Model N, Inc. (NYSE: MODN), a pioneer in revenue optimization and compliance, officially opened a new facility for product innovation in Hyderabad. The company also disclosed intentions to hire more software engineers while putting a stronger emphasis on diversity and inclusion. Additionally, it said it would release new solutions that would speed up revenue optimization and compliance for high-tech and life sciences firms.
The 70,000 square foot Model N facility, which has 500 employees, was officially opened by Mr. Jason Blessing, President & CEO of Model N, as well as members of the Model N leadership team. Shri. Jayesh Ranjan, Principal Secretary of I&C & IT, Government of Telangana.
State Price Transparency Management (SPTM) and 340B solutions, which assist pharmaceutical manufacturers in navigating the ever-changing landscape of drug pricing regulation and management, are two examples of new product innovations that have been brought to market thanks in large part to the Model N Centre in Hyderabad.
Model N, which is presently working with 28 of the top 30 global life sciences firms and 14 of the top 20 global semiconductor businesses, helps life sciences and high-tech innovators to streamline operations, scale strategically, and minimise risks.
Model N Expansion in Hyderabad
“We welcome Model N to the fast-growing global IT hub of the world,” said Shri. Jayesh Ranjan. “Their presence reaffirms Hyderabad’s growth, and its ability to attract start-ups, venture capital firms, OEMs, policymakers, think tanks, and global technology companies.”
Continuing to Transform Revenue Optimization and Compliance
Model N has witnessed significant change thus far in 2022, with 70% of its customer base now using its SaaS platform. The company’s future goals include driving profitable growth, completing Model N’s shift to a cloud-based business, and continuing to innovate for its clients.
The growing Hyderabad team is still committed to encouraging innovation through experimentation. For instance, 200+ employees from Model N came together for the first N-Ovation event, a hackathon/talent showcase, last year. There, they developed award-winning solutions that were then implemented into actual features and functionality used by the Model N team and its customers.
Model N intends to keep N-Ovation going and is gearing up for its second annual event in December 2022, where new ideas will have another chance to drive innovation and value for customers.
“Our state-of-the-art facility in India is a key driver of our business strategy and is highly valued within Model N’s worldwide operations,” said Mr. Blessing. “We aim to keep investing in India, and our target is to keep increasing our engineering talent pool in Hyderabad.”