Salesforce Unveils Advanced Capabilities for Transforming Revenue Lifecycle Management

Salesforce, a global leader in CRM solutions, today announced groundbreaking capabilities for Revenue Lifecycle Management. These new features empower businesses to automate and scale the entire quote-to-cash sales process—from quoting and contracting to order fulfillment—on a unified platform for sales, finance, and legal teams.

Built natively on the Einstein 1 Platform, Revenue Lifecycle Management offers an intuitive, AI-guided quoting experience for direct sellers. It enables businesses to expand their reach across various distribution channels and revenue models. With a flexible metadata model, businesses can deploy precise product capabilities, facilitating process automation across third-party integrations. The comprehensive solution includes Product Catalog Management, Price Management, Transaction Management, CPQ, Contract Lifecycle Management, and Dynamic Revenue Orchestration.

Why It Matters: In today’s complex selling environment, businesses strive to enhance their seller experience and drive revenue growth. Simultaneously, they seek to optimize market strategies with new monetization approaches and sales channels. Salesforce’s latest innovations address these needs by providing tools to transform seller experiences and monetization strategies through consumption and hybrid models, deployable across direct, indirect, and self-service channels.

“Revenue lifecycle management has become crucial for business success. We are aiding our customers in transforming their seller experiences and monetization strategies with models that can be implemented across various channels,” said Meredith Schmidt, EVP and GM of Revenue Cloud, Salesforce.

Also Read: 6sense and Gong Expand Partnership to Help Companies Accelerate Revenue Generation

Key Features and Benefits:

  1. Automation and AI Integration: Leveraging Salesforce’s Einstein AI capabilities, businesses can automate processes, guide quoting, and enhance decision-making across the revenue lifecycle. For instance, Contracts AI uses generative AI to recommend optimal contract clauses, accelerating contract cycles and improving accuracy.
  2. Omni-channel Buying and Selling: Through a unified product catalog, businesses can seamlessly sell via direct sellers, partner channels, or self-service platforms such as storefronts and in-app user flows. Modular features ensure smooth buying experiences across any channel and Salesforce application.
  3. Monetization Model Flexibility: As the products-as-a-service model becomes prevalent, subscription management functionality automates everything from amendments to renewals, ensuring a seamless experience for customers and sales teams.
  4. Modernized Ordering and Decomposition: Businesses can manage intricate order processes at scale, from fulfillment to billing. Dynamic Revenue Orchestration allows customized fulfil
    lment plans for each product, ensuring timely and accurate deliveries.

Customer Perspectives:
– Amy Loftus, Chief Customer Officer at Slalom, said, “We chose Salesforce’s Revenue Lifecycle Management along with Sales Cloud Einstein as critical technologies for our sales transformation. These features will help us drive consistency, simplify processes, manage risk, and increase our speed to value globally.”
– Adolfo Carreno, SVP Digital Technologies & Enterprise Architect at PTC, remarked, “Reimagining product catalog management in Salesforce is exciting. Enhancing orchestration and revenue recognition means more control over the revenue process. The API-first model and pricing engine will significantly advance our omnichannel strategy.”

Analyst Insights:
Stephen Hurrell, Director of Research at Ventana Research, commented, “Adoption of new business models like subscription and usage pricing demands a different approach from traditional one-time sales. Revenue lifecycle management emphasizes customer retention, supporting opportunities for up-selling and cross-selling, ensuring sustained and profitable business.”

Salesforce’s innovative solutions are set to redefine how businesses manage their revenue lifecycle, driving growth, efficiency, and customer satisfaction.

SOURCE: Salesforce

 

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