Model N Launches Price Management to Help High-Tech Companies Streamline Pricing
31 January 2024 - 1:00AM
Model N (NYSE: MODN), the leader in revenue optimization and
compliance has launched Price Management, a new solution that
enables semiconductor, electronic component, and high-tech
manufacturers to manage price execution across direct and channel
sales teams globally. Fully integrated with Model N Deal
Management, Price Management streamlines pricing updates to reduce
the effort required to keep prices current and consistent –
enabling tight pricing control and seamless market execution.
The speed at which high-tech markets move today creates an
urgent need for manufacturers to update pricing across regions and
sales channels. While most organizations rely on manual
spreadsheet-based or homegrown approaches, these methods lack an
integrated approach, automated workflows, version control, and
real-time pricing updates that impede deal desk approvals.
“Markets are changing faster than ever, which means the need for
flexible price management is crucial,” said Mark Stiving, pricing
expert and founder of Impact Pricing LLC. “It’s never just one
price. There are many price lists for thousands of products in
several channels across regions. Traditional solutions can work
when prices don’t change often, but today’s reality requires
efficient and automated tools to rapidly and effectively coordinate
all changes simultaneously."
With Model N’s Price Management, high-tech companies can
effectively manage all aspects of pricing across the product
lifecycle. In fact, this end-to-end pricing system can easily
publish a myriad of price changes annually in an integrated
fashion, enabling tighter execution and control that ensures all
audit and regulatory requirements are met. Price Management
includes a robust pricing engine that provides real-time data to
align with market realities—reducing revenue erosion and
accelerating price setting. In turn, customers will have more time
to focus on strategy instead of manual tasks since workflows are
automated to enhance efficiency and accuracy.“Model N has directly
seen the challenges high-tech manufacturers experience in executing
and updating complex pricing models across markets,” said Suresh
Kannan, chief product officer at Model N. “Model N’s new Price
Management solution fills a market gap by equipping our customers
with greater pricing control, speed, and flexibility that leads to
revenue optimization and profitability. Integrated with Model N’s
Deal Management, Price Management distinguishes Model N as the
leader in revenue cloud applications for high-tech companies.”
For more information about Model N's Price Management, please
visit www.modeln.com/products/price-management/.
About Model NModel N is the leader in revenue
optimization and compliance for pharmaceutical, medtech and
high-tech innovators. Our intelligent platform powers your digital
transformation with integrated technology, data, analytics, and
expert services that deliver deep insight and control.
Our 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.
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