save time and commit fewer errors by using new data scrubbing and validation tools to load transactions into Revvy Rebates via CSV files.
Remarked Eric Carrasquilla, Senior Vice President of Product Management, Model N: “With the new Revvy Revenue Management additions, the Spring ‘16 release enables companies to perform their revenue management-related activities more efficiently, quickly, and accurately, empowering them to augment revenues and improve margins. This release advances our vision of unifying CRM with Revenue Management to enable material top-line growth.”
ABOUT MODEL N
Model N is a leader in Revenue Management solutions. Driving mission critical business processes such as configure, price and quote (CPQ), contract and rebate management, business intelligence, and regulatory compliance, Model N solutions transform the revenue lifecycle from a series of disjointed operations into a strategic end-to-end process. With deep industry expertise, Model N supports the complex business needs of the world’s leading brands in life sciences, technology and manufacturing across more than 100 countries, including Johnson & Johnson, AstraZeneca, Novartis, Atmel and Fairchild. For more information, visit modeln.com. 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.
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