Unique Capabilities for High Tech Such as Design Registration, Interactive Quoting, and Debit Processing Deliver Higher Deal Conversion, Improved Transaction Profitability, and Eliminates Over Payment of Channels Reimbursements
SOUTH SAN FRANCISCO, Calif., May 2 / -- Model N, Inc., the leader in Revenue Management solutions, announced today that their Azerity Product Group released a new version of Price Management specifically to address the pricing, quoting and channels price management needs of the high tech industry. Recently acquired by Model N, the Azerity Product Group is the leading supplier of pricing solutions for the high tech semiconductor market, with over 30,000 users worldwide relying on the Azerity Price Management Suite to drive the pricing process for both direct and channels sales. The release incorporates significant new capabilities tailored for the high tech industry that deliver improved deal conversion, more profitable transactions and eliminates overpayment of channels incentives. This release is indicative of the increased investment being made toward the needs of the high tech market as a result of the acquisition of Azerity by Model N.
"Pricing processes are extremely specific to each industry and cannot be effectively addressed by generic technology solutions," said Zack Rinat, Founder and CEO of Model N. "This new release of the Price Management Suite is focused on the specific pricing, quoting and channels price management needs of the high tech industry, and as a result, delivers much higher benefits to our customers without the significant process gaps, or customizations that companies face when they try to implement generic pricing or sales applications."
Price Management For High Tech
The Price Management Suite includes applications to manage the processes of pricing and price list management, price quoting and ordering for both direct sales and channel sales, and channels price management related to price protection and inventory tracking. Unique features for high tech companies such as design registration, web-based interactive quoting for channels partners, and debit processing are just a few of the specific capabilities that enable the suite to deliver better deal conversion, more profitable transactions and reduced revenue leakage. Pre-release users of the new Price Management Suite were particularly pleased by the new configuration tools that allow for personalized pages, new step pricing functionality that allows pricing steps to be identified throughout the product life cycle, an upgraded pricing engine to support multiple price-books in multiple currencies, and extension of the opportunity tracking capabilities to include lead to opportunity linking in order to improve deal conversion rates.
Now Part of Model N
Model N completed the acquisition of Azerity in the first quarter of calendar 2006 and has created a separate Azerity Product Group with development, professional services, customer support and sales resources dedicated to the needs of the high tech industry. Model N's Revenue Management vision is emerging as a strategic business application category that not only encompasses pricing, but also, contract development and management, channels reimbursements and regulatory compliance. With the acquisition of Azerity, Model N enhances its leadership position in this new category through the addition of Azerity's proven price management expertise, and will, through the Azerity Product Group, extend its suite of Revenue Management applications into the High Tech market.
"The challenges of ensuring a successful acquisition are great, but the release of Azerity 7.4 Price Management Suite on schedule not only demonstrates the focus of our team on meeting the specific needs of our high tech customers, but also illustrates the success of the integration of the two companies," said Stephen Gold, vice president High Tech Strategy of Model N. The customers of the Azerity High Tech Product Group have expressed their confidence surrounding the acquisition as well, and what they foresee as benefits to their business through the increasing investment and solutions breadth.
"I am confident that the acquisition of Azerity will be a terrific combination of resources and talent, leading to technology advancements that will continue to support Microchip's business initiatives. I have been a long time supporter of Azerity and anticipate the same exemplary support and services from Model N going forward," commented Doug Gilbeau, Director, Sales and Internet Applications, Microchip Technology, Inc.
Also voicing his support of the acquisition is Todd Reimund, Director of Corporate Marketing, Linear Technology Corporation, "The Azerity and Model N merger should provide the Azerity product team with expert resource to expand the capabilities of the price management solution for the high tech industry. We were pleased to see that even throughout the acquisition, the production team has remained focused and devoted to the release of version 7.4, a major product release."
Microchip To Discuss Price Management Best Practices
Microchip will also be featured in an upcoming webinar on May 24, 2006. Doug Gilbeau, Director, Sales and Internet Applications will discuss the company's experience with the Azerity Price Management Suite from Model N, and address key challenges and best practices the company has experienced during their very rapid and successful growth to a multi-billion dollar business. Registration is available at http://azerity.modeln.com/.
About The Azerity High Tech Product Suite from Model N
The Azerity product suite from Model N is the leading price management solution for high tech companies, offering global price management, deal management and channels price management applications to enable better pricing and quoting practices for direct and channels sales. The product suite helps companies maximize deal conversion and profitability and eliminate revenue leakage by controlling price erosion, improving quote-to-order conversions, and eliminating the overpayment of channel reimbursements while ensuring compliance to contracts and regulatory requirements such as Sarbanes-Oxley. This integrated suite of web based solutions complements existing software infrastructure and extends the value of current ERP / CRM investments, and is endorsed by leading high tech companies including: Agere Systems, Cypress Semiconductor; Intersil Corporation; Linear Technology Corporation; Micrel Semiconductor Inc.; Microchip Technology, Inc.; Micron Technology Inc.; ON Semiconductor, Inc.
About Model N
The Azerity Product Group is part of Model N, the leader in Revenue Management solutions. Model N offers integrated application suites for pricing, contracts, compliance, chargeback, rebates, and fees. By enabling the creation of a seamless, end-to-end process from pricing through settlements payment, Model N's uniquely integrated approach eliminates revenue leakage and reduces compliance risk. In addition to customers in high tech, Model N customers include leaders in Life Science such as Actelion Biopharmaceuticals; Boston Scientific Corporation; Bristol-Myers Squibb; GE Healthcare; Gilead Sciences; Medtronic, Inc.; Novo Nordisk Inc.; Ortho-Clinical Diagnostics, a Johnson & Johnson company; and Pfizer, Inc. Model N is located in South San Francisco, California. For additional information, visit www.modeln.com.
NOTE: Model N is a mark of Model N, Inc. All other company names mentioned are the property of their respective owners and are mentioned for identification purposes only.