Salesforce’s Revenue Cloud brings together the capabilities of CPQ, Billing, PRM, and B2B Commerce with the intentional focus of enabling customers to take control of their revenue growth across all channels.
For many businesses, Covid-19 has highlighted the criticality of a challenge that’s historically an afterthought, connecting the front and back offices. Historically, our finance teams are handed data and processes that are broken and require heavily manual and swivel-chair processes. With most CFOs needing to keep their business cash-flow positive; revenue leakage, high operational costs, and inconsistent data must be solutioned in a scalable and transparent manner.
Insert Revenue Cloud. Revenue Cloud is a solution that allows companies to connect sales, partners, operations, legal, and finance teams around a single source of truth for revenue and customer transactions, from purchase to revenue reconciliation. This enables a smoother and optimized process for both data and people, reducing manual steps and the swivel-chair processes.
Determining if Revenue Cloud is right for you
My Salesforce journey started as a customer, and thus we’d be remiss if we didn’t talk about what this means for our current customers. As we do with all our prospects and customers, we’re going to focus on the three common symptoms that companies may be experiencing that indicate there is value in integrating Revenue Cloud:
When speaking with clients before implementing Revenue Cloud, it’s extremely common that their sales data is inconsistent or requires manual intervention to support processes. Companies often point out they’re maintaining different quoting solutions to satisfy the user’s needs. This causes instances where quotes may include insufficient data or the wrong configuration, making it difficult to properly quote. In these instances, we need to spend time with users and customers to rework and revalidate correct configurations. We want our partners to be part of the solution of delivering a seamless experience from the initial interaction through to final invoicing.
Quoting and billing capabilities
We often hear that Native Sales Cloud quoting capabilities are not scaling to meet customers growing needs. With quoting existing on one platform and invoicing done with a back office tool, a window for error is created. Partners can only gain access to data by working with internal contacts to receive a report every so often, meanwhile, there’s usually middleware integration software to keep all these solutions communicating. By not having a reliable process in place, we see companies looking to Revenue Cloud to combine several solutions into one cohesive “stack” solution.
Lack of systematic rules
Without having systematic rules in place, there’s no way for a company to guide their business process. Users typically present customers with a standard set of questions but run into issues when the process breaks off into several different tangents and communication styles. By making systematic rules, companies can ensure precious resources are consumed wisely with customers receiving a quote, order and invoice that can be easily understood and documented from start to finish.
If any of those symptoms are resonating with your business, then it might be time to start evaluating how Revenue Cloud can be the inflection point to start solving these challenges for a stronger, healthier future.
Growing your business with Salesforce
All of the above issues point to a broken user experience that should be remedied. Revenue Cloud’s components are specifically designed to address these problems and conveniently, the platform follows Salesforce’s three releases a year program to add additional functionality.
Through introducing Revenue Cloud, end-users or partners can use either Salesforce Sales Cloud or PRM to access the CPQ interface to perform quoting. With everyone sharing the same toolset to create quotes, consistency is seen across the board, no matter who’s creating the quotes. Additionally, partners can gather information about products and services through the PRM that goes beyond quoting, including promotional material, training guides and shared client data. Similarly, Salesforce Billing provides access to necessary documents on a common interface with the whole process of quote-to-cash living on a single platform.
Improve your organization’s functionality to create a coherent customer experience with Revenue Cloud. Accelerate your revenue growth through optimizing your revenue efficiency by introducing scalable processes that are both consistent and functional for both your customers and internal teams.