Customer behavior in the Business-to-business (B2B) sector has changed significantly in recent years. Organizations have now begun to see an increased need for seamless experiences from the first time customers view the product, all the way to checkout. The spike in digital stores over the last few years has further underscored the need for a single revenue management platform that would keep track of varied customer demands, and improve revenue efficiency.
In late 2020, Salesforce added Revenue Cloud to their Customer 360 platform that promised to help enterprises with a single channel that would encompass operations like purchase, renewal, and revenue recognition across multiple sales channels. It combines Partner Relationship Management (PRM), B2B Commerce capabilities, and CPQ and Billing to make it easier for organizations to keep track of their varied income streams. It connects its sales teams, partner teams, and finance teams on a single platform to enable smooth operations.
Revenue Cloud: A single source of truth for all transactions:
Optimizing customer experience: With Revenue Cloud, customers can interact with sales representatives and partners with configurable products and services based on specific workflows in the business unit. Revenue Cloud’s analytics dashboard offers a detailed view of customers, their purchase history, subscription information, and a lot more. With a complete overview of customers, sales associates are better equipped to help customers choose the right kind of product to suit their needs.
Adaptable Pricing Policies: In today’s rapidly changing economic landscape, pricing models are no longer fixed. There is an urgent need to adopt dynamic pricing models to stay ahead of the cutthroat competition in the market. Dynamic pricing from Revenue Cloud helps enterprises introduce pricing models on the spot, based on need. This helps create innovative revenue strategies and improve business ROI. Revenue Cloud also helps sales representatives whose productivity is often stymied with intricate contracts and renewals.
Reducing Errors: Salesforce Revenue Cloud helps automate the entire billing cycle from Quote-to-Cash which helps organizations to save time, improve efficiency, eliminate human errors that occur during manual billing processes, and reduce dependencies on external billing software solutions.
Improving Partner Relationships: It is imperative for organizations to streamline third-party partner relationships that will help improve channel sales and increase bottom-line revenue. With Salesforce Revenue Cloud, companies can onboard and train partners to process invoices, manage recurring bills and payments, all on a single platform.
At Kasmo, we help organizations from different sectors streamline their financial obligations and improve transparency in lead-to-billing cycles with Salesforce Revenue Cloud. Our experts are well-versed in guiding you to customize solutions for your unique business needs. It will also go a long way in helping your sales representatives stay abreast of new product information and customer backgrounds that will allow them to upsell and cross-sell your products to existing customers. To know more about integrating Salesforce Revenue Cloud, talk to an expert at Kasmo today.