Effective quote generation, proficient cross-selling, accurate forecasting, and swift resolution of billing disputes – these are crucial components that form the backbone of a successful sales cycle. Salesforce Revenue Cloud is a platform that is designed to streamline these aspects, bringing about an efficient, effective revenue management system.
OMI is a Salesforce service provider with 20+ years of CRM experience. Our expert team provides extensive services, including consulting, administration, Salesforce customization and much more. As trusted Salesforce partners, our mission is to enhance businesses’ growth and performance with innovative Salesforce solutions – including Salesforce Revenue Cloud.
So in this article, we share our expertise on the core features and benefits of Salesforce Revenue Cloud. We discuss its integration with other Salesforce products, pricing, and how OMI’s know-how can help your business make the most of this powerful tool for optimized revenue management.
What is Salesforce Revenue Cloud?
At the end of the day, this is a solution that is designed to strengthen the link between your crucial, internal operational departments like sales, operations, and finance, and also externally with stakeholders like suppliers and partners.
The aim is to enhance the processes from lead generation to the point at which revenue comes in; to improve efficiencies along the way, provide the ability to make more accurate predictions, and facilitate business growth.
What Businesses Will Benefit From Revenue Cloud?
Today’s average consumer expects a shopping journey that flows easily no matter what their shopping method is, what device they are using, or their location. Salesforce makes it easier to deliver this experience, providing a unified process across all sales channels, complete with tailored workflows for different industries.
A component of Salesforce Customer 360, the platform enhances interdepartmental cohesion by bringing together CPQ, Billing software, and Subscription Management with Sales Cloud and Service Cloud. This makes it especially beneficial for companies whose business models have more complicated sales workflows and procedures, or those offering a mix of products, services, and subscriptions.
Simply put, this software can offer substantial advantages to various types of enterprises, including both B2B and B2C companies, in fields such as manufacturing, software and tech, healthcare, and telecommunications.
How to Use Salesforce Revenue Cloud
There are several key functions where the platform is particularly powerful and helps you unify your sales channels for a seamless customer experience:
Engage your Customers Across Various Channels
The CPQ-B2B Commerce connector helps you implement a single sales strategy that covers different channels by allowing you to customize digital storefronts for B2B selling. You can even configure pricing for a self-service experience.
Devise Innovative Monetization Strategies
Create flexible and diverse streams of income by offering your clients subscriptions or implementing pricing that is based on consumption. You can also create industry-specific workflows and generate income from other clouds.
Enhanced Customer Visibility
Get more insights from customer purchases and gain the ability to mold each interaction strategically. Your staff can view outstanding payment balances and track consumption limits, and thereby interact with customers more strategically.
Automate Manual Tasks
Improve efficiency, reduce errors, and avoid losing revenue by handing off manual processes in your sales orders, invoicing, and contract amendments, and ensure you are not losing income as a result of inefficient workflows.
Revenue Analytics
Make use of highly informative and useful metrics such as ‘revenue by channel’ to help your teams better assess performance, optimize results, and improve business operations.
Key Features of Revenue Cloud
Billing and Revenue Recognition
With automated invoicing, flexible billing, and accurate revenue recognition, this feature eliminates errors, reduces the time spent on billing tasks, and helps you stay compliant with standards when it comes to your accounting methods.
Configure, Price, and Quote (CPQ)
CPQ automates the quotation process, ensuring accurate pricing even for complex deals. It accelerates sales cycles and increases deal sizes by delivering the right product combinations and optimizing pricing.
Subscription Management
This allows for the management of recurring revenue with subscriptions and facilitates a smooth customer experience from quote to renewal.
Revenue Forecasting and Reporting
It offers insight into the sales pipeline and revenue projections. With real-time analytics, you can make more informed decisions to drive growth.
Partner Management
By managing indirect sales channels effectively, you can expand your business reach and increase revenue.
READ ALSO: The Complete Salesforce Implementation Guide
Benefits of Using Revenue Cloud
The platform offers a wealth of benefits to enhance your business operations:
- Consolidates your revenue data and processes, with visibility into your sales cycle from offer to revenue realization.
- Simplifies accounting and automates contract renewal, ensuring seamless financial operations.
- Affords your customers a seamless experience across multiple sales channels, facilitates cross-selling, and helps increase recurring revenue
- Gives your sales reps comprehensive customer history for more personalized interactions
- Automation eliminates manual tasks, reduces errors, and accelerates processes in the sales cycle
Integrations with Other Salesforce Products
The platform gets even more powerful when used in tandem with other Salesforce tools.
Sales Cloud boosts efficiency with smarter automation and data use. Partner Relationship Management improves sales by making it easier to manage different partners like resellers and distributors.
There is also Salesforce Maps, which gives your sales team the best routes for productivity and successful sales. And Sales Engagement, built into the CRM, which speeds up sales by helping you connect better with buyers.
Salesforce Revenue Cloud Pricing
For organizations using Sales Cloud, the Revenue Intelligence package is available at $200 USD per user per month, billed annually.
Similarly, for businesses that operate with Industry Clouds, Salesforce offers a tailored Revenue Intelligence solution. Priced at $200 USD per user per month, also billed annually.
Get Started with Salesforce Revenue Cloud with OMI
Revenue Cloud can undoubtedly revolutionize your revenue management process. It integrates seamlessly with other Salesforce products and brings numerous benefits to businesses of all sizes and industries.
However, appreciating its potential and actually bringing it to bear for your business are two different things. This is where OMI steps in.
As trusted Salesforce consultants with over two decades of experience in CRM, we specialize in tailoring Salesforce solutions to meet your unique business needs. From strategy planning and implementation to integration and customization, we can help you make sure your experience is what you envisioned with your business goals.
We’ve successfully completed over 250 Salesforce projects and bring to the table a wealth of SaaS experience.
Start your journey with OMI today!