What Is Salesforce Revenue Cloud and Is It Right for Your Business?
July 16, 2024
Over the past few years, the revenue management industry has experienced exponential growth that shows no sign of slowing down—the market was already valued at $19.9 billion in 2022. That number is expected to more than triple by 2032.
With countless businesses searching for innovative tools to help stay ahead of revenue management trends, Salesforce launched Salesforce Revenue Cloud in 2020, responding to the massive demand for all-in-one revenue management software.
Salesforce Revenue Cloud integrates your core revenue management services into a single platform. Its interconnected system can help you streamline your tech stack and unify your data, conveniently providing a holistic picture of your revenue management strategies within your CRM software.
Understanding Salesforce Revenue Cloud
Salesforce Revenue Cloud helps companies manage their revenue streams and develop a more efficient sales ecosystem by combining several Salesforce solutions into an integrated sales engine.
Its key capabilities include:
- CPQ (cost, price, quote): CPQ uses preprogrammed rules to quickly generate consistent pricing quotes.
- Billing: Salesforce Billing automates your invoices, payments, refunds, and transaction records.
- Partner Relationship Management (PRM): PRM encompasses tools related to helping partners sell your products to their customers, such as onboarding tools, pipeline management tools, and selling portal builders.
- B2B Commerce: Salesforce B2B Commerce designs digital storefronts and offers eCommerce features like payment processing, visitor authentication, product catalog development, and dynamic product management.
Essentially, Salesforce builds bridges between these functionalities, cultivating an interconnected database of information that accurately reflects your entire revenue lifecycle. Its all-in-one setup also offers advanced revenue analytics that consider the primary factors influencing revenue management and generation.
Key Features and Benefits
As mentioned, choosing Salesforce Revenue Cloud to power your revenue management can help you maximize the efficiency of your overall sales ecosystem.
But how exactly?
Across its main services, Salesforce Revenue Cloud offers several features that streamline sales systems, engage customers, and leverage data for valuable insights:
- Guided selling processes
- Customer lifecycle management
- Automated billing software
- Omnichannel self-service subscription management
- Custom product bundling and order configuration
Harnessing these capabilities unifies your revenue generation processes, speeding up your sales pipeline, creating consistent pricing systems, and providing more visibility into your sales data.
In particular, automating core tasks throughout this interconnected system allows you to develop repeatable sales processes that improve your customer experience while boosting your potential to generate revenue.
Implementing Salesforce Revenue Cloud in Your Business
To further increase the potential benefits you experience from Salesforce Revenue Cloud, following these best practices for implementation:
- Communicate with stakeholders about their revenue management needs
- Outline your current processes and build a roadmap for switching to Salesforce systems
- Audit your current data to support a seamless migration to Salesforce systems
- Configure your CPQ, billing, and partner management settings to automate your key workflows
- Use Salesforce integration tools to connect Revenue Cloud with your third-party systems
Shifting your revenue management processes requires a large-scale, coordinated effort across all revenue generation arms of your business. Working with an implementation partner like Operatus can ensure you successfully customize your tools, promote stakeholder buy-in, and seamlessly deploy your new Salesforce system.
Is Salesforce Revenue Cloud Right for Your Business?
So, you understand how Salesforce Revenue Cloud works and the various benefits it can provide. But how do you know if it’s right for your business in particular?
Ultimately, Salesforce Revenue Cloud can support businesses in any industry and size. That being said, its high-powered capabilities are best suited to companies with complex sales processes relying on multiple tools within their tech stack. This is because, when integrated, Salesforce Revenue Cloud can replace multiple other tools with one convenient, consolidated system.
Regardless, if you take advantage of it, you’re bound to see results—implementing Salesforce Cloud correlates with a 40% increase in sales productivity. This statistic showcases the power of Salesforce revenue management tools across all businesses and industries.
Success Stories and Case Studies
By implementing Salesforce Revenue Cloud, companies bogged down by inefficient sales processes can optimize their sales ecosystem to improve performance and drive growth.
Take, for instance, the tech company Podium. They leveraged Salesforce Revenue Cloud to speed up their quoting process by 80%, automate their onboarding process, and accelerate product launch.
The Podium team could easily make data-driven decisions about product offerings, pricing, and customer engagement strategies with their core revenue generation information in one platform.
Through a partnership with Operatus, IT services provider Exclaimer also leveraged Salesforce capabilities to transform their pipeline management and directly provide accurate quotes at scale through their CRM. Paired with analytics that offered greater visibility of key KPIs, these tools helped create a more effective sales system that continues to drive growth.
Suffice it to say the Operatus team is well-versed in leveraging Salesforce QPC and other Revenue Cloud features to maximize value for your business.
Discover how to get started with integrated revenue management solutions at your organization by contacting one of our implementation specialists today.
