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
Utilise date effectivity and advanced agreement inclusion and exclusion facilities for all pricing/rebates to quickly determine membership parameters and ensure accuracy
Expense activity as it occurs, greatly reducing end of month processing via real-time accrual processing and settlement facilities (automated updates/adjustments/corrections)
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
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.
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.