PHILADELPHIA--(EON: Enhanced Online News)--Revitas, the leader in Enterprise Revenue Dynamics (ERD), today revealed new capabilities of the RevitasNOW™ cloud-based ERD solution. The latest update adds comprehensive business analytics to support contracting and pricing activity, makes analytics more accessible on mobile devices, and enables new rebating strategies for high-volume manufacturers. These new features give emerging growth pharmaceutical manufacturers more agility in managing key business processes for sales contracting, pricing, and government compliance.
“critical for identifying and correcting revenue leakage that can reach into the billions of dollars, such as identifying and preventing unearned discounts and rebates, avoiding incorrect pricing, enforcing performance terms in contracts, and maintaining compliance with government programs.”
The RevitasNOW software-as-a-service-based (SaaS) solution for ERD provides a flexible, pay-as-you-grow model within a highly controlled and monitored cloud environment—an ideal choice for mid-market pharmaceutical companies anticipating future expansion. RevitasNOW is built on the standards-based Revitas® Flex® Platform, so it shares transactions and data across application processes and with other enterprise systems such as ERP and CRM. It allows for rapid implementation with minimal IT support and no up-front capital expenditure. As companies grow, RevitasNOW will continue to scale seamlessly to improve contracting systems, mitigate margin erosion, and reduce threats to compliance.
In the recent “Hype Cycle for Life Sciences” report, Gartner analyst Stephen Lefebure notes that revenue management applications are “critical for identifying and correcting revenue leakage that can reach into the billions of dollars, such as identifying and preventing unearned discounts and rebates, avoiding incorrect pricing, enforcing performance terms in contracts, and maintaining compliance with government programs.” Lefebure also states that “with the deployment of SaaS and cloud implementation, barriers to entry are lower than in the past, and present all companies with the opportunity to confront the speed at which U.S. healthcare and European reforms are unfolding.”
The newest update to RevitasNOW includes support for Advanced Purchase-Based Rebates through the Revitas CARS® application. Manufacturers in generics and other high-volume segments can now leverage an even greater range of fee-based and wholesale rebating scenarios that drive sales growth and profitability.
RevitasNOW also expands Revitas Explorer technology, which provides users with powerful ad-hoc, analytical reporting on rebates, promotions, and other complex incentives. The enhanced analytics options offer users extended visibility into current incentives programs, ensuring accurate payment to and from all partners, while enabling users to track, measure, and repeat successful initiatives. This allows manufacturers to develop more creative sales strategies while maintaining confidence in payment accuracy. In addition, the latest update to RevitasNOW includes expanded Microsoft Word support, allowing for easier contract authoring and editing. Finally, with the upgraded RevitasNOW solution, users gain mobile access to Explorer data, allowing them to stay current with critical business information and make decisions ‘on the go.’
“The latest upgrade to the RevitasNOW solution continues our commitment to providing robust, cutting-edge ERD solutions to support emerging growth companies through their development and help them prepare for future growth,” said Al Smith, President and Chief Operating Officer at Revitas. “With deeper insight into revenue management processes through simplified analytics and enhanced mobile access RevitasNOW further optimizes contract, pricing, and compliance management, offering growing companies a flexible, scalable, and cost-effective ERD solution that supports accelerated growth.”
Gartner, Hype Cycle for Life Sciences, Steven Lefebure, Michael Shanler, Dale Hagemeyer, July 31, 2013
Revitas, the leader in Enterprise Revenue Dynamics, delivers integrated solutions for contracts, pricing, and compliance that drive higher profitability and lower risk. Revitas empowers companies to optimize contract performance by defining, managing, and analyzing complex, multi-tier pricing incentives and enables positive proof of compliance with commercial, financial, and industry requirements. Powered by the secure, scalable, and standards-based Flex® platform, Revitas® applications speed time to market and improve visibility across B2B relationships. Hundreds of organizations across the most highly regulated and challenging industries leverage Revitas integrated solutions to save money, make money, and reduce risk. For details, visit www.revitasinc.com or http://blog.revitasinc.com/.