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Advanced trade and revenue management software for health and life sciences manufacturing

Health and life sciences manufacturers face a mounting list of challenges. Perhaps no industry sees more fluctuation in rules and regulations; faster innovation, cutting edge technology, and new treatment methods; along with complex requirements around emerging global markets. Increased pricing and rebate complexities brought on by levels of distribution and final product destination are difficult to manage. Contract pricing agreements, mix and match promotional offers, free giveaways, and samples management are among the many complexities to manage and execute in the health sciences industry.

Flintfox’s industry expertise and suite of revenue management solutions addresses many of these challenges. From pricing and promotional deals to accurate accrual and settlement of customer rebates or sales professional commissions, Flintfox enables your team to achieve expected margins while increasing sales volume.

Flintfox functionality for health and life sciences manufacturers

Minimise administration efforts

Define pricing, promotions, and rebates by any customer, product, or transactional hierarchy/attribute such as geography, market, chain, product group, pack size/UOM, ship point, simplifying agreement maintenance and increasing accuracy

Ensure accuracy

Utilise date effectivity and advanced agreement inclusion and exclusion facilities for all pricing/rebates to quickly determine membership parameters and ensure accuracy

Automate settlements

Expense activity as it occurs, greatly reducing end of month processing via real-time accrual processing and settlement facilities (automated updates/adjustments/corrections)

Increase sales

Utilise cross- sell/upsell and directed selling abilities to increase order volumes, drive additional revenue, or sell warranties

Manage group memberships

Manage buying group/GPO membership; along with date sensitivity, seamlessly execute related pricing, discounts, administration fees, commissions, and rebate programs

Timely accruals and settlements

Ensure all customer rebate and loyalty programs are financially accrued and settled in a timely manner

Configurable commission calculations

Calculate and settle commissions, bonuses, and incentives; split commissions, growth programs, net of rebates, deductions, or early payment discounts

Increase margins via targeted pricing

Empower sales professionals to make informed decisions at time of sale by fully understanding margins including all rebates and retrospective deals

Unlimited pricing flexibility

Utilise configurable calculation methods for pricing: List, $ or % mark-ups, margin pricing, net or contract pricing, all with date effectivity

Interactive claims workbench

Leverage a full claims workbench to quickly process customer payment requests/chargebacks: code, age, report, and issue AR credits

End user contracts

Variable pricing depending on end user destination ( open market, public sector, military/VA, managed care) or group customer buys via

Manage indirect relationships

Seamlessly manage indirect or end-user price contracts and validate associated chargebacks from distributors and resellers

Increase sales

Utilise mix and match and flexible combo promotional offers with configurable purchase requirements and discount levels to drive additional revenue

Thinking about a Flintfox solution for your organisation?

If you are trying to evaluate and consider potentially enhancing your current sales and trade revenue management processes and solutions, the first step is to identify the ultimate maturity goal you should strive for. As part of that evaluation process, it’s critical to define at an appropriate level, what needs to be done to move towards and achieve that goal.

To determine your pathway to growth, simply download The pathway to growth through trade and revenue management to step through the challenges and growth strategies, and diagnose your organisation’s phase of trade and revenue management maturity.

If you’d like us to review this with you, we’d be happy to help. Contact us to discuss how we can deliver a trade and revenue management solution to suit your unique manufacturing environment and meet your long-term profitability goals.