Model N: The Leader in Revenue Optimisation and Compliance
For 25 years, Model N has been helping customers bring life-changing products to the world, while eliminating revenue leakage and ensuring industry and commercial compliance.
With a focus on two primary industry verticals, the company continues to serve clients in the life sciences sector, including in pharma and medical technology, as well as those operating in the high-tech space on semiconductors, electronic components and manufacturing.
Given the niche Model N has carved out in the software market, it even created its own sub-category called ‘revenue optimisation and compliance’, as Rehmann Rayani, Chief Strategy and Marketing Officer, explains.
“We essentially empower our customers to optimise revenue execution and ensure regulatory and commercial compliance in what's been a dynamic environment,” says Rayani.
“These things have a significant top- and bottom-line impact for our customers.”
Why choose Model N?
Model N has quickly become the industry standard and leading platform within its two industry verticals.
In the pharma space, for example, the organisation serves 23 of the 25 largest enterprise companies in the world.
Shedding light on this clear market leadership, Rayani believes Model N is able to stand out from the competition thanks to three main factors:
- The greatest breadth and depth of capabilities
- Timely innovations that meet dynamic market needs – especially in compliance
- Unmatched industry expertise from the Model N team
“This enables us to support customers through all phases of growth,” Rayani continues. “From young biotechs bringing first therapies to market, to scaling within the domestic US market which has unique commercial and regulatory requirements, to eventually scaling globally into EMEA and APAC.
“We’re also really proud of our strong track record of delivering customer success and satisfaction.”
Model N and EMD Serono: A prosperous partnership
EMD Serono has been a loyal customer and partner of Model N for more than a decade, leveraging its core application suite of solutions, which ensure compliance across a range of pricing and contracting requirements.
Model N supports an array of complex government and Medicaid pricing calculations, which can result in severe penalties if errors are made.
What’s more, EMD was also an early adopter of Model N’s cloud solutions several years ago.
“Our joint success with EMD is hinged on two things,” adds Rayani.
“First is a deep understanding of their business and alignment with them, especially at the executive level. Secondly, by going to the cloud, we've enabled EMD Serono to simplify their infrastructure and deliver better accuracy and timeliness of payments, which have a direct impact on top- and bottom-line performance.
“We've really proud to have been part of their growth journey and to have supported them with scaling performance, as their business needs evolved substantially.”
Harnessing data and analytics
So, what about the future of revenue management?
Rayani and Model N recognise a huge opportunity to leverage modern advancements in technology – specifically AI, machine learning and data and analytics.
For the business, it boils down to being able to combine and tackle large, disparate data sets to produce unique and actionable insights.
“This all falls under the umbrella of data and analytics,” Rayani concludes.
“But our approach is different because we leverage our industry expertise to address compelling use cases for challenges that exist today, but also things we see around the corner.
“We’re also leveraging our vast array of proprietary data sets, which are unmatched in the industry in our specific domain.”
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