Model N, Inc. recently sparked a discussion about primary pricing challenges and solutions among more than 30 top leaders and influencers in European Life Sciences at the EPP Life Sciences Executive Briefing. Key factors were defined for cutting-edge pricing strategies in the European Life Sciences Market in 2015. As an outcome of the exchange of views, five superior trends could be determined:
- Life Science companies need for cost effective, country specific solutions that can bring quick time to value.
- Data transparency across finance and sales functions has been the limiting factor to enabling the use of price analysis (past and future) effectively in commercial negotiations.
- There is still a gap in capturing competitive data within the tendering process as well as the inability to effectively use analytics to make strategic tendering decisions.
- There is a continued need for optimizing incentives and the mechanism to evaluate the effectiveness of these incentives.
- To support European life science pricing organizations which are some of the most advanced pricing experts in the world, solutions need to be flexible to support very specific company based systems but also integrate seamlessly into both CRM and ERP environments to complement those investments.
For more information on Model N, the leading Revenue Management Cloud solutions provider to the life science and technology industries, come and visit our experts on stand nb. 6 at Pharma Pricing and Market Access 2015, or visit us at www.Modeln.com.