Top Salesforce Summer '22 Updates for Revenue, CPQ, and Billing
With the world's most potent revenue management platform, it's simple to get complete transparency over the entire purchasing process. Especially with the latest Summer ‘22 release notes and upgraded features, tasks become even more accessible and efficient.
To boost revenue, use Subscription Management. Leverage Salesforce CPQ Plus to track asset lifecycles and enable a release update in Salesforce CPQ. Examine a billing modification in Salesforce.
Let’s go through the latest upgrades from the Summer ‘22 release notes
Subscription Management (Generally Available)
Subscription Management streamlines the selling, invoicing, and money collection procedures for subscription and one-time transactions. Generate new portfolios, regulate cost, monitor memberships, bill clients, estimate delayed payments risk, collect payments, and monitor customer transactions. Irrespective of the selling channel, the Subscription Management API manages your subscription lifecycle.
Where: This modification affects the Professional, Enterprise, Unlimited, and Developer editions of Lightning Experience.
Who: A Subscription Management license is required to use this functionality.
Product Sales
Manage one-time sales, as well as fixed-term and evergreen subscriptions. Import classified product catalogs with pricing, selling, and discounting information with ease.
Product Costs
Evaluate pricing and price comparisons. Use volume or selective discounts to maximize pricing for maximum sales.
Buy Now and Sell on Your Favorite Channels
Make it simple for users to place orders through your website or other channels. A Buy Now flow template in Subscription Management retrieves current products and pricing, creates a request, an inventory, and a statement for a subscription, and handles the initial fee.
Tax, billing, and payment automation
Calculate tax, create recurring and one-time invoices, process and apply for payments, and send credit memos with Subscription Management.
Subscriptions: Cancel, Renew, and Track
When consumers make their first purchase, subscription management does not end. With the Asset Lifecycle Management functionality, you can see what goods each customer has purchased and manage subscription cancellations and extensions.
Einstein Collections scores invoices for late payment risk (Beta)
You can prioritize unsecured invoices by scoring them based on the probability of late payment.
Einstein Collections evaluates invoices for late payment risk (Beta)
When you employ Subscription Management, you can improve your collection process. Einstein Collections scores invoices for the likelihood of late payment based on invoice and account information. The scores can be used by your payment and collections team to prioritize high-risk bills.
Where: This modification affects the Experts, Corporate, Unlimited, and Developer subscriptions of Lightning Experience.
Who: A Subscription Management license is required to use this functionality.
The Subscription Management API will help you grow your subscription business (Generally Available)
Subscription Management supports the subscription lifecycle with a REST API and regular Salesforce components. To link Salesforce data with the front end of your choice, use the Subscription Management API. The API supports calculating prices and price modifications, establishing a Buy Now experience, renewing and terminating a subscription, and handling invoicing and payments.
Where: This update affects the Professional, Enterprise, Unlimited, and Developer editions of Lightning Experience.
Who: A Subscription Management license is required to use this functionality.
Salesforce CPQ
Activate a release update in Salesforce CPQ that improves browsing performance, and track what your customers have purchased with Salesforce CPQ Plus' Customer Asset Lifecycle Management.
Salesforce CPQ Optimizations in the Browser (Release Update)
Salesforce CPQ now operates faster than incompatible web browsers thanks to the use of Web Components V1 technology. This update was first released in Summer '21 and is implemented in Summer '22.
Where: In Salesforce CPQ, this update affects Lightning Experience, Salesforce Classic, and the Salesforce mobile app.
When: This upgrade was initially released in Summer '21, and it is now considered a standard that cannot be turned off. Go to Trust Status, look for your instance, and select the maintenance tab to receive the major release upgrade date for your instance.
How: Salesforce CPQ runs smoother using Web Components V1 technology, but the aesthetic of the improvements may differ.
Quote line editor
Product selection
Salesforce CPQ favorites
Product bundle configuration
Quote calculator plugin
Page security plugin
Salesforce CPQ Plus provides Customer Asset Lifecycle Management.
You now have visibility into items your customers have purchased with a Salesforce CPQ Plus license, from the original transaction until the end date of a subscription or service. Customer Asset Lifecycle Management was previously only offered through Salesforce Billing.
Where: In Salesforce CPQ Plus, this update affects Lightning Experience, Salesforce Classic, and the Salesforce mobile app.
These are the upgraded Summer ‘22 release notes for Salesforce Revenue, CPQ, and Billing to make your work smoother.
If you want your company or organization to run efficiently and effectively, get in touch with us today. We can assist you with the implementation of the latest features. Visit our website for more information and contact us in case of any further queries.
Read about the top Salesforce Summer ‘22 release notes here.