Salesforce today announced new Revenue Lifecycle Management capabilities that enable businesses to scale and automate the entire quote-to-cash sales process. It will automate everything from quoting and contracting to order fulfillment, on a single platform for sales, finance, and legal teams.
What is new in upgraded Revenue Lifecycle Management?
Upgraded Revenue Lifecycle Management introduces many enhancements and new features to Revenue Cloud’s quote-to-cash capabilities. Revenue Lifecycle Management, which is built natively on the Einstein 1 Platform, offers direct sellers an intuitive, AI-guided quoting experience. It also enables businesses to expand their scope across distribution channels and revenue models. Businesses can deploy required product features using flexible metadata models. This will empower them to automate processes anywhere they transact, including third-party integrations.
Business want to improve their seller experience and drive more revenue in an increasingly complex selling environment. Below capabilities are added in upgraded Revenue Lifecycle Management
1. Automation and AI integration
Businesses can use Salesforce’s Einstein AI capabilities to automate processes, guide quotes, and improve decision-making throughout the revenue lifecycle. For example, Contracts AI employs generative AI to recommend the appropriate contract clause to a business user, thereby shortening contract cycles and improving accuracy.
2. Omni-channel purchasing and selling
With a unified product catalog, businesses can sell to direct sellers, partner channels, or self-service channels like storefronts and in-app user flows. Modular features enable businesses to provide seamless purchasing experiences across all channels and Salesforce applications.
3. Monetization model flexibility
As products-as-a-service become more common, subscription management functionality automates processes from amendment to renewal, providing a seamless experience for both customers and sales teams.
4. Modernized ordering and decomposition
Businesses can manage complex order processes at scale, from fulfillment to billing. Dynamic Revenue Orchestration allows businesses to create customized fulfillment plans for each product by breaking them down into products and order lines, ensuring that customers receive the correct products quickly.
Availability
Upgraded Revenue Lifecycle Management is generally available now.
References
Salesforce Introduces Capabilities to Transform Revenue Lifecycle Management
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