Model N Overview
Model N is a pioneering and leading provider of cloud-based Revenue Management solutions, specifically tailored for the Life Sciences, High Technology, and Medical Technology industries. The platform is designed to help businesses optimize their revenue streams, enhance compliance, and drive growth through advanced technology and data analytics.
Key Features and Functionality
Revenue Management
Model N’s suite of solutions encompasses the entire revenue lifecycle, from pricing and quoting to contract and rebate management. Here are some of the key features:
- Pricing Management: The software allows companies to set, adjust, and monitor prices, ensuring compliance with regulatory requirements. It includes dynamic pricing modules with features like price waterfalls, pricing trend analyses, and pricing alerts for deviations from the norm.
- Quote Generation and Configuration: Model N’s Configure, Price, Quote (CPQ) module automates complex product configurations and pricing calculations, reducing quoting and pricing errors and accelerating sales cycles. It supports the configuration of highly complex products using programmable rules and AI/ML-driven product suggestions.
- Contract Lifecycle Management: The platform streamlines the contract management process from negotiation to execution, including tracking contract terms, managing rebates and incentives, and ensuring accurate billing and revenue recognition.
Deal and Price Management
Model N includes sophisticated tools for managing territories, securing pricing, and handling complex deals with approval workflows. Only authorized personnel can access deal-specific pricing information, ensuring control and consistency across different regions and customer segments.
Channel Management
The platform helps companies optimize their sales channels by providing tools to manage channel partners, track performance, and ensure compliance with channel agreements. This includes real-time data collection and standardization, as well as support for various incentive programs like ship & debit, rebates, and market development funds (MDFs).
Compliance and Regulatory Management
Model N ensures that businesses remain compliant with regulatory mandates, including US state and federal regulations and international reference pricing. The State Price Transparency Management (SPTM) service helps companies stay ahead of changing regulations and prevents compliance reporting errors.
Analytics and Reporting
The software integrates with CRM and ERP systems, providing advanced analytics and reporting capabilities. It delivers key data and insights directly to platforms like Salesforce, enabling more informed decision-making within the organization.
Integration and Scalability
Model N seamlessly integrates with platforms such as Salesforce, SAP, and Word/Excel, allowing companies to use their existing tools while enhancing their quoting capabilities. The platform is built for enterprise scalability, suitable for large, multinational corporations, and supports multi-currency and multi-language operations.
Additional Features
Other notable features include:
- Guided Selling: Helps sales teams navigate complex sales processes.
- Approval Workflows: Streamlines the approval process for quotes and contracts.
- Renewals Management: Automates the renewal process for contracts and agreements.
- Discount Management: Manages discounts and incentives effectively.
- Mobile Accessibility: Provides access to the platform via mobile devices.
- Document Generation and E-Signature Integration: Facilitates the creation and signing of documents electronically.
By leveraging these advanced features and functionalities, Model N empowers businesses to maximize their revenue potential, improve operational efficiency, and maintain compliance with regulatory requirements, ultimately driving bottom-line growth and profitability.