Leader in Life Sciences and High Tech Revenue Optimization and Compliance Wraps a Successful Thought Leadership Event, Introduces Industry Trends, and New Solutions
Model N, Inc., a leader in revenue optimization and compliance, concluded Rainmaker22 last week, its 18th annual thought leadership and educational conference. As the premier industry event for revenue optimization and compliance professionals, Model N’s conference brought together more than 700 executives, key decision makers, and industry experts from around the world.
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“It is no longer enough to just sell software products – customers are looking for expertise that complements the technology and integrates a personal approach. And Model N continues to deliver a combination of industry expertise and cutting-edge technology that work together to create a world-class solution.”
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Rainmaker22 at a Glance
The latest research data from Model N’s fourth annual State of Revenue Report was previewed at Rainmaker22, providing the audience with the industry’s most current data on the state of revenue optimization and compliance. In addition, the company debuted its Model N 3.0 solution portfolio strategy, as the next evolution in meeting evolving customer and industry needs. Finally, the company launched Model N Ngage, a new application that provides customers with tailored in-app guidance to improve the customer experience and drive continued process improvements.
In addition to keynote presentations from Jason Blessing, Model N CEO, and Suresh Kannan, Model N Chief Product Officer, Alex Azar, the 24th Secretary U.S. Department of Health and Human Services, served as the Rainmaker22 guest keynote speaker in the Life Sciences general session.
Model N Leads the Way with Industry Data
The 2022 State of Revenue Report unveiled the largest and most extensive study of revenue optimization and compliance trends for life sciences and high tech. Incorporating feedback from over 300 professionals with executive-level responsibility for revenue management functions, the survey revealed this year’s top revenue management concerns and challenges, exploring business-critical revenue issues and how companies are recovering from the pandemic.
Among the notable statistics found in the report, 73% of respondents indicated that they prefer a partner that can provide both software and expert services to help bridge the need for domain expertise, and 80% of executives said they have ongoing difficulties with data accuracy and gleaning actionable insights.
These and other key survey findings assist Model N in refining its 3.0 vision and its ongoing product innovation strategy. According to Blessing, the company’s original research shows the path forward: “It is no longer enough to just sell software products – customers are looking for expertise that complements the technology and integrates a personal approach. And Model N continues to deliver a combination of industry expertise and cutting-edge technology that work together to create a world-class solution.”
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Model N Introduces New Products and Solutions
Model N also used Rainmaker22 to launch Model N Ngage, a new feature that provides in-app guidance infused into the Model N Revenue Cloud. Model N Ngage helps organizations drive process improvements for scalable software adoption that enable operational excellence. With actionable guidance from Model N Ngage, Model N customers can tailor the user experience around their own unique business needs – based on inputs such as tasks, usage, behavior, and poll responses. Thanks to Model N Ngage’s sophisticated analytics, customers will enjoy an improved user experience and more personalized ways of using Model N technology.
Rainmaker22 also dove deeper into Model N’s recent launch of a new State Price Transparency Management (SPTM) solution for Revenue Cloud. SPTM is the first-ever solution enabling pharma and biotech firms to operationalize end-to-end processes for meeting U.S state price transparency mandates. The SPTM solution also manages compliance by leveraging automation, while simultaneously facilitating complete traceability and standardization.
Rainmaker22 featured several industry thought-leading conversations about drug pricing and the current regulatory landscape. Sourcing from outside experts such as Brian Bohnenkamp and John Shakow from King & Spalding; John M. O’Brien from the National Pharmaceutical Council; and Odalys Caprisecca from Novartis, these individuals discussed the evolving nature of state and federal regulations, and the increasing challenges that pharmaceutical and biotech companies face when it comes to drug pricing and transparency requirements.
Secretary Azar, who served as a special guest keynote speaker, also discussed the current and future state of drug pricing in a vibrant one-on-one interview with National Pharmaceutical Council’s, John O’Brien. Secretary Azar also provided a well-rounded perspective of the pharmaceutical landscape and discussed ways in which he helped build a patient-centric health system in the United States.
Featured High-Tech Expertise
Rainmaker22 also featured conversations from Channelnomics leader, Larry Walsh and Future Horizons’ Malcolm Penn, who shed light on effective channel program strategies as well as an outlook for the semiconductor industry. The event also featured prominent customer speakers such as Ruchita Deshpande from Sonos; Pam Cheng from Micro Commercial Components; and John Stage from AMD. Each provided their company’s perspective about improving their revenue journey.