Covid-19 has left a remarkable impact on businesses such as disruption of sales channels, change in customer needs all of a sudden with deals stalled, and forecasting data becoming unreliable. But, despite all changes, the pandemic has not changed one thing and that is revenue. Salesforce Revenue Cloud creates a single point of reference spanning across purchase, to renewal to revenue recognition.
Firstly, Salesforce Revenue Cloud is part of Customer 360-degree platform. Revenue Cloud includes several Salesforce products such as CPQ and Billing. The Revenue Cloud includes Partner Relationship Management Program (PRM) and B2B commerce.
In the words of Salesforce, “We are helping businesses accelerate growth, whether that means filling the gaps of lost revenue or doubling down on the areas of your business that are doing well,” and “No matter the complexity of your deals, business model, or revenue processes.
Secondly, Revenue Cloud gives the agility to your business serving the purpose of accelerating revenue generation and revenue efficiency and making the buying process – faster and easier. Revenue Cloud combines all three – Salesforce CPQ and Billing, B2B Commerce and Partner Relationship Management.
Finally, Revenue Cloud creates a single source of truth for your business, connecting sales, partner, operations and finance teams. The single source of truth provides the latest slice of revenue by forecasting performance by measuring and tracking KPIs with a customer 360-degree view of the customer. It fastens the revenue growth across all channels. There are many reasons for choosing Salesforce Revenue Cloud and let us now deal with those.
Here are the reasons:
Revenue Cloud helps to build a stronger customer relationship. It makes purchasing faster, easier and more intelligent. Customers can seamlessly jump across different sales channels, with the help of storefronts, sales and partners.
Firstly, the CPQ-B2B Commerce Connector helps your businesses to customize digital storefronts. This helps in self-service experience for the customers by addition of configurable pricing to digital carts as well as complex B2B selling.
Secondly, the customers fill their online cart with configurable with the configuration of products and services and then ask for a discount or request a question from a sales rep. The sales reps are equipped with an in-depth understanding of product history and online transactions. It drives faster any form of negotiated sales, This offers compliant solutions, make the documentation of terms easier as well as route pricing for faster approvals
The new technology provides industry-oriented solutions on unique workflows on revenue. Multi-cloud billing creates a revenue stream from other clouds on a single platform. Revenue is created from onsite services or upselling products by the sales reps with billing and payments with a single, unified system. A flexible billing engine speeds up cash collection. The billing system must bend to the customer needs. It enables to support easily any sales order or payment schedule.
Businesses can provide subscription offering within a short period with the Revenue Cloud Quick Start programs. This enables your business to take faster control of revenue. This allows to close deals faster, automate the customer lifecycle and combine sales and finance in a unified way.
The Customer Asset Lifecycle Management tool offers a dashboard on all purchases for insights on open balances for an in-depth understanding of customer relationships and tracking all contract management over time. Moreover, your team can align for taking strategic decisions by comparing the real-time tracking against KPIs of your business such as – customer lifecycle value, net revenue retention and monthly recurring revenue. This determines the areas of cost-cutting and kind of customers to target.
Moreover, integrations with ERP system provides critical actionable insights for proper implementation of go-to-market strategies and guiding on discounts. The aim is to reduce lost revenue in the sales cycle by preventing issues such as incorrectly tracking changes to a contract or underbilling for services with automatic validation of sales orders and consolidating invoices.
Salesforce Revenue Cloud drives faster the growth of your business by engaging customers across all channels. Its fills the gaps of lost revenue or concentrating on areas of business which are not doing well. Salesforce Revenue Cloud also provides your business with agility. Revenue Cloud acts as a single source of truth for customer tractional data and it combines the sales, partner and operations.
Learn more about Salesforce financial cloud
Moreover, Revenue Cloud connects the customer and revenue lifecycles. It ensures that the products and pricing are up-to-date and create an automated process across the entire revenue lifecycle with the consolidation of the products price books and catalogues. It can deliver an outstanding customer experience by bringing together your sales and finance functions. You can place self-service orders, searching products online or requesting a quote from a sales rep – from anywhere.
Blog