South San Francisco, CA February 12, 2003 Model N, a provider of sell-side contract management applications, is partnering with information technology services firm Computer Sciences Corp. to offer a joint solution intended to streamline contract-related processes and increase revenues.
Under the alliance, Model N and CSC will provide clients with CSC's management consulting and systems integration capabilities and the Model N Revenue Execution Application Suite. The partners will focus, at least initially, on life sciences companies, a key target market for Model N.
"Life science companies leave billions of dollars on the table every year because they do not have the tools to properly execute and manage pricing and contracting requirements of their business," said Zack Rinat, co-founder and CEO of Model N.
The alliance brings together CSC's domain expertise in life sciences, managed service experience and process knowledge with Model N's software application suite, which is designed to help customers shorten sales cycles, lower operational costs, analyze contract profitability and more accurately invoice.
The Model N software suite addresses pricing, contract creation and management, compliance and settlement (promotions, rebates and channel fees). With specific solutions for life sciences, consumer packaged goods and transportation industries, the software suite is intended to improve the quality of information in contracts and to reduce the amount of time spent manually creating and managing complex contracts.
Model N said its solution gives its customers visibility into customer contracts and order histories, including information on which clients are meeting their contractual commitments, which contracts have expired and which contracts are up for renewal.