The global coronavirus pandemic is creating economic pressure across multiple sectors, including high tech and semiconductor, to find new ways to maintain revenue growth and channel performance. Under this extraordinary circumstance, some 37% of companies have reported canceled orders and cash flow issues, and 18% of firms have reported supply chain disruptions, in a recent study surveying channel chiefs, “Evolving Impact of COVID-19 on Vendor Channel Programs,” conducted by business strategy and research firm The 2112 Group.
“Forward-thinking companies are reallocating budget expenditures and evaluating strategic technology investments. This tactical planning is aimed at weathering the current economic downturn and accelerating the post-pandemic recovery for success beyond the curve,” said Larry Walsh, CEO and chief analyst of The 2112 Group. “Many firms are driving improved financial results with automation and digital channel platforms for more active and efficient revenue management. These investments include solutions like Model N that automate and monitor quoting, pricing and payment transactions that increase topline revenue at a time when it really matters.”
Upgrades to Model N’s cloud-based revenue platform are designed to help address revenue management issues for tech companies – as 89% of executives say they’re losing billions of dollars through revenue leakage, and 82% say that revenue management has become increasingly difficult. The Model N Spring 2020 release delivers new intelligence and automation capabilities that provide real-time decision insights for business users. With new capabilities leveraging AI, Model N optimizes price recommendations, allowing approvers to improve win rates. Additionally, sales teams can now easily predict expected quote volume compliance based on contract and quote terms.
Model N’s updated automation capabilities now better link manufacturers and their channels, supporting companies in their ongoing quest to learn more about channel sales revenue. Created to help Model N customers realize topline revenue growth, these new capabilities include:
- ·Channel Data Management (CDM) – new communication options enabling exchange of data that streamline and reduce workload, increasing partner compliance
- ·Market Development Funds (MDF) Management – new support for managing complex workflows across an organization, integrating intelligent approvals with MDF budgets
- ·Rebate Management – empowers manufacturers to better model and manage the increasingly complex incentives required to influence partner buying patterns
These new innovations are integral to revenue strategies being adopted by some of today’s most influential high-tech manufacturers and semiconductor companies. “During the past 18-24 months, large tech companies have embarked on a new quest in revenue management, focused on introducing AI and ML functions that impact net price and net revenue as a single continuum,” said Suresh Kannan, Model N Chief Product Officer. “The desire to equip our industry-leading customers with the latest tools that support their revenue success strategies is precisely why Model N has delivered this release.”