Salesforce is launching out new Revenue Cloud services to simplify its B2B activities for the customers. Revenue Cloud will give agility to businesses to make the buying process faster and more comfortable, thus accelerating and improving their revenue efficiency.
Revenue Cloud would bring CPQ and Billing, Partner Relationship Management and B2B Commerce capabilities altogether. Also, being part of the Salesforce Customer 360 Platform, Revenue Cloud will help companies to connect their sales, operations, partner, and finance teams into a single source of truth for the revenue and customer transactions, starting from the purchase to renewal to revenue recognition.
There are several advantages of having Revenue Cloud in Salesforce. The advantages include:
Transform the buying experience: Revenue Cloud will give customers the capability to see across various sales channels with a digital storefront, partners, and direct sales. The new CPQ-B2B Commerce connector will allow businesses to customize their digital storefronts with configurable pricing for a self-service experience for complex B2B selling.
Accelerate new revenue streams: Revenue Cloud can quickly come up with new monetization strategies. The strategies can include launching a subscription product or implementing consumption pricing. The recent acquisition of Vlocity will also provide specific solutions for workflows related to revenue, such as managing ad inventory or content syndications for media organizations.
With the help of Revenue Cloud Quick Starts, companies can initiate subscription offerings from the inception to the finish in almost eight weeks rather than months.
Improve revenue efficiency: Teams can automatically validate sales orders and combine invoices to prevent issues such as underbilling for services or wrongly tracking changes to the contract to lead to a loss in revenue in the sales cycle. The Customer Asset Lifecycle Management tool will simply keep track of all contract amendments over time and open balances to provide a proper understanding of the customer relationship.
Revenue Cloud will create a framework so as to scale up the channel selling, services revenue, and support new digital business models, which are all started in 2020.