Revenue Cloud, according to the release, will work to bring together configure, price, quote (CPQ) and billing, partner relationships and B2B commerce capabilities in order to consolidate services and streamline the process overall.
The release stated Revenue Cloud will help with boosting revenue streams through faster monetization strategies, including launching subscription products and adding consumption pricing. The company’s acquisition of Vlocity will help with providing specific industry solutions for workflows related to revenue, including managing ad inventory or content syndication for media companies.
And with the multi-cloud billing feature, companies will be able to create revenue streams from other clouds on the same platform, according to the release, allowing field service reps to upsell products and create revenue from online services while handling billing on the same unified system.
Also, with the Revenue Cloud Quick Starts program, customers can access subscription launches in eight weeks rather than several months, according to the release.
Revenue Cloud will also work to improve revenue efficiency via automation, including relieving the burden of teams working with manual processes for approvals, data reconciliation and order transcriptions between numerous systems. With more automation, businesses will be able to avoid problems like underbilling for services and tracking changes to contracts incorrectly, per the release.
In addition, the release noted the new Customer Asset Lifecycle Management tool will offer a visual dashboard showing contract amendments and helping provide a more comprehensive understanding of the customer relationship.
In July, Salesforce also announced an expansion of its Order Management products, PYMNTS reported. That included helping companies complete purchases without leaving social media channels. According to PYMNTS, Salesforce also introduced a way for sellers to offer new online B2C sales systems in a matter of weeks.