Guide to Salesforce Revenue Cloud
Hawk-eye editor with a passion for trailblazing Salesforce experiences
Salesforce Revenue Cloud is a solution specifically designed to streamline the revenue lifecycle. Released in 2020, Revenue Cloud is a relatively new member of the “Salesforce Clouds” and aims to bring together a range of data relating to Salesforce processes in order to increase profitability. This Revenue Lifecycle Management includes smoothing out quote-to-cash processes, Salesforce CPQ (Configure, Price, Quote), and the entire contract process around a deal.
Now that Salesforce has reinvented itself as the #1 AI CRM, Revenue Cloud has also been turbocharged with several exciting new AI features to guide and automate the quoting process. In this article, we give you the 101 on Salesforce Revenue Cloud including top features, pricing options, AI capabilities, and limitations. If you are looking to drive up profit and ramp up Sales with the power of your CRM, then keep reading.
What is Salesforce Revenue Cloud?
So what is Revenue Cloud? Well, first of all, Revenue Cloud is not just one thing! This Cloud, an extension of Sales Cloud, connects different aspects of the sales process, namely:
Benefits of Salesforce Revenue Cloud
Salesforce Revenue Cloud offers several benefits for businesses aiming to streamline revenue operations.
Gather Customer Insights
Connecting all Revenue Data provides holistic insight into customers across the sales lifecycle. This enables sellers to engage in more personalized relationships with customers, make more impactful offers, and win loyalty from buyers. With a bit of proactivity, you can leverage data insights from Revenue Cloud to create a predictable revenue model to figure out customer needs and pain points.
Streamline Revenue
Revenue Cloud’s superpower lies in bringing together different members and teams in your organization around the core goal of revenue generation. When sales, service, upper management, legal, marketing, and other teams are aligned it eradicates data siloes in the revenue process and creates effective end-to-end revenue management processes. While features like CPQ are powerful on their own terms, when placed in the context of a broader revenue management process, they become part of a complete and robust sales cycle where all steps and elements work in unison.
Improve Buyer Experience
It goes without saying that buyers become easily frustrated with error-riddled quotes or dealing with different disconnected teams when purchasing a product. Buyers want the purchasing process to be easy! With Revenue Cloud, different teams in your organization are connected across the sales cycle for a seamless customer journey. By drawing on the most up-to-date information from Salesforce, Revenue Cloud can generate pinpoint accurate quotes, prices, and contracts that can be seamlessly updated. Buyers can purchase what they want quickly and effortlessly.
Enhanced Product Delivery
The speed and accuracy of Revenue Cloud ensures that products can be delivered efficiently to consumers and at competitive prices. Product pricing is more accurate than ever, based on insightful data into market behavior.
Automated Business Processes
Revenue Cloud has the power to automate every step of the revenue lifecycle. This includes creating product catalogs based on Salesforce data, easy-to-use CPQ software that helps sellers create quotes, as well as automated notifications for customers, and automated billing for recurring deals. If you choose to purchase Einstein 1 Sales then you can make use of several features that guide sellers through the entire sales process with fast insights and recommendations.
Integrations
Revenue Cloud integrates with several payment gateways including any partner app listed on Salesforce’s AppExchange to enable you to effortlessly accept payments. For details of integration capabilities, contact your Salesforce representative.
Salesforce Revenue Cloud Data Model
The Salesforce Revenue Cloud Data Model is comprised of several standard and custom objects designed to enhance the sales process and boost revenue. If you are a Salesforce developer and are looking for a complete list of fields for one of the objects in the Data Model, then you can use a describe call from the API or a tool of your choice to inspect. Some of the objects associated with standard objects in Revenue Lifecycle Management include “Event”, which refers to an event in a calendar, “Task”, which represents any business activity, and “StandardObjectNameChangeEvent”, which includes information pertaining to “change events” such as record deletion, updates, or creation. For more information, you can visit the Salesforce Developer website.
Salesforce Revenue Cloud Pricing
Salesforce Revenue Cloud comes in several editions*, each with its own price tag:
Starter Suite: €25 per user per month
Pro Suite: €100 per user per month
Enterprise: €165 per user per month
Unlimited: €330 per user per month
Einstein 1 Sales: €500 per user per month.
The edition you choose will depend on whether you are using Revenue Cloud for marketing, sales, commerce, or service. Most of the pricier editions are specifically designed for sales. If you are a larger organization, choosing Enterprise and above is advisable, while if you want to make the most of Revenue Cloud and AI, choosing Einstein 1 Sales will give you what you need.
*prices fluctuate over time, these are the most up-to-date at the time of writing. Check the Revenue Cloud page for the latest details.
Limitations of Salesforce Revenue Cloud
Aside from the price tag, Revenue Cloud does have some shortcomings. For example, if you want to generate documents based on Salesforce data and send them to be signed by customers, you can’t do this without custom development. In addition, the learning curve of adopting this product is quite steep. You can of course engage in some Salesforce Revenue Cloud training on Trailhead, but as of the time of writing, there is no Salesforce Revenue Cloud Certification to push you toward mastering this software. If you want to customize your Revenue Cloud solutions, there is also a strong change you will need to invest in custom coding and development, this will of course require significant time, money, and maintenance to successfully implement.
Revenue Cloud Wrapped
Thanks for reading. We hope you learned more about the fundamentals of Revenue Cloud and how it can link together different members of your business around the shared goal of revenue generation. While Revenue Cloud is a powerful product, it does come with some limitations, including the fact that it is not the simplest software to master. If you are looking for an intuitive and agile alternative to Revenue Cloud, one that requires zero coding and connects directly to Salesforce, why not ask us about Titan’s Deal Room today?
We hope to see you soon!
Disclaimer: The comparisons listed in this article are based on information provided by the companies online and online reviews from users. If you found a mistake, please contact us.
