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Industry Solutions
From reshaping the quote to cash process, to transforming engagement with channels partners, to achieving excellence in global product launch, Model N enables digital reinvention with industry-specific solutions that maximize revenue.
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Solution Brief
With 80% of medtech and 40% of pharma revenue derived from tenders, the tendering and bidding process is critical to doing business internationally
- The lack of proactive tender management could result in being locked out of a market for 12 to 35 months.
- Governments and payers increasingly use tenders to lower costs, sometimes to more than 50% below list price.
- Manual processes and disconnected spreadsheet-based tools result in inaccurate projections and hamper efforts to craft competitive tender offers.
The benefits of Model N’s Global Tender Management solution
Global Tender Management helps maximize revenues by optimizing bids and streamlining processes, aligning local and global resources, and taking a data-based approach to tendering.
Increased sales
Quickly identify and determine if you qualify for public tenders, so you can prioritize efforts toward the most critical opportunities.
Reduced risk
Improve collaboration among global teams and centralize documentation gathering to decrease the likelihood of noncompliance, disqualification, or penalties.
Better visibility
Optimize 100% of global opportunities and the ability to proactively create winning strategies.
Improved margins
Leverage insights into past performance and competitive information-based simulations to improve future submissions.
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An end-to-end cloud-based solution for managing tenders
Model N Global Tender Management addresses all key stages in the tender-to-contract process.
NEW FEATURE
Tender Hub
A single repository to access tender publication sources from most countries in the world.
Tender marketplaces search
The new tender marketplaces search module allows tender managers to search various public marketplaces for new publications and convert them into tender opportunities.
Global reach
Enables teams to configure the platform to match their local processes, while retaining global visibility into all tendering aspects.
Templates and tasks
Streamline preparation and approval processes by providing clear workflows, assigning tasks, centralizing information, and tracking progress.
Smart approvals
Reduce unnecessary re-approval steps when new tenders reuse data from existing ones by putting only new data into the approval process.
Simulated scoring and weighted pricing
Arrive at the most profitable offer by shaping bids using criteria based on the most economically advantageous tender (MEAT) and competitive data.
Tracking and analysis
Track tenders as they progress to contract. Capture and analyze information to improve future submissions or properly fulfill the awarded tender.
Model N's unique approach to optimize and protect revenue throughout the commercialization process
Model N Global Tender Management is a core component of Model N’s Global Pricing suite for pharma and medtech manufacturers.
- Integrate global pricing workflow into revenue management.
- Increase process efficiency from contract to execution.
- Adhere to complex pricing regulations.
Related resources
The Keys to Successfully Rolling out an Automated Tender Management Process for Life Sciences Organizations on a Global Scale
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Global Tender Management Solution Brief
Maximizes revenue by optimizing bids and streamlining their governance, while providing competitive and account insights. VIEW Solution Brief
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