Chanan Greenberg, SVP & GM High TechA recent survey conducted by McKinsey reveals that digital disruption has already reduced the average tenure for companies on the S&P 500 list from 33 to 12 years, and only 8 percent of the companies believe their business models will remain viable through digitization. Today, technology, which is advancing at warp speed, is forcing companies to either adapt to the changes by taking a long-term holistic approach to improve products and processes for sustained growth or perish. This is where digital reinvention—aimed at transforming an organization to revitalize the core of its business and capture new opportunities— plays a key role. In the light of this, Model N [NYSE:MODN], a San Mateo-based revenue management company has created an end-to-end integrated platform to enable digital reinvention for companies in the pharmaceutical, medical device, high tech, manufacturing and semiconductor industries. “Most companies out there collaborate with numerous vendors for different enterprise applications—one provider for quality management, another for pricing and quoting, and yet another vendor for enterprise resource planning, and so on,” says Chanan Greenberg, SVP and GM High Tech at Model N. Seeing the struggle that companies experience in addition to the vast silos of information and disconnected applications, tools, and processes, Model N decided to connect and automate all of the revenue-impacting processes through an end-to-end solution, bringing to life its Revenue Cloud platform. One of the factors that truly differentiates Model N is its vertical go-to-market strategy. The company’s Revenue Cloud platform is solely designed for three market verticals—life sciences, high tech, and manufacturing companies.
Model N’s Revenue Cloud for manufacturing serves a wide range of mission-critical business processes that include configure, price and quote, contract lifecycle and rebate management, channel data management, business intelligence, and regulatory compliance. A sales tool for the digital era, Revenue Cloud guides sales teams to deliver error-free and optimized product and solutions quotes that win more businesses and help in the growth of channel sales and maximizes sales margins.
The platform’s competence to scale at the enterprise level and the company’s industry focus allows Model N to deliver top-notch business value
It also provides data-driven product and pricing recommendations and enhances partner experience. This ability to provide an integrated end-to-end platform that takes care of everything from negotiating the price to handling rebate is unique to Model N. Additionally, the platform’s competence to scale at the enterprise level and the company’s industry focus allows Model N to deliver top-notch business value. “We are dedicated to providing out-of-the-box solutions that meet all our customers’ needs and requirements,” remarks Greenberg. Model N establishes a strong relationship with each of its customers and maintains a customer advisory forum that consists of about 15-16 different companies per vertical. Model N meets with each of these companies every six months to review the clients’ business needs, emerging trends in the market, and decide on how to align the clients’ product roadmap with the latest needs.
Model N’s clientele includes some of the world’s leading brands in life sciences, technology, and manufacturing, like Johnson & Johnson, AstraZeneca, Novartis, Microchip Technology, and ON Semiconductor. Founded in 1999, Model N has 19 years of deep domain knowledge and industry experience. The company’s caliber of putting its customers and partners first, and uncompromising integrity and passion for excellence is what makes Model N a pioneer in the industry. After carving a niche for itself in the revenue management space, Model N looks forward to adding new innovative capabilities to its Revenue Cloud platform that align with emerging market trends as well as its customers’ requirements.