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Model N Spring 2022 Product Release Brings New Channel Efficiencies for High-Tech and Enhanced Automation and Compliance for Life Sciences
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Rhea-AI Summary
Model N, Inc. (NYSE: MODN) has launched its Spring 2022 product release for the Model N Revenue Cloud, introducing a new Payment Management solution aimed at high-tech companies and enhancements for pharmaceutical and medtech sectors. The update focuses on streamlining payment processes, improving compliance automation, and expanding global pricing capabilities. Notable features include integration of point-of-sale files, enhanced rebate calculations, and improved usability for mobile applications. Model N aims to optimize revenue while ensuring compliance across various industries.
Positive
Introduction of a Payment Management solution that enhances payment transparency and reduces overhead.
New functionalities for pharmaceutical and medtech companies that improve automation and compliance.
Expanded features in Global Pricing Management to support international operations and pricing activities.
Negative
None.
Revenue Optimization Leader Introduces Payments Functionality, Enhances Pricing Capabilities, and Delivers More International Operations Support
SAN MATEO, Calif.--(BUSINESS WIRE)--
Model N, Inc. (NYSE: MODN), a leader in revenue optimization and compliance, today announced the Spring 2022 product release of the Model N Revenue Cloud. The latest semi-annual update to the company’s flagship product includes a new payment management solution for high tech companies, as well as improvements to its Global Price Management mobile application for pharmaceutical and medtech companies.
Advancing Payment Management in High Tech
Model N’s new release includes Payment Management, a solution that streamlines payments across the entire channel partner journey—providing complete transparency into the payments and reconciliation process, including comprehensive partner payment audits. New features eliminate manual processes by consolidating and reducing the management of payments, lowering payment fees, and reducing resource overhead.
“Efficient payment of partners has always been a challenge across global channel ecosystems,” commented Channelnomics’ CEO and Chief Analyst Larry Walsh. “By releasing a comprehensive solution in the form of its new Payment Management solution, Model N is addressing the market’s critical need for streamlined processes and greater transparency when it comes to global payments.”
Additionally, in this release, Revenue Cloud streamlines and automates the integration of point of sale (POS) files with Channel Data Management (CDM) making it easier to integrate channel sales data. What’s more, upgrades to Model N’s CDM provide new operational insights and the ability to view partner reported sales in/sales out (SISO) inventory to ensure partner compliance.
Greater Compliance and Automation for Pharma Companies
Model N’s Spring 2022 product release improves automation and usability for U.S. pharmaceutical companies including key functional areas such as formulary compliance and script validation. Model N has also added new functionality that supports additional price protection use cases. Built on the company’s deep understanding of payer contracting terms, Model N’s new release enables complete payer contracting and incentive automation for Revenue Cloud customers.
Raising the Bar for Medtech Sales
For medtech manufacturers, Model N is focused on automation and delivering new, purpose-built functionality for operations teams. Model N’s solutions are designed to improve revenue recognition through enhanced GL-account code visibility, as well as through support for more advanced rebate calculations. And for medtech sales teams, Model N is delivering new data-driven capabilities that allow for sales, contracting, and other key data to be aligned to sales territory hierarchies, offering improved visibility into territory-based sales reporting.
Expanded International Capabilities for Global Pricing
Model N continues to deliver for international customers by expanding the capabilities of its industry-leading Global Pricing Management (GPM) application. GPM has incorporated improvements that address trade risks that arise from parallel trade and offers the ability to execute specific reference pricing activities. Additional value-added enhancements improve usability and automation, integrating significant improvements to the GPM app for mobile devices such as providing targeted functionality that ensures organizations can fulfill orders, automate complex rebate calculations, and deliver meaningful reporting to sales professionals.
“The new functionality in our Spring 2022 product release demonstrates our ongoing commitment to innovation across the life sciences and high-tech verticals, helping our customers optimize revenue while ensuring compliance,” said Suresh Kannan, Chief Product Officer for Model N.
About Model N
Model N is the leader in revenue optimization and compliance for pharmaceutical, medtech and high-tech innovators. Our intelligent platform powers your digital transformation with integrated technology, data, analytics, and expert services that deliver deep insight and control.
Our integrated cloud solution is proven to automate pricing, incentive and contract decisions to scale business profitably and grow revenue. Model N is trusted across more than 120 countries by the world’s leading pharmaceutical, medical technology, semiconductor, and high-tech companies, including Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom, and Microchip Technology. For more information, visit www.modeln.com.
What is included in Model N's Spring 2022 product release?
Model N's Spring 2022 product release includes a new Payment Management solution, enhancements to Global Price Management, and improved automation for pharmaceutical and medtech companies.
How does Model N's new Payment Management solution benefit high-tech companies?
The Payment Management solution streamlines payments, provides transparency, reduces fees, and minimizes manual processes for high-tech companies.
What improvements have been made for pharmaceutical companies in the latest update?
The update enhances automation for formulary compliance and script validation, along with new functionalities supporting price protection use cases.
What enhancements has Model N made to its Global Pricing Management application?
The Global Pricing Management application has expanded capabilities to address trade risks and has improved usability and automation for mobile devices.
How does the new release help medtech sales teams?
The new release provides data-driven capabilities that align sales and contracting data to territory hierarchies, improving visibility and reporting.
