Model N, which provides revenue management systems, launched an overhaul to its platform that adds configure, price and quote tools, omni-channel capabilities and versions for verticals such as manufacturing and semiconductors.
The company, which had fiscal 2017 revenue of $131.2 million, falls into the industry cloud category as it designs its "digital reinvention" platform for life sciences, high tech and manufacturing companies. With its configure, price quote tools, Model N aims to bridge the gap between Salesforce and SAP to better configure products and services customized to the customer. About 85 percent of Model N's customer base runs on SAP.
Zack Rinat, CEO of Model N, said digitization is driving "winner take all economics," but many companies aren't focused on the demand side of the revenue equation. The Model N platform updates are designed to deliver the "right product, solution and price" in a scalable manner.
The new additions to the Model N platform include:
- Model N CPQ, which enables customers to tailor offerings, add subscription models, self-service and processes for approvals, analytics and guided selling. CPQ interoperates with SAP and SAP Variant Configurator.
- Channel Cloud to provide enterprises with tools that align business models and provide visibility into multiple sales channels. Rebate management, data tools, and market development funds management are in the mix.
- A version of Model N's revenue cloud for the semiconductor and manufacturing industries. Model N already has its revenue cloud tailored to pharmaceutical, medical technology and high tech companies.
The product launch comes a few days after Model N reported better-than-expected first quarter earnings and saw shares hit a 4.5 year high. Model N is converting to a software as a service business model.
Model N reported a first quarter net loss of $5.3 million, or 18 cents a share, on revenue of $39.1 million. The company also outlined its guidance for fiscal 2018.
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