Why is Revenue Cloud Best for B2B Channels?
Last year Salesforce launched Revenue Cloud specifically targeting B2B channels to take complete charge of their revenue growth. Many businesses' revenue cycles were thrown into uncertainty when COVID-19 hit – agreements froze as customers' needs abruptly altered, sales channels were disrupted, and forecasting data became unreliable because no one knew what to anticipate. Other businesses struggled to keep up with the seemingly overnight spike in demand for their products. To mitigate risk, one will need a real-time pulse on every channel’s sales, revenue, and price.
Why Revenue Cloud?
To help small businesses take control of their revenue growth across all channels, Revenue Cloud combines CPQ and Billing, Partner Relationship Management, and B2B Commerce capabilities. Revenue Cloud will enable businesses to integrate their sales, partner, operations, and finance teams to provide a single source of truth for revenue and customer interactions, from purchase through renewal to revenue recognition, because it is part of the Salesforce Customer 360 Platform.
1. Enhance the company’s revenue efficiency
Dynamically validating sales orders and aggregating bills avoids problems like underbilling for services or wrongly recording contract changes, both of which can result in lost income over the sales cycle. Rather than having to for a seamless connectionTheirinstall outdated order forms, the new Customer Asset Lifecycle Management tool provides a simple, visual dashboard of everything a customer has purchased, taking note of all agreement provisions over time and open balances to provide a better knowledge of the customer relationships.
Real-time monitoring of key performance indicators (KPIs) such as customer retention, net revenue retention, and monthly recurring revenue helps teams focus and make strategic decisions about where to minimize expenses and which clients to target. Revenue data can be used to change go-to-market plans or provide discounted advice thanks to ERP system integrations.
2. Channel pricing stability is optimized
a) Provides clear, easy-to-understand pricing and margin safety barriers within Salesforce so that every individual of the sales and channel partner sales teams may use them in every quote they create.
b) Getting the correct price optimization for each channel, channel partner, deal type, and product/service combination.
c) Using an automated system that can scale to incorporate additional channel partners and new channels as needed, achieving pricing consistency across all channel partners.
3. Revolutionize buying
Direct sales, partners, and digital storefronts give clients the flexibility to effortlessly transition between different sales channels. A consumer can now load their online basket with a specific combination of products or services and then contact a sales representative to ask a question or seek a discount on their own. Their representative will already have a thorough awareness of the customer's current product history and online engagements at their fingertips for a seamless connection. Businesses can now design digital storefronts for complicated B2B selling and add customizable, changeable pricing to digital carts for a self-service experience with our new CPQ-B2B Commerce connection.
4. Establish new markets
New monetization techniques, such as establishing a subscription product or instituting consumption pricing, can be promptly implemented by revenue operations teams. Companies can now build income streams from several clouds on a single platform given the new Multi-Cloud Billing feature. Field service representatives, for example, can upsell products or generate income from onsite services using a single, unified invoicing and payment system. Businesses can also use Revenue Cloud Quick Starts to develop a subscription offering from start to finish in eight weeks rather than months.
If your business is not growing as it should connect with us. We assist organizations and companies, big or small, in accelerating growth, whether through filling revenue gaps or doubling down on aspects of the business performing well. Revenue Cloud may be the one source of truth for client transactional data, regardless of the complexity of your deals, business strategy, or revenue procedures.