Life sciences manufacturers encounter a multitude of challenges as they strive to manage complex revenue management processes – from managing multiple stakeholders to navigating complex regulatory frameworks. Attempting to overcome these challenges solely with an in-house team can be difficult and costly. That’s why many manufacturers choose to outsource certain strategic – if not all – business functions, along with the objectives of avoiding penalties, eliminating revenue leakage, achieving better process efficiency, gaining visibility on transaction data, and exploring new commercial deals.
Not all business services partners are created equal, however. To ensure a successful revenue management outsourcing journey, there are certain essential elements to look for when considering potential providers. A downloadable report published by Everest Group recommends asking the following questions:
- Type of provider: Does the provider offer support across both business process outsourcing (BPO) and software-as-a-service (SaaS) in their services portfolio, based on the evolving needs of the enterprise?
- Breadth of revenue management services portfolio: Can the provider deliver end-to-end revenue management capabilities, if required?
- Infrastructure: What are the considerations for maintenance after deployment, specifically in terms of SaaS-based consumption model?
- Scalability and flexibility: Can the partner provide skilled talent and scale it up/down as needed?
- Delivery footprint: Does the provider have global delivery locations and a presence, enabling them to offer both regional and global expertise?
- Case studies: Has the provider demonstrated a proven track record in addressing the needs of all types of enterprises, including small and mid-sized enterprises?
The bottom line: It’s paramount to choose a partner that can provide exceptional service and unwavering commitment to support you through each stage of your growth.
And that’s where Model N Business Services can help
Model N Business Services is the BPO solution that was built specifically to help life sciences companies in all stages of commercialization stay ahead of ever-changing regulations and optimize revenue from commercial contracts. When you choose to outsource your commercialization and government compliance processes to Model N Business Services, you’re hiring a complete team of industry experts who are backed by Model N’s proven, state-of-the-art technology. This combination of people, process, analytics, and technology helps you mitigate risk, meet changing business needs, and achieve commercial excellence. It doesn’t matter if you have one product or thousands, Model N Business Services provides the level of support you need today and scales with you as your business grows.
Learn more about how Model N Business Services can help your enterprise increase revenues, compliance, and operational visibility and control.
