Model N Launches Innovative Price Management Solution for High-Tech Manufacturers
Model N (NYSE:MODN), a leader in revenue optimization and compliance, has introduced a groundbreaking Price Management solution designed to enhance business agility and profitability for semiconductor, electronic component and high-tech manufacturers. This new offering allows businesses to manage price execution effectively across their direct and channel sales teams on a global scale. Integrated with Model N Deal Management, the Price Management system simplifies the process of updating pricing, ensuring consistency and reducing the manual effort required to maintain current prices.
The high-tech market’s rapid pace necessitates that manufacturers have the ability to swiftly update pricing across various regions and sales channels. Traditional methods, often manual and spreadsheet-based, are becoming obsolete as they do not offer the integrated approach, automated workflows, version control and real-time pricing updates necessary for efficient deal desk approvals. Pricing expert Mark Stiving recognizes the importance of flexible price management in today’s fast-changing markets, emphasizing the need for efficient tools to coordinate pricing changes across multiple products and channels.
Model N’s Price Management solution addresses this need by providing an end-to-end pricing system capable of publishing numerous price changes annually in an integrated manner. This ensures tighter execution and control, meeting all audit and regulatory requirements. The robust pricing engine within the solution offers real-time data, aligning with market conditions to minimize revenue loss and expedite the price setting process. As a result, customers can shift their focus from manual tasks to strategic initiatives, benefiting from the automated workflows that improve efficiency and accuracy.
CPO Suresh Kannan acknowledges the challenges high-tech manufacturers face in executing and updating complex pricing models across different markets. The introduction of Model N’s Price Management solution is a strategic move to fill a gap in the market, providing customers with enhanced pricing control, speed and flexibility, which are essential for optimizing revenue and profitability. This solution further establishes Model N as a frontrunner in revenue cloud applications for the high-tech sector.
Model N is at the forefront of revenue optimization and compliance for the pharmaceutical, medtech and high-tech industries. The corporation’s intelligent platform facilitates digital transformation by integrating technology, data, analytics and expert services, offering deep insight and control. The enterprise’s cloud solution automates pricing, incentive and contract decisions, enabling businesses to scale profitably and increase revenue. With a presence in over 120 countries, Model N is trusted by leading companies such as Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom and Microchip Technology.
Model N’s latest Price Management solution represents a significant advancement for high-tech manufacturers, providing them with the tools necessary to manage complex pricing strategies effectively. By automating and integrating pricing processes, the organization is enabling its customers to respond more quickly to market changes, maintain pricing consistency and focus on strategic growth. This innovation is a testament to its commitment to delivering solutions that meet the evolving needs of the high-tech manufacturing industry.
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