New Delhi, 5 February (IANS). According to a report released on Wednesday, most leaders of Life Science (Pharmaceutical and Medical Technology) and High-Tech companies (semiconductor, electronic equipment and other production companies) believe that AI will promote revenue management of their companies in 2025.
According to the report of Revenue Management Solution Provider Model N. 87 percent of the industry leaders are moving towards automated to their revenue management, but about 60 percent are still dependent on many different solutions. In addition, 62 percent of companies are using or planning generative AI, so that the analysis of deals, automation of processes and future prospects can be predicted.
Companies that have more than 10,000 employees are likely to adopt 51 percent more integrated revenue management solutions than small organizations.
Suresh Kannan, Chief Product Officer of Model N Company, says Life Science and High-Tech companies are using new techniques to automate and improve revenue operations. The report states that adopting AI and integrated platforms can make more profit, increase efficiency and pursue business.
According to the report, there is also a major change in medical technology (Medtech) companies. About two-thirds of companies have seen changes in healthcare operations due to AI and automation.
High-tech companies are increasing the use of channel data in sales and pricing. 87 percent of companies are regularly using this data. High-tech industry is at the forefront of adopting new technologies, where 74 percent of companies are planning to implement JenAI.
Obstacles in the supply chain are still affecting the strategy of the companies. 53 percent of companies are working with new suppliers, 51 percent are adopting new technologies and implementing 50 percent sustainable initiative.
Also, 95 percent of high-tech companies are concerned about the gray market, due to which they are taking steps like removing unauthorized vendors.
-IANS
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