New solution accelerates business agility and profitability by automating pricing processes
SAN MATEO, Calif. – January 30, 2024 – 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 N
Model 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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