Salesforce’s Revenue Lifecycle Management Platform
What is Revenue Lifecycle Management? The Evolution of Salesforce Revenue Cloud
In the dynamic world of cloud-based solutions, Salesforce Revenue Cloud has been on a journey of constant evolution, shaping the way businesses manage their revenue streams. Let's take a look at the key milestones that have marked this evolution and the exciting new developments that are transforming the landscape.
2015: Steelbrick Joins the Salesforce Family - Adding customizable quoting to the Salesforce portfolio.
2018: Introduction of Salesforce Billing - Powering revenue and collection activities directly on the platform.
2020: Vlocity Teams Up with Salesforce in the Birth of Revenue Cloud - Bringing industry-specific expertise to Salesforce's selling solutions.
2022: Subscription Management Takes Flight - Unveiling the inaugural quoting solution built on core Salesforce, accessible across any channel.
What's New? The Revenue Lifecycle Management Platform!
The latest milestone in the evolution of Salesforce Revenue Cloud is the introduction of the Revenue Lifecycle Management (RLM) platform. This all-encompassing tool, introduced in 2023, marks a significant shift towards an end-to-end solution for managing the entire revenue lifecycle.
Looking ahead to 2024 and beyond, Salesforce aims to bring a holistic approach to product, pricing, transaction, quoting, contracting, invoicing, and overall revenue management with the RLM platform. This, coupled with Salesforce Contracts, creates a unified platform for businesses, ensuring a seamless and integrated experience.
What does this mean for businesses?
The introduction of the RLM platform means businesses can now enjoy robust product-to-cash processes. The focus is on designing products in a way that allows sales organizations to efficiently consume them. This transformative approach is applicable to any industry and any revenue size while particularly shining in omnichannel use cases.
RLM makes it easy by offering a single control center for product, pricing, and transaction rules. This can be applied across different channels like customer portals, distribution, and e-commerce. Forget about juggling rules in every system – with RLM, errors decrease, and updates reach the market faster.
Key features of the RLM Platform:
- Product/service design
- Price management
- Configure price and quote
- Contract lifecycle management
- Order management
- Billing and collections
- Revenue lifecycle intelligence
A seamless and enjoyable experience for every use case
What used to be a tedious process has now become a highly intuitive flow. Managing products, pricing, and quoting is no longer a chore but an enjoyable experience for business users, thanks to the user-friendly design of the RLM platform.
Whether you want to sell directly, provide customers with a portal to generate their own quotes, or employ a website cart or bot for quoting, the RLM platform makes it possible. Its omnichannel capabilities ensure flexibility and adaptability for every sales use case.
The evolution of Salesforce Revenue Cloud has reached a pivotal point with the introduction of the RLM platform. Businesses of all sizes and industries now have a comprehensive, end-to-end solution for managing their revenue lifecycles, making the entire process more efficient, enjoyable, and adaptable to various sales use cases.
About NeuraFlash
NeuraFlash is a leading AI and Consulting/ ISV Partner of Salesforce and AWS. Their mission is to help businesses reimagine how they deliver personalized service and sales experiences that scale, empower teams, and uncover revenue. Working across industries, NeuraFlash enables intelligent business automation that drives real-time ROI.
