Model N introduces new revenue management and channel performance solutions with enhanced AI/ML reach for deal and channel intelligence
SAN MATEO, Calif.--(BUSINESS WIRE)--Model N, Inc. (NYSE: MODN), the leader in cloud revenue management solutions, today announced new revenue management and channel performance capabilities as part of its Fall 2020 high tech product release, including expanded artificial intelligence (AI) and machine learning (ML) capabilities for deal optimization and channel intelligence.
In recent years, many of the largest high tech companies have initiated new strategies focused on managing all functions impacting net revenue, price and channel performance as a single revenue continuum. The latest release of Revenue Cloud for High Tech aligns Model N’s product strategy closely with its customers’ revenue success, helping address the ongoing need for companies to maintain revenue growth.
Model N Revenue Cloud for High Tech is the industry’s premier solution for end-to-end revenue management, stopping revenue leakage by bridging the gap between front-office and back-office processes and serving as the commercial system of record for revenue execution and channel automation. New features in the Fall 2020 product release provide additional AI- and ML-driven intelligence, key factors in growing topline revenue and maximizing margins, as well as automation for pricing, deal management and channel automation functions.
Specific features and functionality in Model N’s Fall 2020 release include:
- Price Optimization and Management – Next-generation price optimization and management features for creating high-value deals and cross-tier pricing ranges.
- Channel Network – Enabling channel partners to correct data submissions via a self-service portal, for more efficient data submission and faster access to more accurate channel sales data.
- Rebate Management – For rapid creation and execution of new incentive and rebate programs, including a wide variety of prebuilt targeted templates, ability to handle thousands of goals/and benefits across a large set of products, and program performance analysis via real-time intelligence.
- Artificial Intelligence and Machine Learning – With AI and ML capabilities to enable new, intelligent, in-context, business insights, including optimized pricing and product recommendations.
“Our Fall 2020 product release is truly in sync with what is happening in high tech, supporting the industry by delivering next-generation features and functionality,” commented Suresh Kannan, Chief Product Officer at Model N. “Model N is one of the first revenue management providers to introduce and extend price optimization and AI/ML solutions for the complete revenue lifecycle.”
The need for price optimization and management solutions that capture lost revenue has never been greater, and high tech companies must modernize and optimize global pricing management to succeed in an era of increased competition and shrinking margins. By enabling high tech companies to automate their channel partner networks and more effectively manage incentive, promotion and rebate programs, Model N continues to assist its customers in making partners more self-sufficient, opening new avenues for revenue growth.
Forrester Principal Analyst Jay McBain commented on this market dynamic in a Forrester blog post, Channel Data Is A Competitive Differentiator, (January 2019). “Brands that provide an enhanced partner experience grow faster than their peers, are more profitable, and drive higher customer satisfaction and retention downstream.”
About Model N
Model N enables life sciences and high tech companies to drive growth and market share, minimizing revenue leakage throughout the revenue lifecycle. With deep industry expertise and solutions purpose-built for these industries, Model N delivers comprehensive visibility, insight and control over the complexities of commercial operations and compliance. Its 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.