Model N Continues to Lead in Life Sciences Market
Model N, Inc. (NYSE: MODN), the leader in cloud revenue management solutions, announced today that it continues to achieve significant momentum within Life Sciences.
Model N's ongoing progress this year is illustrated by a number of factors including the addition of new customers and notable customer/product expansion within the mid-market segment. Model N has also achieved numerous customer go-live milestones and transitioned multiple customers to its Software-as-a-Service (SaaS (News - Alert)) cloud offering, while providing continuous remote client support during the coronavirus pandemic.
In addition, Model N's product development organization has delivered significant updates with its Life Sciences Spring 2020 product release, which included several new features and a major update to Model N's Intelligence Cloud, bringing new artificial intelligence and machine learning capabilities to customers and enabling them to ensure that their contracts drive more profitable pricing arrangements.
Demand for Model N solutions is being driven by an upswing in business for many life sciences organizations which are actively working on COVID-19 relief, developing treatments and vaccines, deploying testing equipment, and supplying critical medical devices. Model N anticipates that demand for medicines and therapies that are seen as elective will improve as the healthcare system recovers, characterizing a resilient and sustainable market for software solutions that support the life sciences industry.
"Model N continues to benefit from the strong momentum in the global life sciences market,"commented Jason Blessing, president and chief executive officer at Model N. "Our growth is a reflection of the true value of our revenue management solutions as we assist customers in managing revenue leakage, helping optimize both income and profitability. We're thrilled that Model N is the premier revenue management choice for the life sciences market, and our company's growth, along with the enthusiastic reception that our products continue to receive, is proof of our winning strategy and ability to execute, even in tumultuous times."
Multiple Customer Successes
Model N has completed numerous successful go-live customer implementations, including a major go-live with Novartis. This implementation was a remote, virtual implementation effort and will serve as a blueprint for future projects.
Model N continued to make progress in the area of mid-market accounts, including additional product expansion with Mölnlycke Health Care, a Swedish manufacturer of wound care and surgical products.
Additional customer highlights include:
Continued Evolution of Model N Revenue Cloud for Life Sciences
In its Spring 2020 Life Sciences product release, the company announced several major platform updates and new features, including new software integrations with Oracle, IBM Cognos (News - Alert) and Open JDK; an improved user interface (UI); support for advanced medical claims processing; and extended pricing and rebate management capabilities.
About Model N
Model N is the leading provider of cloud revenue management solutions for life sciences and high tech companies. Driving mission-critical business processes such as pricing, quoting, contracting, regulatory compliance, rebates, and incentives, our software helps companies know and grow their true top line and maximize every revenue moment at speed and scale. With deep industry expertise, Model N supports the complex business needs of the world's leading brands in pharmaceutical, medical technology, semiconductor, and high tech manufacturing across more than 120 countries, including Johnson & Johnson, AstraZeneca, Novartis, Microchip Technology (News - Alert), and ON Semiconductor. For more information, visit www.modeln.com.