Model N Inc., a provider of contract life cycle management solutions, Tuesday announced a new customer win for its contract life cycle management solution.
Model N, of South San Francisco, Calif., announced that Guidant Corp., an Indianapolis-based provider of cardiovascular medical products, has selected Model N for Guidants strategic pricing initiative. The company said Guidants U.S. sales organization will use the Model N application suite to decrease contract cycle time and strengthen pricing accuracy.
Jamie Schein, chief marketing officer at Model N, said Guidant is the most recent medical device manufacturer to select Model N to manage its entire contract life cycle. Guidant will use the Model N pricing, contract, compliance and rebate applications to analyze pricing proposals, create and manage contracts, track and monitor contract compliance, and process rebates and administration fees, she said.
Schein said Model N beat out SAP AG, Siebel Systems Inc. and I-many Inc. to win the Guidant business.
“Model N gives Guidant a solution that will optimize our processes, yield increased top-line revenue, and enhance our contract profitability,” said Dennis Antinori, senior vice president of corporate accounts and sales operations for Guidant, in a statement.
Model Ns solution addresses the specific requirements of medical device manufacturers in the creation, management, compliance to and analysis of contracts and price plans, Schein said. In addition, Model N leverages enterprise application development standards, including Java 2 Enterprise Edition, XML, Simple Object Access Protocol and Web services, to deliver an application suite that provides rapid deployment and extension capabilities, and can evolve over time to meet a customers changing business needs, she said.
“Guidant recognizes that pricing and contract execution are made up of a set of strategic business processes involving multiple departments and systems,” said Zack Rinat, chairman and CEO of Model N, in a statement. “With the Model N solution, Guidant can automate these processes–from price plan and contract creation to compliance and rebate management–giving everyone involved the visibility and control they require to increase revenue and profitability.”