Revenue Optimization Leader Introduces Payments Functionality, Enhances Pricing Capabilities, and Delivers More International Operations Support
Model N, Inc. , a leader in revenue optimization and compliance, 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.
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“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”
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.
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